Syndicated revolving credit facilities are the most important source of debt financing for the Schibsted Group. In addition, the Group has bank loans from Nordic Investment Bank and is also utilizing the opportunity for short term financing in the market for commercial papers when favourable.
The Group follows a policy where the syndicated revolving credit facilities always should have sufficient undrawn lines to cover short term loans in the commercial paper market. Schibsted has for the time being not issued bonds.
Refinancing of the Group’s multi currency credit facilities is carried out in August 2010, and the debt structure is with effect from 31 August 2010 as follows:*:
| Loan | Total facility | Maturity |
| Multi currency loan (Bridge to Bond) | NOK 1,000 million | August 2011 |
| Multi currency credit facility | EUR 175 million | August 2013 |
| Multi currency credit facility | EUR 325 mill. | August 2015 |
| Nordic Investment Bank (NIB) | EUR 13 mill. | June 2014 |
| Nordic Investment Bank (NIB) | EUR 202 mill. | April 2019 |
| Commercial paper | NOK 300 mill. | Februiary 2011 |
*) Syndicated facilities and commercial papers mature in full at the specified points of time. Bridge to bond will be downscaled as bonds are issued, and final maturity date is stated in the table above. The NIB loans have a regulated repayment schedule. The time stated in the table is the time of final maturity.
Schibsted’s long term loans have floating interest rate, tied to the money market rate with a margin added. A change of 1 percentage point in the floating interest rate implies a change in Schibsted’s interest expenses of approximately NOK 22 million.
Schibsted's loan agreements contain covenants regarding the ratio of net interest-bearing debt (NIBD) to the operating profit before depreciation and amortization (EBITDA).
Based on the most recent published quarterly report, as of 30 June 2010, Schibsted has undrawn credit facilities of approx NOK 3.4 billion.
Maturity profile
