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Debt & Ratings

Strategy and targets of debt financing

OMV’s financing strategy focuses on cash flow and financial stability. Principal targets are a positive free cash flow after dividends and a strong investment-grade credit rating on the basis of a healthy balance sheet and a mid/long-term leverage ratio of below 30%.

OMV covers its financing needs on the international capital and loan markets, aiming at a broad diversification of its debt investor base. Corporate bonds are the key element of the well-balanced debt maturity profile, complemented by ample committed credit facilities and other types of bank funding. All financing and treasury services are managed at the OMV Group level.

  • Debt financing is principally raised on group level (only in specific and agreed cases external financing may be raised by group companies)
  • Affiliates cover their financial requirements via group treasury
  • Group liquidity and FX-operations are managed in group treasury
  • Financial planning is consolidated in group treasury
  • Risks are permanently monitored on group level and hedged, if economically sensible

OMV aims at a broad diversification of the debt investor base and funding sources and wants to establish a well balanced mix of debt maturities and fixed and floating interest rates. Maintaining the high credit quality is considered as a very important issue. OMV actively pursues a strong relationship with its debt investors.

Credit ratings

OMV is rated by Moody’s “A3” and Fitch “A-”

Moody’s „A3“ Senior Unsecured Issuer Rating and Fitch’s “A-“ Issuer Default Rating once more underpin OMV Group’s strong financial position.

Maintaining an investment grade credit rating has been a crucial and strategic objective of OMV. The strong credit profile affirmed by Moody’s and Fitch reflects the successful implementation of OMV’s strategy while keeping a very close eye on financial targets.

The rating itself provides information about the assessment of a company’s credit and financial position and is an important decision-making basis for the evaluation of the solvency especially for the valuation of bonds. The major three international rating agencies that are specialized in monitoring the companies’ financial standing are Fitch, Moody’s and Standard and Poor’s. The rating categories (AAA highest, D lowest) thereby represent a certain default risk.


Date Rating Outlook
July 2, 2024 A3 Stable
January 16, 2024 A3 Stable


July 17, 2024 A– Stable
February 23, 2024 A– Stable

OMV Debt Structure

Details about our principles of debt financing and the outstanding bonds can be found below.

img_ir_debt maturity profile_en

Senior Bonds

Date of

Publicly traded

(EUR mn)
Final Terms
June 2020 XS2189613982 750 0.750% 06/16/2030 Download (PDF, 922,1 KB)
April 2020 XS2154347707 500 2.000% 04/09/2028
April 2020 XS2154348424 750 2.375% 04/09/2032
July 2019 XS2022093434 500 0.000% 07/03/2025
July 2019 XS2022093517 500 1.000% 07/03/2034
December 2018 AT0000A24UY3 1 300 1.750% 12/10/2025
December 2018   XS1917590959 500 1.875% 12/04/2028
December 2017





September 2012





Note: As of June 2023 
1 Borealis Eurobond

Euro Medium Term Note (EMTN) Program

OMV’s Euro Medium Term Note (EMTN) program allows flexible placement of bonds, the latest prospectus can be found below.

EMTN Prospectus 2024 (PDF, 3,2 MB)

EMTN Prospectus 2023 (PDF, 2,8 MB)

EMTN Prospectus 2022 (PDF, 3,5 MB)

EMTN Prospectus 2021 (PDF, 3,6 MB)

EMTN Prospectus 2020 (PDF, 2,7 MB)

Hybrid Bonds

On December 7, 2015, OMV issued subordinated hybrid notes in the amount of EUR 1.5 bn (two hybrid bonds, EUR 750 mn each). The EUR 750 mn hybrid bond issued in June 2011 was redeemed upon its first call date on April 26, 2018. In turn, on June 19, 2018, OMV issued new hybrid notes with a volume of EUR 500 mn. On September 1, 2020, OMV issued new perpetual, subordinated hybrid notes with a total volume of EUR 1.25 billion in two tranches. The first tranche has a volume of EUR 750 mn and a fixed interest rate of 2.50% per annum, while the second tranche has a volume auf EUR 500 mn and fixed interest rate of 2.875% per annum. One of the hybrid bonds issued in December 2015 in the amount of EUR 750 mn was redeemed on November 30, 2021. The hybrid bond issued in 2018 with a nominal amount of EUR 500 mn was redeemed on June 17, 2024.

The hybrid bonds have no scheduled maturity date and bear a fixed interest rate until the first call date. All hybrid bonds have received a 50% equity credit from rating agencies Moody’s and Fitch. They are classified as 100% equity under International Financial Reporting Standards (IFRS) and are thus not included in OMV’s reported total bond liabilities and total debt figures.

Date of issue

Publicly traded bonds

(EUR mn)
(fix 1)
September 2020


750 2.50% Perp-NC6
September 2020


500 2.875% Perp-NC9
December 2015





Note: As of November 2021
1 Until first call date

More information on our hybrid bond 2020

More information on our hybrid bond 2015