CECONOMY AG adheres to the principle of a prudent financial policy and is continuously evaluated by three rating agencies, Fitch, Scope and S&P. Ratings evaluate the ability of a company to meet its financial obligations. They communicate the creditworthiness of a company to potential debt capital investors and enable it to obtain attractive financing conditions on international capital markets.
Fitch Rating Report: PDF 589 KB
Scope Rating Report: PDF 307 KB
S&P Global Ratings Tear Sheet: PDF 193 KB
As of 04 April 2024
For medium- and long-term financing CECONOMY AG issued several promissory notes. As of 31.12.2023, promissory notes (Schuldscheindarlehen) with a total nominal amount of €121 million and remaining maturities of up to four years were outstanding.
A Euro Commercial Paper Programme with a maximum volume of €500 million is available to CECONOMY AG for short-term funding needs.
CECONOMY AG possesses comfortable liquidity reserves consisting of syndicated revolving credit facilities, which complements the reserves held in cash and other liquid assets.
The syndicated credit line agreement was concluded on 6 May 2021 and consists of two tranches with a total volume of EUR 1.06 billion and an initial term of 3 respectively 5 years, each with two one-year extension options. In April 2022, the first extension option was used to extend the 3-year facility by one year. In addition, it also includes a pricing mechanism linked to the achievement of ESG objectives, which are in line with CECONOMY's sustainability strategy.
Press release of KfW syndicated loan agreement replacement
Press release of ESG-linked syndicated revolving credit facility
CECONOMY AG has successfully priced an inaugural €500 million 5-year senior unsecured bond, thereby further enhancing its post-pandemic financing structure. The notes will mature in June 2026 and carry an annual fixed coupon of 1.75%. The net proceeds from the issuance of the notes will be used for general corporate purposes, including the refinancing of existing indebtedness.
Below you will find an overview of the key information:
As compensation component for the full acquisition of MediaMarktSaturn Retail Group, beside a capital increase and a limited cash component CECONOMY AG has issued to Convergenta Invest GmbH Convertible Bonds with an aggregate principal amount and issue price of EUR 151 million, which have a maturity of five years, a conversion premium of approximately 30%, an interest rate of 0.05% p.a., and an initial conversion price of EUR 5.42, initially convertible into up to 27,859,778 Conversion Shares.
Below you will find an overview of the key information:
Please direct general inquiries on financing topics to +49 211 5408-7245 or to creditor-relations_at_ceconomy.de.