Debt Financing

In connection with the eCG acquisition in 2021, Adevinta issued Senior Secured Notes totalling €1,060 million. Additionally, Adevinta entered into US Dollar and Euro Term Loan B facilities totalling $506 million and €900 million, respectively and a €450 million Multicurrency Revolving Credit Facility.

As of 30 September 2023, the Revolving Credit Facility is undrawn.

As of 30 September 2023, Adevinta’s financing structure is as follows:

Further information on the respective debt categories is found below:

Senior Secured Notes:

Credit Facilities:

* The USD Term Loan B Facility is hedged with a USD floating to EUR fixed cross currency interest rate swap, maturing in June 2024, resulting in  a fixed rate of 3.169% (30/360) at an FX rate of 1.1851.

** Margins on the Term Loan B Facilities are subject to a leverage based margin ratchet. Margins displayed are at the level applicable to the leverage ratio at 30 June 2023.

The Revolving Credit Facility, Term Loan B Facilities and Bonds fall due at their applicable maturity dates, with early repayments allowed and call option features on the bonds. The USD Term Loan B Facility has a quarterly amortisation equivalent to 0.25% of its notional.

This chart above includes the Senior Secured Notes and Term Loan B Facilities. It does not include the 0.25% quarterly amortisation on the USD Term loan B facility. 

Corporate Credit Ratings:

Note: As of November 21, 2023. These credit ratings and outlook are subject to revisions at any time.