Financial Instruments of NORMA Group

NORMA Group generally strives to achieve a diversification of its financing instruments in order to reduce risks. These also include prolongation of repayment obligations and an even distribution of the maturity profile.

Promissory notes

Promissory notes have been used several times for the refinancing, in recent years. The wide investor base and the low effort required for the documentation, in particular, make an interesing instrument.

31.12.2018 in Mio. EUR

20192020202120222023202420252026
SSD I EUR-29-21
SSD I USD
SSD II EUR-28-19-45
SSD II USD-79-15
SSD III EUR-30-31-42
SSD III USD-34-11
Total in EUR-106-29-99-63-45-42

Syndicated Bank Loan

NORMA Group's syndicated bank loan is regularly adjusted (Amend & Extend) or replaced by a new bank loan. In particular, the flexibility respectively draw repayment of the individual component make the product attractive.

31.12.2018 in Mio. EUR

20192020202120222023202420252026
EUR-1-1-1-116
USD-4-4-4-54
Total in EUR-5-5-5-170

ABS / Factoring / Reverse Factoring

The programs serve as an admixture to the financing mix. Not only do they not weigh on the level of indebtedness, but they also widen leeway for debt. In addition, improvements in operating cash flow and the debt ratio Total-Net-Debt Cover are possible – both relevant control parameters of the NORMA Group.

Volume as of Dec 31, 2018: 80M EUR

AmericasEuropeAPAC
ABSYesYesNo
FactoringYesYesNo
Reverse FactoringYesYesNo

Supply Chain Financing Program


  • ABS Program: Germany EUR 15.2 Mio., USA 22 Mio.

  • Factoring Program: Europe EUR 8.6 Mio., USA EUR 15.4 Mio.

  • Reverse Factoring Program: Germany EUR 14.9 Mio., USA EUR 4.3 Mio.

  • In Total Supply Chain Financing Volume as of 31.12.2018: EUR 80.4 Mio.

Commercial Paper (CP) Program

NORMA Group's CP Program is currently being planned and should expand the financing mix in the medium term. In particular, the favorable conditions and the possibility of quick draw and repayment are beneficial for NORMA Group.

Credit Lines

Lines are held for a short-term, medium-sized needs. These can be used for (small) acquisitions or replace other component in the financing mix, which will not be continued.

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Comitted Lines Volume
50M EUR

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Uncomitted Lines Volume
148M EUR

Leases

NORMA Group is contractual party in lease agreements accounted in accordance with IFRS 16. The new standard provides a single lessee accounting model whereby leases are recognized in the lessee's balance sheet (right-of-use-asset and lease liability).

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