Debt financing
Yara Green Financing Framework 2022
With its first Green Financing Framework Yara further underline its commitment to sustainability. The eligible green projects are expected to create substantial environmental benefits by decarbonizing the food chain, including fertilizer production and application, and limiting the need to expand farmland. CICERO has provided the second party opinion and rated the framework medium-green.
You can read more by downloading the Yara Green Financing Framework here (pdf, 3.9 MB) and the second party opinion from CICERO here (pdf, 0.6 MB). Green Bond Allocation Report 2022 can be found here (pdf, 5.9 MB).
Debt
We do not have specific debt ratio targets, but aim at having a medium investment grade credit rating. The only financial covenant is to have a debt to equity ratio below 1.4. The ratio was 0.47 at the end of 3Q 2024.
| USD million | 30 Sep 2024 | 31 Dec 2023 |
|---|---|---|
| Bank loans and overdraft facilities | 315 | 355 |
| Unsecured debenture bonds | 3,574 | 3,307 |
| Other | 128 | 139 |
| Total | 4,017 | 3,801 |
Credit Ratings
Yara has official ratings from Moody's Investors Services (Moody's) and S&P Global Ratings (S&P Global).
For rating definitions, see S&P Global and Moody's (links will open in a new window).
| Rating agency | Date of rating report | Rating | Outlook |
| S&P Global | 2024/12/09 | BBB/A-2 (since 10/2007) | Stable |
| Moody's | 2024/11/22 | Baa2 (since 11/2004) | Stable |
Download the S&P Global Ratings report of 9 December 2024 (pdf, 0.2MB) and the Moody's report of 22 November 2024 (pdf, 0,2MB).
ESG Scores
ESG ratings are efficient tools to compare our sustainability performance to that of peers, map best practices and track reporting trends. See Yara's most recent ESG scores.
Bonds
| ISIN | Currency | Interest | Amount (millions) | Maturity |
| NO0010727993 | NOK | 3.00% | 600 | Dec 2024 |
| NO0010811987 | NOK | 2.45% | 1,000 | Dec 2024 |
| US984851AD75 (144A) / USR9900CAQ98 (Reg S) | USD | 3.80% | 500 | Jun 2026 |
| NO0011146383 | NOK | 2.41% | 1,000 | Nov 2026 |
| NO0011146391 | NOK | NIBOR03M + 0.64% | 1,150 | Nov 2026 |
| NO0010811995 | NOK | 2.90% | 1,000 | Dec 2027 |
| US984851AF24 (144A) / USR9900CAR71 (Reg S) | USD | 4.75% | 1,000 | Jun 2028 |
| NO0013261065 | NOK | 4.82% | 900 | Jun 2029 |
| NO0013261057 | NOK | NIBOR03M + 0.97% | 1,150 | Jun 2029 |
| US984851AG07 (144A) / USR9900CAS54 (Reg S) | USD | 3.148% | 750 | Jun 2030 |
| US984851AH89 (144A) / USR9900CAT38 (Reg S) | USD | 7.378% | 600 | Nov 2032 |
| NO0013261081 | NOK | 5.04% | 700 | Jun 2034 |
Maturity profile and financial capacity
We have substantial undrawn credit facilities which provide financial flexibility. You can find the maturity profile of our bond debt here.
