Debt

In 2009, UCB successfully re-financed more than € 3.25 billion of debt to optimise our maturity profile.

Gross debt maturity profile

Total amount of gross debt, as per the end of 2009, maturing over the whole period, in accordance with IFRS, is € 2.2 billion.

The re-financing included successfully placing a convertible bond, a bond for retail investors and a Euro institutional bond with a combined principal amount of € 1.75 billion; and securing a three-year (plus one year renewal option) revolving syndicated loan facility with several core banks raising € 1.5 billion from the international loan market.

Re-financing steps

• € 1.5 billion revolving credit facility, due 2012,
potentially to be extended into 2013
• € 750 million retail bonds, due 2014
• € 500 million convertible bonds, due 2015
• € 500 million institutional bonds, due 2016
• Lender base diversified
• Maturity profile improved
• Old debt paid down