Investor Relations

Debt Financing

Yara uses different sources to access the debt market to achieve financial flexibility. The table below provides a split of the gross interest bearing debt.
NOK million  30 Sep 2016  31 Dec 2015
Bank loans and overdraft facilities 3,380 4,633
Commercial papers  0  0
Unsecured debenture bonds  11,564  8,893
Other 530  1,565
Total 15,475  15,091

Yara does not have specific debt ratio targets but aims at having a medium grade credit rating. The only financial covenant is to have a debt to equity ratio below 1.4. The ratio was 0.14 at the end of 3Q 2016.

Yara has official ratings from Moody's Investor Services (Moody's) and Standard & Poor's. Rating details can be found in the Rating section. Information on Yara's bonds can be found in the Bonds section.

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