The unification of the Unilever Group’s dual headed structure comprising Unilever NV and Unilever PLC took place on 29 November 2020. On unification Unilever PLC acquired all of the assets, liabilities and legal relationships of Unilever NV and Unilever NV was dissolved without going into liquidation and ceased to exist.
As part of unification, all of the bonds issued by Unilever NV under Unilever’s European Debt Issuance Programme were transferred on 26 November 2020 to Unilever Finance Netherlands BV, a wholly owned subsidiary of Unilever PLC, which is guaranteed on a joint and several basis by Unilever PLC and Unilever United States, Inc.
The bonds issued by Unilever Capital Corporation under the Unilever Group’s US Shelf Registration Programme were unaffected by unification and remain guaranteed on a joint and several basis by Unilever PLC and Unilever United States, Inc.
Unilever aims to maintain a competitive balance sheet which provides us with:
- Appropriate access to the debt and equity markets
- Sufficient flexibility for acquisitions
- Sufficient resilience against economic and financial uncertainty while ensuring ample liquidity
Corporate credit ratings
Credit rating | Standard & Poor's | Moody's |
|---|---|---|
Long term | A+ | A1 |
Short term | A-1 | P-1 |
Outlook | Stable | Stable |
Issuance programme
Unilever mainly funds itself directly in the global debt capital markets. Please find below a summary of the active programmes of the Group. All debt issuance programmes are cross guaranteed by Unilever PLC and Unilever United States, Inc., unless otherwise stated in the relevant documentation.
Bond issuers
Unilever Finance Netherlands B.V.
Bonds issued under the EMTN programme are listed on Euronext Amsterdam.
ISIN | Issue date | Maturity date | Coupon | Amount outstanding (M) | Currency |
|---|---|---|---|---|---|
XS2450200824 | 28/02/2022 | 28/02/2026 | 0.750% | 500 | EUR |
XS2481498173 | 16/05/2022 | 16/11/2028 | 1.750% | 650 | EUR |
XS2450200741 | 28/02/2022 | 28/02/2031 | 1.250% | 650 | EUR |
XS2591848275 | 23/02/2023 | 23/02/2031 | 3.250% | 500 | EUR |
XS2481498256 | 16/05/2022 | 16/05/2034 | 2.250% | 850 | EUR |
XS2591848192 | 23/02/2023 | 23/02/2035 | 3.500% | 500 | EUR |
Unilever N.V.
The bonds issued by Unilever N.V. were transferred to Unilever Finance Netherlands BV on 26 November 2020 as part of the unification of Unilever N.V. and Unilever PLC, and remain guaranteed by Unilever PLC and Unilever United States, Inc.
Bonds issued under the EMTN programme are listed on Euronext Amsterdam. Bonds issued prior to 2021 are also listed on the London Stock Exchange.
ISIN | Issue date | Maturity date | Coupon | Amount outstanding (M) | Currency |
|---|---|---|---|---|---|
XS1241577490 | 03/06/2015 | 03/06/2023 | 1.000% | 500 | EUR |
XS1769090728 | 12/02/2018 | 12/08/2023 | 0.500% | 500 | EUR |
XS1403014936 | 29/04/2016 | 29/04/2024 | 0.500% | 500 | EUR |
XS18732089503 | 04/09/2018 | 06/01/2025 | 0.500% | 650 | EUR |
XS2147133495 | 25/03/2020 | 25/03/2025 | 1.250% | 1000 | EUR |
XS1654192191 | 31/07/2017 | 31/07/2025 | 0.875% | 650 | EUR |
XS1769090991 | 12/02/2018 | 12/02/2027 | 1.125% | 700 | EUR |
XS1566101603 | 14/02/2017 | 14/02/2027 | 1.000% | 600 | EUR |
XS1403015156 | 29/04/2016 | 29/04/2028 | 1.125% | 700 | EUR |
XS1654192274 | 31/07/2017 | 31/07/2029 | 1.375% | 750 | EUR |
XS2147133578 | 25/03/2020 | 25/03/2030 | 1.750% | 1000 | EUR |
XS18732091724 | 04/09/2018 | 04/09/2030 | 1.375% | 650 | EUR |
XS1769091296 | 12/02/2018 | 12/02/2033 | 1.625% | 800 | EUR |
Unilever PLC
Bonds issued under the EMTN programme are listed on Euronext Amsterdam. Bonds issued prior to 2021 are also listed on the London Stock Exchange.
