Debt financing

Schibsted’s most important sources of debt financing are bonds and loans, as well as a flexible revolving credit facility.

In April Schibsted extended NOK 1.8 billion, of a total term loan of NOK 2 billion, by one year to 3 May 2025.

In May, Schibsted issued two new bonds; a 5 year term floating rate note of NOK 500 million and a 7 year term fixed interest rate bond of NOK 500 million. In June, two bonds totalling NOK 900 million expired. During Q1 and in connection with the bond issues in May, Schibsted has purchased parts of its own bonds expiring in June and October this year and the net outstanding amount of the bonds that expired in June were repaid at maturity. Including bond buybacks, the net amount due of the bond expiring in October is NOK 450 million.

Schibsted has a revolving credit facility of EUR 300 million. The facility has in June been extended by one year and the final maturity of the facility is in July 2028. The facility is not drawn and secures a strong liquidity buffer going forward. Scope Ratings restated its BBB/Stable rating of Schibsted in June which confirms Schibsted as a solid Investment Grade company.

As of 30 June 2023, Schibsted’s financing structure is as follows:

Interest-bearing debt (NOK million)

Bonds/FRNs3 950
Term loan2 000
Bilaterale loans180
 Total6 139

Further information on the respective debt categories is found below:

Bonds/Floating Rate Notes (FRN)

ISINAmount (million)Issue dateMaturityInterestSecurity noteReg. document
NO0010786866NOK 500Mar 2017Mar 20243M NIBOR + 120 bpsLinkLink
NO0010878960NOK 450 *April 2020Oct 20233M NIBOR + 240 bpsLinkLink
NO0011157323NOK 1000Nov 2021Nov 20263M NIBOR + 78 bpsLinkLink
NO0012484486NOK 600Mar 2022Sept 20273M NIBOR + 120 bpsLinkLink
NO0012484494NOK 400Mar 2022Mar 20293.95 %LinkLink
NO0012911306NOK 500May 2023May 20283M NIBOR + 145 bpsLinkLink
NO0012911231NOK 500May 2023May 20304.85 %LinkLink

* including bond buybacks


Nordic Investment BankEUR 15.4June 2015June 20256M EURIBOR + margin
Term loanNOK 2 000May 2022May 2025 *NIBOR + margin

* NOK 1.8 billion of the term loan has been extended to May 2025

Credit facility

Revolving Credit FacilityEUR 300July 2021July 2028Relevant IBOR + margin

Revolving credit facility, term loan and bonds fall due in their entirety at the stated due date. The loan in NIB have a regulated repayment profile. Final due dates are stated in the above table.

Schibsted’s long-term loans carry a floating interest rate and are linked to the money market interest rates plus a margin. The bonds with fixed interest rate have been swapped to floating interest rate at origination.

Schibsted’s loan agreements contain requirements for net interest-bearing debt (NIBD) in relation to the operating profit before depreciation and amortization (EBITDA).

Based on the most recently published quarterly report at 30 June 2023, Schibsted has undrawn credit facility amounting to NOK 3.5 billion.

Debt Maturity Profile

For more information, see Regulatory Releases