FAQ
Has Bertelsmann issued bonds?
In the past, Bertelsmann has repeatedly issued bonds and comparable instruments through the capital markets or through private placements.
What is a credit rating?
A credit rating is a classification of the creditworthiness of a borrower or a special debt instrument. The former is called an issuer rating, and the latter an issuance rating.
What is the credit rating of Bertelsmann SE & Co. KGaA?
Since June 2002, Bertelsmann has been rated by the rating agencies Standard & Poor's and Moody's. S & P current rating is BBB+/stable/A-2 and Moody's rating is Baa1/stable/P-2 respectively.
What are the financial goals of Bertelsmann?
Bertelsmann utilizes a financial control system employing quantitative financial targets concerning the Group`s economic debt and, to a lesser extent, its capital structure. One key financial target is a dynamic leverage factor calculated as the ratio of economic debt to operating EBITDA (after modifications) and limited to a maximum of 2.5. Economic debt is defined as net financial debt plus provisions for pensions, profit participation capital and present value of operating leases. Bertelsmann lowered the leverage factor from 3.0 to 2.5 at the end of the fiscal year 2010 due to the economic crisis and as part of a general limit deleveraging of corporates.
These self-imposed financial goals reflect the conservative financial policy of the company and also take into account the existence of other financial obligations such as obligations from operating leasing contracts. The combined leverage factor for the fiscal year 2011 was 2.4.
What financial instruments does Bertelsmann use for External Financing?
Bertelsmann uses various financial instruments to diversify its financing sources. Besides the issuance of bonds and comparable instruments through the capital markets or through private placements, Bertelsmann has access to a Syndicated Credit Facility with a volume of EUR 1.2 billion which can be drawn by Bertelsmann SE & Co. KGaA when needed.
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News
Bertelsmann is considering reducing its shareholding in RTL Group while retaining a qualified majority
Bertelsmann announces preliminary figures for 2012
Bertelsmann reports increased revenue and profit in first nine months of 2012
Revenues increase to €11.4 billion Operating EBIT improves to €1.1 billionGroup profit rises to €528 million
Bertelsmann and Pearson to Combine Book Businesses
Thomas Rabe implements new Bertelsmann strategy in the book publishing businessBertelsmann to hold 53 percent of new publishing group, Pearson 47 percentMarkus Dohle (Random House) appointed as CEO,...
Bertelsmann completes change of legal form to SE & Co. KGaA
Bertelsmann, the international media company, will from now on do business as Bertelsmann SE & Co. KGaA. The change of legal form from Aktiengesellschaft (stock corporation) to Kommanditgesellschaft...
Bertelsmann successfully places Benchmark bond
Bertelsmann AG has taken advantage of the favorable market conditions and successfully placed a €750 million benchmark bond. The bond, listed in Luxembourg, has a ten-year maturity and a fixed...
