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Debt Information

ESB has a strong balance sheet and liquidity position, and maintaining the financial performance and strength required to deliver our ‘Driven to Make a Difference: Net Zero by 2040’ strategy is a key foundational capability.  We are committed to maintaining a strong investment grade credit rating and secure optimal long-term funding to match investment plans for a net zero future.

GROUP DEBT AS AT 30 June 2023

TypePercentage
Bonds72%
Green Bond17%
Private Placement3%
Bilateral (mainly EIB) 8%

AVAILABLE LIQUIDITY AS AT 30 June 2023

TypePercentage
Committed facilities65%
Cash35%


ESB Debt Maturity

ESB Group Debt Profile as of 31.12.2022
PDF | 65KB
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ESB Group Financing Structure

Summary of Group Structure 2017
PDF | 95KB
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ESB Finance DAC Change of Name Certificate
PDF | 29KB
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ESB Financing Programmes and Facilities

The majority of ESB’s financing needs are met from the stable cash flows generated by our operating activities. Additional financing requirements are funded through a combination of capital market issues and bank borrowings. The combination of these facilities provides the prudence, diversity and flexibility which underline our financial strategy.

ESB Group Debt

As at 30 June 2023 ESB's Group Debt totalled €7 billion. 

Bond Information

As at 30 June 2023

IssuerCurrencyMaturityAmount OutstandingCouponISINListedTerm Sheet
ESB Finance DACEUR2043350,000,0003.75%XS2579482006Irish Stock ExchangeDownload Report
NIE Finance PLCGBP2032350,000,0005.875%XS2528656080London Stock ExchangeDownload Report
ESB Finance DACEUR2032550,000,0004%XS2550909415Irish Stock ExchangeDownload Report
ESB Finance DACEUR2034500,000,0001%XS2432544349Irish Stock ExchangeDownload Report
ESB Finance DACEUR2030700,000,0001.125%XS2009861480Irish Stock ExchangeDownload Report
ESB Finance DACEUR2044100,000,0002%XS1981749044Irish Stock ExchangeDownload Report
ESB Finance DACEUR2033500,000,0002.125%XS1903442744Irish Stock ExchangeDownload Report
ESB Finance DACEUR2024300,000,0003.494%XS0992646918Irish Stock ExchangeDownload Report
ESB Finance DACEUR2029500,000,0001.750%XS1560853670Irish Stock ExchangeDownload Report
ESB Finance DACEUR2031600,000,0001.875%XS1428782160Irish Stock ExchangeDownload Report
ESB Finance DACGBP2035325,000,0001.875%XS2105811116Irish Stock ExchangeDownload Report
NIE Finance PLCGBP2026400,000,0006.375%XS0633547087London Stock ExchangeDownload Report
NIE Finance PLCGBP2025350,000,0002.500%XS1820002308London Stock Exchange

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ESB Finance DACEUR2027500,000,0002.125%XS1239586594Irish Stock ExchangeDownload Report

 

Final Terms

ESB Finance DAC 2028 Final Terms
PDF | 427KB
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ESB Finance DAC 2036 Final Terms
PDF | 430KB
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ESB Capital Markets Funding

Euro Medium Term Note Programme (EMTN) – ESB Finance DAC

In the capital markets we have a €5 billion Euro Medium Term Note Programme (EMTN) under which a number of Euro bonds and one GBP bond have been issued since March 2010. In addition to the EMTN issues, ESB’s subsidiary Northern Ireland Electricity has issued two GBP bonds. 

US Private Placement

ESB has strong relationships in the US Private Placement market and has completed two large transactions in this market.

Bilateral Finance

ESB enjoys a long-standing relationship with the European Investment Bank as well as its group of 13 international relationship banks which also provide its primary liquidity facility. Where appropriate, we also avail of non-recourse project finance facilities from relationship and other banks.

Liquidity

ESB’s primary liquidity source is a €1.4 billion Sustainability linked Revolving Credit Facility provided by our core relationship bank syndicate of 13 international banks – a facility which is currently committed out to February 2027. In December 2022, ESB entered into a new short term Revolving Credit facility of £750 million up to December 2023 with a group of 6 international banks.