Financial position

The Group’s objective is to maintain a balance between continuity of funding and flexibility through the use of bank loans, confirmed and unconfirmed credit facilities, commercial paper program, etc.

Financial Debt

For medium- to long-term funding, the Group uses bonds. The maturity profile of the debt portfolio is spread over several years. The Group Treasury frequently assesses its funding resources taking into account its own credit rating and general market conditions.

Following the reorganisation of the Group structure, achieving a ringfencing of the Belgian regulated activities from the unregulated activities and regulated activities carried out abroad, the indebtedness allocated to the Belgian regulated activities (including listed EMTN bonds, the regulated bank debt and shareholder loans) were transferred to Elia Transmission Belgium, together with the assets related to these activities,  end 2019. An overview of the indebtedness linked to the financing of the Belgian regulated activities can be find on the website of Elia Transmission Belgium.

The financing of the regulated activities of 50hertz in Germany remains at the level of Eurogrid GmbH. For an overview of the debt financing of Eurogrid, we refer to Eurogrid GmbH.

The EUR 300 million unsubordinated bonds (the “senior bonds”) and the EUR 700 million hybrid bonds (the “hybrid bonds”) (which were issued to acquire an additional 20% stake in Eurogrid International) constitute a debt allocated to unregulated activities and regulated activities carried out abroad and will therefore remain at Elia Group’s level.


Credit rating

Standard & Poors
Long term rating : BBB+
Outlook : Stable
Last update : 08/10/2019
Short term rating : A-2

 

Elia Group financing

The tables below detail all Eurobond issues and Hybrid issues at Group level.

 

Type Start date Amount  Tenor Coupon ISIN
Senior Bond  5 September 2018  € 300 million  10 y  1.50 %  BE 0002596741
Hybrid Bond   5 September 2018  € 700 million  [5.25]   2.75 %   BE 0002597756 


Eurobonds

These Eurobonds are listed on the Euronext Brussels Stock Exchange. Clearing takes place via the X/N system.

 

Official payment agencies : 

ING Luxembourg SA
Route d’Esch 52,
L-2965 Luxembourg
Royal Bank of Canada Europe Limited
71 Queen Victoria Street,
London EC4V 4DE, UK

Capital Increases

The Group is using equity funding for long-term funding. It is the Group’s objective to keep a healthy balance between debt and equity funding.


Reorganisation

Documents related to the General Meetings of Noteholders

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