Investor relations
About Stedin Group
Stedin Group, headed by Stedin Holding N.V., consists of the electricity and gas grid managers Stedin and Enduris that operate in a large part of the province of South Holland, in the provinces of Utrecht and Zeeland and in parts of North Holland and Friesland. In addition, the group offers services in the field of electricity and gas infrastructure under the name DNWG Infra. Together we ensure that all our customers have access to (sustainable) energy to live, work and do business.
How sustainable is Stedin Group?
As true ambassadors for the energy transition with an important role to play in society, we feel sustainable action speaks louder than words. We are modifying our network to accommodate new forms of energy, while taking a critical look at our own day-to-day activities. In addition to reducing our CO2 and particulate matter emissions, we are also committed to a circular approach to raw materials and equal opportunities for all. As a business with firm roots in broader society, our employees are also personally invested in new energy. But sustainable development is only possible if all parties in the chain contribute to this. That is why we ask our suppliers, by signing our supplier code of conduct, to make a demonstrable effort to comply with and promote our standards of conduct.
Our contributions to the sustainable development goals of the United Nations
Financial publications
Stedin Group was formed on 1 February 2017 as a result of the unbundling of Eneco Holding N.V. into an energy company (Eneco) and a network company (Stedin). Previous annual reports from Stedin Netbeheer B.V. can be found on the website below. The financial reports of Eneco Holding N.V. can also be consulted below.
Financing
Stedin Group has attracted funding and has several funding programs in place in order to attract capital in the future for different purposes and durations. Below the existing loans categorized are displayed as well as the details of the current financing facilities. Please click on one of the items below to find the requested financial information.
Loans & Bonds Outstanding
A Private Placement is a direct private offering of securities to a limited number of accredited institutional investors. The major outstanding private placements are listed below.
| US Private Placement 2017 | |
| Issuer | Stedin Holding N.V. |
| Arrangers |
n.a. |
| Amount |
EUR 240.000.000 |
| Ranking |
Senior Unsecured Notes |
| Maturity |
Several until 2027 |
| Schuldschein 2013 | |
| Issuer | Stedin Holding N.V. |
| Arrangers | Citibank |
| Amount | EUR 150.000.000 |
| Ranking | Senior Unsecured |
| Maturity | 2033 |
| JPY Private Placement 2009 | |
| Issuer | Stedin Holding N.V. |
| Arrangers |
Citibank |
| Amount |
JPY 20.000.000.000 |
| Ranking |
Senior Unsecured Notes |
| Maturity | 2039 |
| US Private Placement 2007 | |
| Issuer | Stedin Holding N.V. |
| Arrangers |
Barclays Capital and RBS Greenwich Capital |
| Amount |
EUR 220.000.000 |
| Ranking |
Senior Unsecured Notes |
| Maturity |
Several until 2027 |
Issue history current bonds
May 2022 – Green Bond issue under 2021 EMTN programme
May 24, Stedin Holding N.V. issued a new bond for a total amount of EUR 500.000.000.
The bond has a 8 year tenor and will bear a coupon of 2,375%.
The notes are listed on the Euronext Amsterdam (XS2487016250).
November 2021 – Green Bond issue under 2021 EMTN programme
November 9, Stedin Holding N.V. issued a new bond for a total amount of EUR 500.000.000.
The bond has a 5 year tenor and will bear a coupon of 0,000%.
The notes are listed on the Euronext Amsterdam (XS2407985220).
November 2019 – Green Bond issue under 2017 EMTN programme
November 11, 2019 Stedin Holding N.V. issued a new bond for a total amount of EUR 500,000,000.
The bond has a 10 year tenor and will bear a coupon of 0.500%.
The notes are listed on the Euronext Amsterdam (XS2079678400).
September 2018 - Bond issue under 2017 EMTN programme
September 5, 2018 Stedin Holding N.V. issued a new bond for a total amount of EUR 500,000,000.
The bond has a 10 year tenor and will bear a coupon of 1.375%.
The notes are listed on the Euronext Amsterdam (XS1878266326).
October 2017 - Bond issue under 2017 EMTN programme
In October 2017 Stedin Holding N.V. issued a debut dual-tranche bond for a total amount of EUR 800,000,000.
The 5 year floating rate tranche of EUR 300,000,000 will carry a coupon of 3-months Euribor with a margin of 27bps, and a re-offer price of 100.30.
The 8 year fixed rate tranche of EUR 500,000,000 will bear a coupon of 0.875%.
