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.

31.12.2022 in EUR million

SSD I EUR-14-2
SSD II EUR-16-27
Total in EUR-57-18-27-42

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.

31.12.2022 in EUR million

Revolving Credit Facility-43
Total in EUR million-43-254

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, 2022: 71 EUR million

Reverse FactoringYesYesNo

Supply Chain Financing Program

  • ABS Program: Germany EUR 12 mill., USA EUR 13 mill.

  • Factoring Program: Europe EUR 8 mill., USA EUR 22 mill.

  • Reverse Factoring Program: Europe EUR 21 mill., USA EUR 2 mill.

  • In Total Supply Chain Financing Volume as of 31.12.2022: EUR 77 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.

31.12.2022 in Mio. EUR

Total in EUR-25

IR Presentation
FY 2021

March 23, 2022

Annual Report

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.


Uncomitted Lines Volume

Flexible uncommitted Accordion that grows with NORMA‘s success and is driven by its leverage. As of 31.12.22: on top of the committed line: more than 200m


Get in touch with us for more support.

Contact Us

To top