Debt

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Credit rating
  Short-term rating Long-term rating
Moody's - Baa1
Stable outlook
(rating revised on 12/23/2014)
Standard & Poor'sA-2
(rating assigned on 07/07/2007)
A-
Negative outlook
(outlook revised on 12/15/2014)
Source of financing
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As of December 31 of each period

€ million



Amount
available
as of 2014
Amount
available
as of 2015
Amount
available
as of 2016
Amount
available
as of 2017
Amount
available
as of 2018
Amount
available
as of 2019
Credit facilities (1) 5,465 5,4654,5153,2472,5972,397
Other credit facilities(2) 326 - - - - -

(1) Nominal amount of the portion of the syndicated credit facility and back-up credit facilities managed at the Company level and not drawn as of December 31, 2014
(2) Nominal amount of the portion not drawn as of December 31, 2014

Net debt
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Net financial debt represents the next debt portion bearing interest. It corresponds to current and non-current financial debt excluding Liabilities related to put options granted to non-controlling interests and net of Cash and cash equivalents, Short-term investments and Derivatives - assets.

(€ million) At December 31, 2013 At December 31, 2014
Non current financial debt (1) 7,065 6,598
Current financial debt 4,862 4,544
Short-term investments (2,862) (2,317)
Cash and cash equivalents(969)(880)
Derivatives - assets(130)(181)
Net debt7,9667,764
- Liabilities related to put options granted to non-controlling interests - non current

- Liabilities related to put options granted to non-controlling interests - current
(477)


(2,767)
(349)


(2,209)
Financial debt excluded from net financial debt(3,244)(2,558)
Net financial debt 4,7225,206

(1) include passive derivatives instruments

EMTN Base Prospectus

Download the EMTN prospectus dated 24th October 2014 pdf

Download the EMTN prospectus dated 28th October 2013 pdf

Download the EMTN prospectus dated 26th October 2012 pdf

Download the EMTN prospectus dated October 27th 2011pdf

Download the EMTN prospectus dated October 26th 2010pdf

Download the EMTN prospectus dated April 21st 2010 pdf

Final Terms (bonds issued under EMTN Programme)

EUR 550 000 000 - FRN - January 2020 for 5-year tranche pdf

EUR 750 000 000 - 1.125% - January 2025 for 10-year tranche pdf

EUR 150 000 000 - FRN - May 2019 pdf

EUR 1 000 000 000 - 2.25% - November 2021 pdf

EUR 500 000 000 - 2.60% - June 2023 pdf

EUR 650 000 000 - 1.375% - June 2019 pdf

EUR 750 000 000 - 1.25% - June 2018 pdf

EUR 750 000 000 - 1.125% - November 2017pdf

EUR 95 000 000 - 1.10% - September 2017pdf

JPY 7 500 000 000 - 1.0275% - November 2018 pdf

JPY 6 000 000 000 - 1.4070% - September 2021 pdf

EUR 500 000 000 - 2.50% - September 2016 pdf

JPY 10 500 000 000 - 1.4250 % - September 2021 pdf

JPY 8 000 000 000 - 1.5125% - June 2021 pdf

EUR 500 000 000 - 3.60% - November 2020 pdf

JPY 11 000 000 000 - 1.244% - June 2017 pdf

Supplement to the Base Prospectus

Prospectus supplement dated 8 April 2015 to the base prospectus dated 24 October 2014 pdf

Prospectus supplement dated 27 February 2015 to the base prospectus dated 24 october 2014 pdf

Prospectus supplement dated 05 January 2015 to the base prospectus dated 24 October 2014pdf

Prospectus supplement dated 29 July 2014 to the base prospectus dated 28 October 2013pdf

Prospectus supplement dated 04 April 2014 to the base prospectus dated 28 October 2013pdf

Prospectus supplement dated 26 February 2014 to the base prospectus dated 28 October 2013pdf

Prospectus supplement dated 1 August 2013 to the base prospectus dated 26 October 2012pdf

Prospectus supplement dated 3 April 2013 to the base prospectus dated 26 October 2012pdf

Prospectus supplement dated 25 February 2013 to the base prospectus dated 26 October 2012pdf

Prospectus supplement dated 30 August 2012 to the base prospectus dated 27 October 2011pdf

Prospectus supplement dated 02 April 2012 to the base prospectus dated 27 October 2011pdf

Prospectus supplement dated 20 February 2012 to the base prospectus dated 27 October 2011 pdf

Prospectus supplement dated 26 August 2011 to the base prospectus dated 26 october 2010pdf

Prospectus supplement dated 13 april 2011 to the base prospectus dated 26 october 2010pdf

Prospectus supplement dated 18 february 2011 to the base prospectus dated 26 october 2010pdf

Prospectus supplement dated 30 july 2010 to the base prospectus dated 21 april 2010pdf