Contact
OMV Websites
en de
OMV Websites
OMV Websites
OMV www.omv.com Austria www.omv.at Bulgaria www.omv.bg Czech Rep. www.omv.cz Germany www.omv.de Hungary www.omv.hu New Zealand www.omv.nz Norway www.omv.no Romania www.omv.ro Russia www.omv.ru Serbia www.omv.co.rs Slovenia www.omv.si Slovakia www.omv.sk Tunisia www.omv.tn Turkey www.omv.com.tr UAE www.omv.ae
OMV Gas Websites
OMV Gas www.omv-gas.com Austria www.omv-gas.at Germany www.omv-gas.de Hungary www.omv-gas.hu Netherlands www.omv-gas.nl
OMV Petrom Websites
OMV Petrom www.omvpetrom.com Petrom Romania www.petrom.ro Petrom Moldova www.petrom.md
Close

Financing

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 long-term gearing ratio below or equal to 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 persues 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 Report Rating Outlook
March 16, 2020 Moody's confirms rating with revised outlook (PDF, 109,8 KB) A3 Negative
June 28, 2019 Moody's Credit Opinion Report (PDF, 1,5 MB) A3 Stable

May 25, 2018

Moody's Issuer In-Depth Report (PDF, 1,3 MB)

   
Date Report

Rating

Outlook
March 13, 2020 Fitch confirms rating with revised outlook (PDF, 45,5 KB) A– Negative
December 19, 2019 Rating affirmation (PDF, 123,2 KB) A– Stable

June 12, 2018

BBB rating for hybrid bond assigned (PDF, 21,6 KB)

   

 OMV Debt Structure

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

Senior Bonds

Date of
issue

Publicly traded
bonds

Amount
(EUR mn)
Coupon
(fix)
Maturity Final Terms
June 2020 XS2189614014 750 0.000% 16/06/2023 Download (PDF, 922,6 KB)
June 2020 XS2189613982 750 0.750% 16/06/2030 Download (PDF, 922,1 KB)
April 2020 XS2154347293 500 1.500% 09/04/2024
April 2020 XS2154347707 500 2.000% 09/04/2028
April 2020 XS2154348424 750 2.375% 09/04/2032
July 2019 XS2022093434 500 0.000% 03/07/2025
July 2019 XS2022093517 500 1.000% 03/07/2034
December 2018 XS1917590876 500 0.750% 04/12/2023
December 2018   XS1917590959 500 1.875% 04/12/2028
December 2017

XS1734689620

1,000

1.000%

12/14/2026

September 2012

XS0834367863

750

2.625%

27/09/2022

September 2012

XS0834371469

750

3.500%

09/27/2027

October 2011

XS0690406243

500

4.250%

12/10/2021

As of June 16, 2020

Euro Medium Term Note (EMTN) Programme

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

EMTN Prospectus (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 and an attractive initial coupon of 2.875% compared to the 6.75% coupon rate of the 2011 hybrid notes. 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

Amount
(EUR mn)
Coupon
(fix 1)
Maturity
June 2018

XS1713462403

500

2.875% Perp-NC6
December 2015

XS1294342792

750

5.25% Perp-NC6
December 2015

XS1294343337

750

6.25%

Perp-NC10

1 Until first call date

More information on our hybrid bond 2018 

More information on our hybrid bond 2015