GROUP DEBT AS AT 31 December 2021
|Bilateral (mainly EIB)||12%|
AVAILABLE LIQUIDITY AT 30 JUNE 2021
ESB Debt Maturity
ESB Group Debt as at 31 December 2021
ESB Group Financing Structure
Summary of Group Structure 2017
ESB Financing Programmes and Facilities
The majority of ESB’s financing needs are met from the stable cash flows generated by our operating activities. Additional financing requirements are funded through a combination of capital market issues and bank borrowings. The combination of these
facilities provides the prudence, diversity and flexibility which underline our financial strategy.
ESB Group Debt
At 30 June 2021 ESB’s Group Debt totalled €5.2 billion
List of bonds in issue.
As at 30 June 2021
|ESB Finance DAC||EUR||2034||500,000,000||1%||XS2432544349||Irish Stock Exchange|
|ESB Finance DAC||EUR||2030||700,000,000||1.125%||XS2009861480||Irish Stock Exchange|
|ESB Finance DAC||EUR||2044||100,000,000||2%||XS1981749044||Irish Stock Exchange|
|ESB Finance DAC||EUR||2033||500,000,000||2.125%||XS1903442744||Irish Stock Exchange|
|ESB Finance DAC||EUR||2024||300,000,000||3.494%||XS0992646918||Irish Stock Exchange|
|ESB Finance DAC||EUR||2027||500,000,000||2.125%||XS1239586594||Irish Stock Exchange|
|ESB Finance DAC||EUR||2029||500,000,000||1.750%||XS1560853670||Irish Stock Exchange|
|ESB Finance DAC||EUR||2031||600,000,000||1.875%||XS1428782160||Irish Stock Exchange|
|ESB Finance DAC||GBP||2035||325,000,000||1.875%||XS2105811116||Irish Stock Exchange|
|NIE Finance plc.||GBP||2026||400,000,000||6.375%||XS0633547087||London Stock Exchange|
|NIE Finance plc.||GBP||2025||350,000,000||2.500%||XS1820002308||London Stock Exchange|
ESB Capital Markets Funding
Euro Medium Term Note Programme (EMTN) – ESB Finance DAC
In the capital markets we have a €5 billion Euro Medium Term Note Programme (EMTN) under which a number of Euro bonds and one GBP bond have been issued since March 2010. In addition to the EMTN issues, ESB’s subsidiary Northern Ireland Electricity has issued two GBP bonds. The most recent prospectus is available here:
ESB EMTN Offering Circular Supplement - January 2022
ESB EMTN Offering Circular - August 2021
ESB EMTN Offering Circular - December 2019
US Private Placement
ESB has developed strong relationships in the US Private Placement market and has completed two large transactions in this market.
ESB Group enjoys a productive and long-standing relationship with the European Investment Bank. Other bilateral bank finance is primarily sourced from our group of 14 international relationship banks which also provide a significant level of committed back-up lines. Where appropriate, we also avail of non-recourse project finance facilities from relationship and other banks.
ESB’s primary liquidity source is a €1.4 billion Sustainability linked Revolving Credit Facility provided by our core relationship bank syndicate of 14 international banks – a facility which is currently committed out to 2025.