The Group has adopted a centralized funding strategy whereby funding is primarily raised centrally by the parent company H & M Hennes & Mauritz AB.
External debt structure and maturities
To reduce refinancing risk the Group utilizes a variety of funding sources and an even distribution of maturities. The groups funding consists of loans and credit facilities from credit institutions and access to debt capital markets.
Debt maturity profile as at 31 August 2023
|Year||Commercial papers||Bonds (EMTN)||Loans from credit institutions||Unused credit facilities|
|Total SEK m||725||5,921||4,771||18,947|
Debt Capital Market Programmes
Short Term Funding - Commercial paper (CP) programmes
|Programme||SEK 7 billion - Swedish commercial paper programme|
|Dealers||Handelsbanken, SEB and Danske Bank|
|Links||Programme (in Swedish)|
|Programme||GBP 1 billion - Euro-Commercial paper programme|
Long Term Funding - Bond programmes
|Programme||EUR 2 billion EMTN programme|
|Dealers||BNP Paribas, Commerzbank, Danske Bank, SEB and Standard Chartered|
|Offering Circular||2020, 2021|
|Agency Agreement||2021 First Supplement, 2021 Second Supplement, 2022 Third Supplement|
|Supplement(s)||12th of February 2021|
|Final Terms||XS2303070911 (EUR 500M 0.25% 25-AUG2029)|
To ensure best possible terms on the debt capital markets, H&M Group has received a credit rating from Standard & Poor’s.
H & M Hennes & Mauritz AB Credit Rating
|Agency||Long Term Rating||Short Term Rating||Outlook|