Debt info

Debt structure

Signify’s debt consist of bonds (EUR) and bank borrowings (term loans in EUR and USD).

Signify also has a EUR 500 million committed multi-currency revolving credit facility (RCF), signed in January 2020, with a maturity in January 2027. To date, Signify’s revolving credit facility has remained undrawn.

The term loans and RCF agreement include a financial covenant providing that Signify maintains a net leverage ratio of no greater than 3.5x. The net leverage ratio may temporarily increase to 4.0x within 12 months of the closing of material acquisitions. The covenant does not apply if the company has at least one investment grade rating, which is currently the case (link to credit rating).

Signify’s debt profile per May 31, 2024, consists of EUR 600 million in bonds and EUR 888 million in term loans:

Bonds

The profile of the outstanding bonds is summarized in the table below:

Outstanding Bonds	Interest rate	Issue date	Maturity	ISIN Code	Final terms
EUR 600 million	2.375%	2020	2027	XS2128499105	link to Prospectus

Credit Rating

As part of its capital allocation policy, Signify remains focused on maintaining a robust capital structure to support its commitments to an investment grade credit rating: