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Creditor Relations
Q3 2024 Investor
Presentation
Financing strategy
We ensure our financial flexibility through maintaining sufficient liquidity. Our refinancing risks are limited due to our balanced maturity profile, which is characterized by a wide range of maturities of up to 2031. Corporate bonds in euro and U.S. dollar form the basis of our mid- and long-term financing instruments. Corporate bonds in euro are issued under our €10 BN debt issuance program. For short-term financing, we use our €1.5 BN commercial paper program, Accounts Receivable Facility in U.S. dollar, and bilateral credit lines. The €2 BN Syndicated Credit Facility, signed in July 2021, serves as a backup facility.
Financing & Currency Mix
as of September 30, 2024
1 Does not include debt and lease liabilities which are part of liabilities directly associated with assets held for sale
Bonds and convertible bonds
| Instrument | Maturity/Term | Amount in M | ISIN Code |
| 1.5% Bond | 2018-2025 | EUR 500 | XS1854532949 |
| 3.75% Bond | 2019-2029 | USD 500 | USU3149FAA76 |
| 0.625% Bond | 2019-2026 | EUR 600 | XS2084497705 |
| 1.250% Bond | 2019-2029 | EUR 500 | XS2084488209 |
| 1.000% Bond | 2020-2026 | EUR 500 | XS2178769076 |
| 1.500% Bond | 2020-2030 | EUR 750 | XS2178769159 |
| 2.375% Bond | 2020-2031 | USD 1,000 | USU3149FAB59 |
| 1.875% Bond | 2021-2026 | USD 850 | USU3149FAC33 |
| 3.000% Bond | 2021-2031 | USD 650 | USU3149FAD16 |
| 3.875% Bond | 2022-2027 | EUR 750 | XS2530444624 |
European Medium Term Note Program
| Issuer | Fresenius Medical Care AG |
| Program Amount | € 10,000,000,000 |
| Arranger: | Deutsche Bank |
| Dealer: | Barclays, Commerzbank, Crédit Agricole Corporate and Investment Bank, Deutsche Bank, HSBC, ING Bank, J.P. Morgan, Société Générale Corporate & Investment Banking |
| Fiscal and Paying Agent | Deutsche Bank |
Further details and Base Prospectus
Commercial Paper Program
The Commercial Paper Program enables Fresenius Medical Care to issue short-term notes of up to € 1.5 billion on the money market. The issuances are made through the European Commercial Paper Program (ECP).
| Issuer | Fresenius Medical Care AG |
| Program amount | ######## |
| Arranger | Commerzbank |
| Dealer | Barclays, Commerzbank, Crédit Agricole, DZ BANK AG, ING, Landesbank Baden-Württemberg, Landesbank Hessen-Thüringen |
| Issuing and paying agent | Commerzbank |
| Term | Up to 2 years less 1 day |
Well-balanced maturity profile1
as of September 30, 2024
On Oct. 15, 2024, Fresenius Medical Care redeemed the 400,000,000 US-Dollar bond at maturity.
1 Based on utilization of major financing instruments, excl. Commercial Paper, and other cash management lines
2 Calculations based on total financial debt, excluding Lease & Purchase Money Obligations
Net Leverage Ratio
as of September 30, 2024
1 Excl. U.S. federal relief funding and advanced payments under the CARES Act
Rating
Standard & Poor's, Moody's and Fitch, the leading rating agencies, have assigned Fresenius Medical Care the following rating:
| Standard & Poor's | Moody's | Fitch | |
|---|---|---|---|
| Corporate credit rating | BBB- | Baa3 | BBB- |
| Outlook | stable | stable | stable |
Related content
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The Conference Call on Q3 2024 financial results takes place on November 5, 2024
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