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Rating and bonds

Rating

Eandis has obtained a long term corporate rating from the rating agency Moody’s Investors Service (“Moody’s”).

info date rating link
Eandis cvba - LT 03.07.2016 A1 (negative outlook) open
Eandis cvba - LT 03.06.2016 A1 (negative outlook) open
Eandis cvba - LT 10.09.2015 A1 (negative outlook) open
Eandis cvba - LT 02.12.2014 A1 (negative outlook) open
Eandis cvba - LT 17.03.2014 A1 (stable outlook) open
Eandis cvba - LT 13.03.2014 A1 (stable outlook) open
Eandis cvba - LT 20.12.2013 A1 (negative outlook) open
Eandis cvba - LT 21.12.2012 A1 (negative outlook) open
Eandis cvba - LT 20.12.2011 A1 (negative outlook) open
Eandis cvba - LT 12.10.2011 A1 (negative outlook) open

The EMTN programme of Eandis was rated separately by Moody's:

info date rating link
EMTN-programme 26.10.2011 A1 (negative outlook) open

All EMTN issuances by Eandis were rated separately by Moody's:

info date rating link
EMTN-issue 08.11.2011 02.11.2011 A1 (negative outlook) open
EMTN-issue 30.11.2012 10.12.2012 A1  
EMTN-issue 09.10.2013 22.10.2013 A1  
EMTN-issue 07.05.2014 06.05.2014 A1  
EMTN-issue 04.12.2014 02.12.2014 A1  

On 7 january 2016 Moody's published an Issuer Comment at the occasion of the DSO merger.

A more detailed analysis of the Eandis Economic Group can be found here:

Link: http://www.moodys.com/

 

Bonds

Until now, Eandis has approached the capital markets several times with the aim of funding the Eandis Economic Group. A survey of the currently outstanding bonds (situation on 1 April 2014):

 

Nr. issue date amount type maturity Coupon ISIN code
1 23.06.2010 150 mio € Retail 23.06.2017 – 7 year 4,00 % BE0935120403
2 30.12.2010 170 mio € Retail 30.12.2020 – 10 year 4,25% BE6212766131
3 08.11.2011 500 mio € EMTN 08.11.2021 – 10 year 4,50% BE6228266902
4 10.07.2012 135,5 mio € PP 10.07.2032 – 20 year 3,95% BE6228266902
5 21.09.2012 50 mio € SS 21.09.2027 – 15 year 3,50% /
6 30.11.2012 500 mio € EMTN 30.11.2022 - 10 year 2,75% BE0002420926
7 28.03.2013 54,5 mio € PP 28.03.2028 - 15 year 3,50% BE0002429042
8 28.03.2013 20,5 mio € PP 28.03.2033 - 20 year 3,75% BE0002430057
9 24.06.2013 50 mio € NSV 24.06.2043 - 30 year 3,50% /
10 09.10.2013 500 mio € EMTN 09.10.2023 - 10 year 2,875% BE0002443183
11 05.03.2014 52 mio € PP 05.03.2044 - 30 year 3,55% BE0002211770
12 05.03.2014 23 mio € PP 05.03.2036 - 22 year 3,55% BE0002212786
13 07.05.2014 550 mio € EMTN 07.05.2029 - 15 year 2,875% BE0002470459
14 04.12.2014 400 mio € EMTN 04.12.2026 - 12 year 1,75% BE0002481563

 

Legend:

Retail: placed with retail investors in Belgium and the Grand Duchy of Luxembourg
EMTN (Euro Medium Term Note): benchmark bonds placed with European institutional investors
PP: private placements
SS: Schuldschein (debt instrument according to German law)
NSV: Namensschuldverschreibung (i.e. a debt instrument according to German law)

All bonds issued by Eandis are being guaranteed by the 7 Flemish distribution system operators (shareholders of Eandis), each in proportion to its part in Eandis’s share capital. See also under “Shareholders”.

The bonds 1 until 4 are listed on the Luxembourg Stock Exchange’s regulated market. The bonds 6 until 8, 10, 13 and 14 are listed on Euronext Brussels’ regulated market. The debt instruments 5 and 9 are not listed. The debt instruments 11 and 12 are listed on Alternext Brussels.

Links:

Luxembourg Stock Exchange
Euronext Brussels 
Alternext Brussels

 

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