Debt structure
Signify’s debt consist of Bonds, Schuldschein and Term Loans in EUR.
Signify also has a EUR 500 million committed multi-currency revolving credit facility (RCF), signed in January 2020, with a maturity in January 2027. To date, Signify’s revolving credit facility has remained undrawn.
The Schuldschein, Term Loans and RCF agreements include a financial covenant providing that Signify maintains a net leverage ratio of no greater than 3.5x. The net leverage ratio may temporarily increase to 4.0x within 12 months of the closing of material acquisitions. The covenant does not apply if the company has at least one investment grade rating, which is currently the case (link to credit rating).
Signify’s debt profile per Dec 31, 2024, consists of EUR 600 million in Bonds, EUR 400 million in Schuldschein loan and EUR 325 million in Term Loans:
