Debt management
The Snam Group has access to capital markets in order to meet its short and long term financial needs through different sources of funding with the goal to maintain a solid and efficient capital structure.
To ensure its financial structure fits with its business objectives, Snam has diversified the composition and maturity of its debt
Updated to 31 December 2020
Updated to 31 December 2020
* Floating rate debt is mainly linked to EURIBOR (Europe Interbank Offered Rate).
Overall net debt (31/12/2020): €12,887 million
Average maturity M/L term: ~ 5 years.
M/L TERM BANKING FACILITIES MATURITIES AS AT 31/12/2020
* Including: for 2020 the draw-down of uncommitted credit facilities for overall € 450 mln drawn during the year; for 2021 the draw-down of uncommitted credit facilities for overall € 1.5 bn drawn during the year.
FINANCIAL DEBT
Bonds, Commercial Paper and Committed Credit facilities as at 30 December 2020
| Market funding facility | Maturity / Weighted Average Maturity |
Nominal Amount at 30 December 2020 (€ mln) |
|---|---|---|
| Bonds | ||
| Snam SpA - EMTN - 2012 | 2022 | 582 |
| Snam SpA - EMTN - 2013 | 2021 | 259 |
| Snam SpA - EMTN - 2014 | 2024 | 385 |
| Snam SpA - EMTN - 2014 | 2023 | 190 |
| Snam SpA - EMTN - 2015 | 2023 | 167 |
| Snam SpA - EMTN - 2016 | 2026 | 1,250 |
| Snam SpA - EMTN - 2017 | 2025 | 339 |
| Snam SpA - EMTN - 2017 | 2022 | 151 |
| Snam SpA - EMTN - 2017 | 2022 | 400 |
| Snam SpA - EMTN - 2017 | 2024 | 106 |
| Snam SpA - CONVERTIBLE - 2017 | 2027 | 650 |
| Snam SpA - EMTN - 2018 | 2023 | 522 |
| Snam SpA - EMTN - 2019 | 2025 | 500 |
| Snam SpA - EMTN - 2019 | 2030 | 250 |
| Snam SpA - EMTN - 2019 | 2024 | 700 |
| Snam SpA - EMTN - 2019 | 2034 | 600 |
| Snam SpA - EMTN - 2020 | 2030 | 500 |
| Snam SpA - EMTN - 2020 | 2028 | 600 |
| BEI financing | 2028 | 1,619 |
| Bilateral Term Loan | 12/2021 | 2,140 |
| Commercial paper | 6 months (2023 program maturity) | 2,500 |
| Revolving credit facility* | 2025 | 3,200 |
*Currently not drawn
12 April 2021 - 10:53 CEST