Debt
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- Debt structure
- Financing instruments
- Issuer Credits Ratings
Net debt
As of December 31, 2024, Rexel’s consolidated net debt stood at €2,483.9 million, as a result of €3,220.9 million gross debt minus €883.3 million cash and cash equivalents, and plus €146.3 million of other items.
(in millions of euros) |
Dec 31 2024 |
Dec 31 2023 |
Dec 31 2022 |
Dec 31 2021 |
Dec 31 2020 |
|---|---|---|---|---|---|
|
Senior notes |
1,378.1 |
1,370.1 |
953.2 |
999.5 |
1,105.5 |
|
Schuldschein |
200.0 |
– |
– |
– |
– |
|
Senior Credit Agreement |
80.0 |
50.0 |
– |
– |
– |
|
Securitization |
1,3361.1 |
1,183.5 |
1,183.5 |
905.0 |
818.4 |
|
Medium Term Notes |
60.6 |
49.9 |
– |
– |
– |
|
Commercial paper |
34.8 |
34.9 |
45.0 |
125.5 |
50.0 |
|
Other debt & cash |
(597.7) |
(726.9) |
(723.3) |
(478.8) |
(639.0) |
|
Net financial debt |
2,483.9 |
1,961.5 |
1,458.4 |
1,551.2 |
1,334.9 |
Financing maturity profile
Leverage ratio
On December 31, 2024, Rexel’s leverage ratio* stood at 1.83x.
Financing instruments
As of December 31, 2024
Instrument |
Date of implementation |
Size of the program (in millions of currency) |
Outstanding amount (in millions of currency) |
Documentation |
|---|---|---|---|---|
|
Commercial paper |
September 2010 |
€ 300.0 |
€ 35.0 |
Financial file* |
|
Neu MTN |
June 2022 |
€ 100.0 |
€ 60.0 |
Financial file* |
*French version only
Senior Credit Agreement
Senior Credit Agreement extended to 23 January 2030 in January 2025
Maximum Amount (in million euros) |
Drawn amount |
Maturity |
|---|---|---|
|
EUR 700.0 |
EUR 0.0 |
January 23, 2029 |
Senior notes
Listing: Luxembourg Stock Exchange – Euro MTF market
Nominal amount (in millions) |
Maturity |
Coupon |
Rating |
ISIN |
1st call date |
|---|---|---|---|---|---|
|
– |
– |
– |
Moody’s / S&P |
Regualtion S / 144 A |
– |
| € 400.0 |
June 15, 2028 |
2,125% |
Ba1 / BB+ |
XS2332306344 / N/A |
June 15, 2024 |
| € 600.0 |
Dec 15, 2028 |
2.125% |
BA1 / BB+ |
XS2403428472 / N/A |
Dec 15, 2024 |
| € 400.0 |
Sept 15, 2028 |
5.25% |
BA1 / BB+ |
XS2655993033 / N/A |
Sept 15, 2026 |
Sustainability-Linked Bond
Date |
Sustainability-Linked Bond Framework |
Second Party Opinion on Rexel’s Sustainability-Linked Bond Framework |
Independent practitioner’s limited assurance report on the 2016 baseline |
Independent practitioner’s limited assurance report on the 2023 figures |
Target Satisfaction Notice |
|---|---|---|---|---|---|
|
October 2021 |
Download | Download | Download | Download | Download |
|
April 2021 |
Download | Download | Download | Download | Download |
|
Septembre 2023 |
Download | Download | Download |
Redemption of senior notes
-
The 2.75% EUR Senior Notes due 2026 full redemption price notice – ISIN code: Reg S XS1958300375
June 3, 2025 99 KB
-
The 2.125% EUR Senior Notes due 2025 full redemption price notice – ISIN code: Reg S XS1716833352
June 3, 2025 103 KB
-
The 2.125% EUR Senior Notes due 2025 partial redemption price notice – ISIN code: Reg S XS1716833352
June 3, 2025 168 KB
-
The 2.625% EUR Senior Notes due 2024 full redemption price notice – ISIN code: Reg S XS1574686264
June 3, 2025 324 KB
Issuer Credits Ratings
Agencies |
Long term rating |
Short term rating |
Outlook |
Releases |
|---|---|---|---|---|
|
Moody’s |
Ba1 |
– |
Stable |
August 27, 2024 |
|
Standard & Poor’s |
BB+ |
B |
Stable |
August 27, 2024 |