TDC's primary funding sources are unsecured Euro Medium Term Notes (EMTN) complemented by committed syndicated and/or bilateral credit facilities.
Currently TDC has access to two committed bilateral credit facilities and a committed syndicated credit facility which covers working capital fluctuations and acts as stand-by facilities. Furthermore, TDC has issued EUR 2.1bn EMTN, GBP 0.55bn EMTN and EUR 0.75bn Hybrid bonds and in addition loans with the European Investment Bank (EIB) and KfW.
TDC is rated by Standard & Poor’s, Moody’s and Fitch and aims at maintaining an investment grade credit rating.
|TDC A/S||Standard & Poor's||Moody's||Fitch|
|Corporate Rating||BBB- / Stable Outlook||Baa3 / Stable Outlook||BBB- / Stable Outlook|
|Senior Unsecured Debt||BBB-||Baa3||BBB-|
|Short Term Debt||A-3||na||F3|
TDC’s EUR 5.5bn EMTN programme is listed on the Irish Stock Exchange.
TDC Q2 2018 Credit Report Fitch 12 June 2018
TDC Q2 2018 Credit Report Moodys 13 June 2018
TDC Q2 2018 Credit Report Fitch 24 May 2018
TDC Q2 2018 Credit Report Fitch 18 May 2018
TDC Q2 2018 Credit report Moody’s 21 May 2018
TDC Q2 2018 Credit report Standard & Poor’s 18 May 2018
The EMTN maturity profile is well diversified and ensures a manageable future refinancing process.
|Euro Medium Term Notes|
|Maturity||Coupon||Nom. Outstanding Amount (mio.)||Issue Date||ISIN|
|23-02-18||4.3750%||EUR 600||23-02-11||XS0593960304||show pdf|
|02-03-22||3.7500%||EUR 500||02-03-12||XS0752467497||show pdf|
|23-02-23||5.6250%||GBP 425||23-02-11||XS0593952111||show pdf|
|27-02-27||1.7500%||EUR 800||27-02-15||XS1196041419||show pdf|
|First Par Call Date||Coupon||Nom. Outstanding Amount (mio.)||Issue Date||ISIN|
|26-02-21||3.5000%||EUR 750||26-02-15||XS1195581159||show pdf|
- Flemming Jacobsen
- Head of Treasury and Investor Relations
- Dennis Callesen
- Investor Relations Manager