Both notes are listed on the Euronext Amsterdam (XS1705553250 en XS1705553417).
On March 23, 2021 Stedin Holding N.V. has issued a perpetual subordinated bond for a total nominal amount of EUR 500.000.000 at an issue price of 100% and an annual interest coupon of 1.50%. The bonds are subordinated to all other liabilities of Stedin Group. The term of the bonds is infinite, where Stedin Group has the right to repay the bonds in 2027 and every year thereafter. Standard & Poor's has rated the instrument BBB. The bonds are listed on Euronext Amsterdam (ISIN XS2314246526).
| Issuer | Stedin Holding N.V. |
| Amount | EUR 500.000.000 |
| Advising Banks |
Global Coordinators en Structuring Advisers: |
| ING Bank, NatWest Markets Joint Bookrunners en Dealer Managers: ING Bank, MUFG, NatWest Markets, Rabobank |
|
| Ranking |
Deeply subordinated; senior to share capital |
| Term |
Perpetual |
Bank Loans & Facilities
| Issuer | Stedin Holding N.V. |
| Arrangers |
- |
| Amount | EUR 30.000.000 |
| Ranking |
Senior Unsecured |
| Maturity |
Several until 2025 |
The Revolving Credit Facility has a maximum tenor until 3 July 2024 and is used for general corporate purposes of Stedin Group.
| Borrower | Stedin Holding N.V. |
| Amount | EUR 600.000.000 |
| Coordinator |
ABN AMRO Bank N.V. |
| Facility agent | ABN AMRO Bank N.V. |
| Lead arrangers |
ABN AMRO, Bank of Tokyo-Mitsubishi, BNP Paribas, ING Bank, Rabobank, Royal Bank of Scotland |
| Maturity |
3 July 2024 |
Funding programmes & related documents
The Euro Medium Term Note programme allows Stedin Groep to issue notes with various maturities from 1 year typically up to 30 years in different currencies. The current EMTN programme size is EUR 3.000.000.000.
This last prospectus enclosed below is approved by the Dutch Authority for the Financial Markets (AFM) and is valid for 1 year following the date of approval.
| Issuer | Stedin Holding N.V. |
| Arrangers |
Coöperatieve Rabobank U.A. |
| Amount |
EUR 3.000.000.000 |
| Dealers | ABN AMRO Bank N.V. |
| BNP Paribas Coöperatieve Rabobank U.A. ING Bank N.V. MUFG Securities EMEA plc NatWest Markets N.V |
|
| Ranking |
Senior Unsecured Notes |
Supplement to the base prospectus 20 May 2022
Base prospectus 21 October 2021
Base prospectus 1 November 2019
| Issuer |
Stedin Holding N.V. |
| Advising bank | ING Bank N.V. |
| Amount |
EUR 750.000.000 |
| Dealers | ABN AMRO |
| BNP Paribas Citigroup ING Rabobank NatWest Markets |
|
| Ranking |
Senior Unsecured Notes |
| Rating |
A-2 |
| Issue & Paying Agent |
Citibank, N.A., London Branch |
Credit Ratings
Standard & Poor's issued a rating update on September 29, 2017 for Stedin Holding N.V. and the rating for Stedin Netbeheer B.V. The current ratings, shown below, are a reflection of the high degree of creditworthiness of Stedin Group and the positive attitude of Standard & Poor's regarding the positioning, strategy and management of the organization.
The solid cash flow, conservative financial strategy and the availability of committed credit facilities contribute to the current ratings.
| Description | Rating |
| Corporate Credit rating Stedin Holding N.V. | A-/Stable/A-2 |
| Corporate Credit rating Stedin Netbeheer B.V. | A-/Stable/ - - |
| Instrument | Rating | Rating date |
| EUR 750 million ECP program | A-2 | June 17, 2016 |
| EUR 500 million Perpetual Fixed Rate Reset Securities (Hybrid) | BBB | March 22, 2021 |
S&P report - Ratings Direct februari 8, 2024
Rating Bulletin – Rating Direct februari 14, 2023
Rating Bulletin - Rating Direct July 25, 2022
S&P report - Ratings Direct november 8, 2021
S&P report - Ratings Direct september 2, 2020
S&P report - Ratings Direct july 31, 2019
S&P report - Ratings Direct october 23, 2018
S&P report - Ratings Direct september 29, 2017
S&P report - Ratings Direct april 6, 2017
Contact Investor Relations
Manager Treasury Stedin Groep
Sebastiaan Weeda
E-mail: Sebastiaan.Weeda@stedingroep.nl
