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.

31.12.2020 in Mio. EUR

202120222023202420252026
SSD I EUR-14-7
SSD I USD
SSD II EUR-4-4-16-27
SSD II USD-3
SSD III EUR-30-31-42
SSD III USD-32-11
Total in EUR-69-4-55-23-27-42

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.

31.12.2020 in Mio. EUR

2020202120222023202420252026
EUR-139
USD-99
Total in EUR-239

ABS / Factoring / Reverse Factoring

NORMA Group uses these programs in addition to its diversified financing mix in order to flexibly exploit opportunities to improve the net operating cash flow on the one hand and to reduce the leverage ratio on the other hand.

Volume as of Dec 31, 2020: 52M EUR

AmericasEuropeAPAC
ABSYesYesNo
FactoringYesYesNo
Reverse FactoringYesYesNo

Supply Chain Financing Program


  • ABS Program: Germany EUR 12 mill., USA EUR 11 mill.

  • Factoring Program: Europe EUR 6 mill., USA EUR 8 mill.

  • Reverse Factoring Program: Europe EUR 14 mill., USA EUR 1 mill.

  • In Total Supply Chain Financing Volume as of 31.12.2020: EUR 52 Mio.

Commercial Paper (CP) Program

Commercial Paper (short CP) is a short-term bearer bond (Inhaberschuldverschreibungen) with a money market character. The total volume of the program covers EUR 300 Million. NORMA Group effectively draws up to EUR 50 Million in individual different tranches. If there is liquidity requirement CP’s can be issued on a short-term notice. There is no obligation to issue CP’s for NORMA Group.

The running time of the CP’s could be between seven days and one year. The costs are typically lower compared to money market loans.

CP’s are usually issued with a discounted amount and repaid at nominal value.

31.12.2020 in Mio. EUR

2020202120222023202420252026
EUR-20
Total in EUR-20

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
130M EUR 31.12.2020

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Uncomitted Lines Volume

Flexible uncommitted Accordion that grows with NORMA‘s success and is driven by its leverage. As of 31.12.20: on top of the committed line: more than 200m

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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