Financial strategy
- Steering for a solid balance sheet with a positive consolidated equity
- Aiming at a leverage ratio (adjusted net debt/EBITDA) not exceeding 2.0x
- Strict cash flow management.
Capital structure
- structural availability of € 100 - € 200 million of undrawn committed facilities out of our revolving credit facility;
- structural funding via a combination of public and bank debt, with a risk-weighted mix of fixed and floating interest;
- cash pooling systems that ensure optimal cash requirements for the PostNL Group by facilitating centralised funding and surplus cash concentration at group level;
- tax-optimal internal and external funding focused on optimising the cost of capital for PostNL, within boundaries that are sustainable on a long-term basis.
Credit rating PostNL
| S&P Global Ratings | |
|---|---|
| Long-term | BBB - |
| Outlook | stable outlook |
| Short-term | A-3 |
| Last updated | 12 March 2025 |
PostNL manages its financial position along a cash flow to debt and a debt to EBITDA ratio.
Bond information
PostNL N.V. has three bonds outstanding, all three denominated in EUR. The bonds are listed on Euronext Amsterdam and are rated BBB - by S&P Global.
| 2026 Green Eurobond | 2030 Eurobond | 2031 sustainability-linked Eurobond | |
|---|---|---|---|
| Size | 300 million | 300 million | 300 million |
| Outstanding amount | 105 million | 300 million | 300 million |
| Coupon | 0,625% | 4,000% | 4,750% |
| Issue date | 23 September 2019 | 02 October 2025 | 12 June 2024 |
| Maturity date | 23 September 2026 | 02 October 2030 | 12 June 2031 |
| ISIN code | XS2047619064 | XS3145729557 | XS2803804314 |
| Prospectus | Icon | Icon | Icon |
2019 Green Bond Framework
PostNL has published a Green Bond Framework to detail the following items:
- Company introduction
- Approach to sustainability
- Rationale for the Green Bond programme
- Alignment with the Green Bond Principles
Please see also the Green Bond Framework.
2024 Sustainability-Linked Financing Framework
With the Sustainability-Linked Financing Framework, PostNL aims to further reinforce its commitment to sustainability and accelerate its transition to a truly sustainable e-commerce logistics service provider. The launch of a Sustainability-Linked Financing programme will provide the financial support needed to execute PostNL’s strategic objectives, including its emission-free delivery ambitions.
Second-party opinions
Sustainalytics, an independent provider of environmental, social and governance research and ratings, provided a second-party opinion on:
Green Bond Reporting
During the tenor of the Green Bond, PostNL will report periodically in line with the Green Bond Framework until an amount equal to the net proceeds of the Green Bond has been allocated to eligible green projects.
Please see below the published Green Bond Reports: