Debt investors
An overview of IHG’s debt facilities is provided on this page, with more information available in our Annual Report, the Results and Presentations section of this website and from debt-related Regulatory News. The documents relating to the Group’s Euro Medium Term Note Programme can be downloaded below:
- Base Prospectus dated 21 September 2023
- Base Prospectus dated 19 September 2024
- The agency agreement
- The trust deed
- InterContinental Hotels Group PLC - articles of association
- InterContinental Hotels Limited - articles of association
- Six Continents Limited - articles of association
- IHG Finance LLC - operating agreement
- £400m 3.375% October 2028 – Final Terms
- €500m 1.625% October 2024 – Final Terms
- €600m 4.375% November 2029 – Final Terms
- €750m 3.625% September 2031 – Final Terms
The information below was correct at 8 October 2024:
Current Bonds
|
Amount Issued |
Amount Outstanding |
Maturity |
Interest Rate |
|
GBP 300m |
GBP 300m |
Aug 25 |
3.75% |
| GBP 350m | GBP 350m | Aug 26 | 2.125% |
| EUR 500m | EUR 500m | May 27 | 2.125%* |
| GBP 400m | GBP 400m | Oct 28 | 3.375% |
| EUR 600m | EUR 600m | Nov 29 | 4.375%** |
| EUR 750m | EUR 750m | Sept 31 | 3.625%*** |
* Swapped to GBP 436m at 3.5%
** Swapped to USD 657m at 5.97%
*** Swapped to USD 834m at 4.90%
Committed Bank Facilities
|
Amount |
Maturity |
Interest Rate |
|
USD 1,350m |
April 2028 |
SOFR (USD) / SONIA (GBP) + margin (0.5% - 1.0%) |
There are two financial covenants: interest cover and leverage ratio. Covenants are tested at half year and full year on a trailing 12-month basis. The interest cover covenant requires a ratio of Covenant EBITDA to Covenant interest payable above 3.5:1 and the leverage ratio requires Covenant net debt to Covenant EBITDA below 4.0:1.
|
Agency |
Long Term Rating |
Outlook |
|
S&P |
BBB |
Stable |
| Moody's | Baa2 | Stable |