Gaining the confidence of investors to accelerate our development.
Tikehau Capital’s financial partners recognise the Group’s long-term growth strategy. This confidence enables us to diversify our sources of financing and mitigate exposure to interest rate fluctuations. Furthermore, this supports the Group’s ESG commitments.
Presentation
September 2023 – Credit Investor Presentation
Presentation
October 2022 - Credit Update
Presentation
March 2021 - €500m 2029 Sustainable bond issue
Credit Rating
Fitch Ratings
In early 2019, Tikehau Capital was assigned its inaugural rating by financial ratings agency Fitch Ratings. This Investment Grade rating (BBB - stable outlook) confirms the strength of Tikehau Capital's financial profile.
On 21 May 2024, Fitch Ratings reaffirmed the long-term rating of Tikehau Capital at BBB- with a stable outlook.
In its statement, Fitch Ratings highlighted the strength of Tikehau Capital's financial profile and model while keeping financial ratios at levels consistent with an Investment Grade profile pursuing its development strategy in a decelerating market context.
FITCH RATINGS RELEASES
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S&P Global Ratings
On 21 March 2022, Tikehau Capital obtained a second financial rating from the financial rating agency S&P Global Ratings. With a stable outlook, this investment grade rating (BBB-) confirms the strength of Tikehau Capital's financial profile.
On 28 March 2024, S&P Global Rating re-affirmed Tikehau Capital’s Investment Grade (BBB-) with a stable outlook.
In its statement, S&P Global Ratings highlighted the company's ability to use its own balance sheet to develop new strategies and fund vintages, aligning its interests with those of investors and successfully accelerating the growth of third-party AuM. Moreover, S&P Global Ratings expressed its confidence in the Group ability to navigate the business through a volatile current environment.
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Credit Lines
Syndicated Revolving Credit Facility
The €800 million Syndicated Revolving Credit Facility signed on 15 July 2021 has a 5-year maturity. Following two successive maturity extensions, the loan will mature on 13 July 2028.
Bonds & Private Placements
On 24 November 2017, the Group announced that it had placed a bond issue of €300 million, maturing in November 2023, with 3% coupon. Settlement took place on 27 November 2017.
On 7 October 2019, the Group announced that it had placed a second bond issue of €500 million, maturing in October 2026, with 2.25%. Settlement took place on 14 October 2019.
On 24 March 2021, the Group announced that it had placed a third bond issue of €500 million, the first Sustainable bond issued by the Group, maturing in March 2029. Settlement took place on 31 March 2021.
This issue of senior unsecured sustainable bond is associated with a fixed annual coupon of 1.625%, the lowest ever achieved by the Group.
On 11 February 2022, The Group announced that it has successfully priced an inaugural US Private Placement (USPP) for a total amount of $180m structured in 2 tranches with maturities of 10 ($115m) and 12 years ($65m), the longest ever achieved by the Group. The use of proceeds will follow the same sustainable framework applying to the sustainable bond issued in March 2021. This transaction highlights US investors’ confidence in the Group’s credit quality and growth strategy over the long term and allows Tikehau Capital to diversify its sources of financing while emphasizing its commitment to sustainability. Pricing was completed on 11 February 2022 and closing occurred on 31 March 2022.
On 8 September 2023, the Group announced that it had successfully launched and priced a fourth sustainable bond issue in the amount of €300 million and maturing in March 2030. This Senior Unsecured sustainable bond issue is associated with a fixed annual coupon of 6.625%. Clearly oversubscribed, it has been placed with a diversified base of more than 60 investors and has been subscribed by more than 80% of non domestic investors.
Maturity Profile - Amortisation Plan
- 100% unsecured debt
- Diversified sources of funding (balanced between bonds and banking debt)
- Limited exposure to interest rate risk (with more than 65% of the total indebtedness with a fixed rate)
Bond Issues
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ESG