Debt & bond investors

Find all information regarding Legrand's debt structure.

Key figures as of March 31, 2025

S&P(1) long term requested rating
A-

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(1)Standard & Poor's

Average maturity of gross debt(1)
5.3 Years

(1)Gross debt = Short-term borrowings + Long-term borrowings

Amount of gross debt(1) (in € billions)
5.4

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(1)Gross debt = Short-term borrowings + Long-term borrowings

Amount of net debt(1) (in € billions)
3.0

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(1)Net debt = Short-term borrowings + Long-term borrowings - Cash and cash equivalents

Net debt(1) to EBITDA(2) ratio
1.5

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(1)Net debt = Short-term borrowings + Long-term borrowings - Cash and cash equivalents

(2)EBITDA for the last twelve months, defined as operating income plus depreciation and impairment of tangible and intangible assets (including capitalised development expenses) and goodwill impairment losses.

 

Trend of the credit rating requested from S&P

Long term ratingShort term ratingOutlookDate of rating
A-A-2Stable06/11/2019
A-A-2Negative06/28/2017
A-A-2Stable02/22/2012
BBB+A-2Stable02/11/2011
BBBA-2Positive01/14/2011
BBBA-2Stable03/22/2007
BBB-A-3Stable04/07/2006

Breakdown of gross debt*

On March 31, 2025, gross debt was €5.4 billion broken down as follows:

*Gross debt = Short-term borrowings + Long-term borrowings

Details of the main financing used by the Group on March 31, 2025(1)

Unlisted financing

 CurrencyAmount (in millions)
NEU CP(2)EUR0
Other unlisted financingEUR620

Listed financing

CategoryCurrencyPar value (in millions)ISIN codeCouponMaturity
BondEUR400FR00133210801,000%06/03/2026
BondEUR355FR00130732771.875%12/16/2027
BondEUR475FR00134289430.625%06/24/2028
BondEUR700FR001400I5S63,500%19/05/2029
BondEUR600FR00135135380.75%05/20/2030
BondEUR600FR0014005OK30.375%10/06/2031
BondEUR500FR00132668481.875%07/06/2032
BondEUR600FR001400QQ303.500%06/26/2034
BondEUR500FR001400Y8Q43.625%19/03/2035

(1) Main financing on December 31, 2023 that does not take account of any changes that may have occurred after that date.
(2) Negotiable EUropean Commercial Paper.

More information can be found on the Banque de France website, through the following link: List of Issuers(banque-france.fr)

Documents bond issue, March 2025

Press release

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Updated Sustainability-Linked Framework following 2050 Net zero committment validated by SBTi, May 2024

SPO (Second-Party Opinion)

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 Sustainability-linked financing Framework

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Notice to bondholders 

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Documents bond issue, May 2023

Verification Assurance Report

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SPO (Second-Party Opinion)

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Sustainability-Linked Financing Framework

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Notice to bondholders 

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Investor presentation

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Press release

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Documents bond issue, September 2021

SPO (Second-Party Opinion)

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Sustainability-Linked Financing Framework

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Press release

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Net debt(1) to EBITDA ratio(2)

On March 31, 2025, the net debt(1) to EBITDA ratio for the last twelve months(2) is 1.5 and is calculated as follows:

Amount of net debt(1)3,032
EBITDA (Last 12 months)(2)528.1
Net debt(1) to EBITDA ratio(2)1.5

(1) Net debt = Short-term borrowings + Long-term borrowings - Cash and cash equivalents.
(2) EBITDA for the last twelve months, defined as operating profit plus depreciation and impairment of tangible and of right of use assets, amortization and impairment of intangible assets (including capitalized development costs), reversal of inventory step-up and impairment of goodwill.