ISIN | Issue Date | Maturity Date | Coupon | Amount outstanding (M) | Currency |
|---|---|---|---|---|---|
XS1684780031 | 15/09/2017 | 15/09/2024 | 1.375% | 250 | GBP |
XS2008921277 | 11/06/2019 | 22/07/2026 | 1.500% | 500 | GBP |
XS2450201046 | 28/02/2022 | 28/02/2028 | 2.125% | 300 | GBP |
XS1684780205 | 15/09/2017 | 15/09/2029 | 1.875% | 250 | GBP |
XS2008925344 | 11/06/2019 | 11/06/2039 | 1.500% | 650 | EUR |
Unilever Capital Corporation
ISIN | CUSIP | Issue Date | Maturity Date | Coupon | Amount outstanding (M) | Currency |
|---|---|---|---|---|---|---|
US904764BJ56 | 904764BJ5 | 14/09/2020 | 14/09/2023 | 0.375% | 500 | USD |
US904764BE69 | 904764BE6 | 07/09/2018 | 07/03/2024 | 3.250% | 500 | USD |
US904764AX59 | 904764AX5 | 05/05/2017 | 05/05/2024 | 2.600% | 1000 | USD |
US904764BN68 | 904764BN6 | 12/08/2021 | 12/08/2024 | 0.626% | 500 | USD |
US904764BB21 | 904764BB2 | 22/03/2018 | 22/03/2025 | 3.375% | 350 | USD |
US904764AS64 | 904764AS6 | 31/07/2015 | 30/07/2025 | 3.100% | 500 | USD |
US904764AU11 | 904764AU1 | 28/07/2016 | 28/07/2026 | 2.000% | 700 | USD |
US904764AY33 | 904764AY3 | 05/05/2017 | 05/05/2027 | 2.900% | 1000 | USD |
US904764BC04 | 904764BC0 | 22/03/2018 | 22/03/2028 | 3.500% | 1300 | USD |
US904764BH90 | 904764BH9 | 06/09/2019 | 06/09/2029 | 2.125% | 850 | USD |
US904764BK20 | 904764BK2 | 14/09/2020 | 14/09/2030 | 1.375% | 500 | USD |
US904764BQ99 | 904764BQ9 | 12/08/2021 | 12/08/2031 | 1.75% | 850 | USD |
US904764AH00 | 904764AH0 | 15/11/2002 | 15/11/2032 | 5.900% | 1000 | USD |
US904764BR72 | 904764BR7 | 12/08/2021 | 12/08/2051 | 2.625% | 650 | USD |
Other Issuers
Unilever inherited the following bonds through acquisitions. These bonds have the same cross guarantees by Unilever PLC and Unilever United States, Inc. as bonds listed under the EMTN Programme and US Shelf.
Entity | Programme | ISIN | CUSIP | Issue Date | Maturity Date | Coupon | Amount outstanding (M) | Currency |
|---|---|---|---|---|---|---|---|---|
Conopco, Inc. | Bestfoods | US126149AD59 | 126149AD5 | 18/12/1996 | 15/12/2026 | 7.250% | 300 | USD |
Conopco, Inc. | Bestfoods | US08658EAA55 | 08658EAA5 | 24/03/1998 | 15/04/2028 | 6.625% | 250 | USD |
Conopco, Inc. | Bestfoods | US12614QAK13 | 12614QAK1 | 24/10/1997 | 15/10/2097 | 5.600% | 129.6 | USD |
Bond maturity profile
Unilever aims to maintain a smooth maturity profile for its long-term debt to minimise refinancing risk on any given year.
- Total outstanding: €24.8bn
- Average years to maturity: 6.1 years
- Average issuance rate: 2.07%
Outstanding Bonds (€24.8 bn) - 31 March 2023
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Committed bank facilities
On 31 March 2023 Unilever had undrawn revolving 364-day bilateral credit facilities in aggregate of $5,200 million and €2,550 million with a 364-day term out.
Institutional investor contacts
If you are an institutional investor or an analyst following Unilever, please contact Unilever Investor Relations using the following details:
T: +44 (0) 20 7822 6830
In case of questions, contact any of the dealers: Goldman Sachs Bank Europe SE, J.P. Morgan SE, NatWest Markets PLC or UBS AG London Branch
In case of questions, contact any of the dealers: BofA Securities, Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC or Mizuho Securities USA LLC
These bonds were issued by Unilever N.V. under a separate prospectus and terms and not under the EMTN Programme. These bonds are dual listed on the London Stock Exchange and Euronext Amsterdam and have the same guarantees as bonds issued by Unilever N.V. under the EMTN Programme.
These bonds were issued by Unilever N.V. under a separate prospectus and terms and not under the EMTN Programme. These bonds are dual listed on the London Stock Exchange and Euronext Amsterdam and have the same guarantees as bonds issued by Unilever N.V. under the EMTN Programme.