Rheinmetall has a well-diversified financing portfolio in terms of the instruments used and the sources and terms of financing. This ensures that Rheinmetall is largely independent of individual lenders and markets.
Financing instruments in € million
|Convertible bonds (Series A) 5 years||2028||500||Capital market investors|
|Convertible bonds (Series B) 7 years||2030||500||Capital market investors|
|Promissory notes||2024-2029||398||National and international lenders|
|Promotional loan R&D I||2023||250||European Investment Bank|
|Promotional loan R&D II||2028||80||European Investment Bank|
|Syndicated loan facility||2027||500||12 banks (i.a. back-up line for the Commercial Paper Program)|
|Real estate and promotional loans||2023-2025||18||Banks|
|Bilateral credit facilities||2023/2024||~ 2,900||Banks and insurance companies|
|Commercial Paper Program||Indefinite||500||Money market investors|
|(Status: March 31, 2023)|
Over three quarters of the bilateral credit facilities serve to provide guarantees, which are particularly important in the Defence sector, and they are generally utilized up to a maximum of 70 % to ensure sufficient flexibility at all times. With these instruments, Rheinmetall is in a good position to provide the financial resources that it needs for its operating activities in the form of liquidity or guarantees at any time. The use of these options is kept as balanced as possible, taking into account aspects relating to liquidity, margins and security.