In September 2022, Henkel tapped bond markets with a 650 million euros 5-year issuance for general corporate purposes and to repay upcoming maturities of existing financial liabilities.
Bonds
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In particular, the information contained on this website does not constitute an offer of securities for sale or solicitation of an offer to buy securities in the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended.
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The issuance of bonds is mainly used to finance acquisitions and to restructure existing debt. The bonds are issued in various currencies and maturities depending on financing needs. Bonds can be issued under standardized terms within the Debt Issuance Program (DIP) or the local Chinese Panda Bond Program.
Issued Bonds under DIP (10 billion euros)
In November 2021 based on the new Sustainable Finance Framework published in October 2021, Henkel issued two bonds with 500 million euros and 250 million dollars with tenors of 11 and 5 years respectively.
In September 2019, Henkel placed bonds with a total volume of 750 million British pounds to repay parts of the Group’s current commercial paper liabilities. A 350 million British pound bond is still running until September 2026.
The following table shows Henkel’s currently outstanding bonds:
Bonds | ||||
|---|---|---|---|---|
| Maturity Year | 2026 | 2027 | 2032 | |
| Currency | GBP | USD | EUR | EUR |
| Volume | 350 million | 250 million | 650 million | 500 million |
| Sustainability link1 | – | Sustainability-Linked Bond | Sustainability-Linked Bond | Sustainability-Linked Bond |
| Coupon | 1.25% p.a. | 1.75% p.a. | 2.625% p.a | 0.50% p.a. |
| Maturity | 09/30/2026 | 11/17/2026 | 09/13/2027 | 11/17/2032 |
| Issuing year | 2019 | 2021 | 2022 | 2021 |
| Issuing price | 99.99% | 99.692% | 99.649% | 99.989% |
| Initial yield | 1.25% p.a. | 1.815% p.a. | 2.701% p.a | 0.501% |
| Day count convention | Act/Act | 30/360 | Act/Act | Act/Act |
| Denomination | 100,000 GBP | 200,000 USD | 100,000 EUR | 100,000 EUR |
| Security code no. | A2YN23 | A3MQMB | A30VN3 | A3MQMC |
| ISIN | XS2057835808 | XS2407954002 | XS2530219349 | XS2407955827 |
| Listing | Regulated Market of the Luxembourg Stock Exchange | |||
| Issuer | Henkel AG & Co. KGaA | |||
| Rating | Moody's: A2 (Stable Outlook) | |||
| Final Terms | ||||
1 The Sustainability-Linked Bonds use the following Sustainability Performance Targets:
"SPT 1" (Scope 1+2 Emissions), "SPT 2" (Scope 3 Emissions), "SPT 3" (Recycled Plastic). For details please see section "Indicators" in the Sustainability Report.
Abbreviation for “Kommanditgesellschaft auf Aktien.” A KGaA is a company with a legal identity (legal entity) in which at least one partner has unlimited liability with respect to the company’s creditors (personally liable partner, aka general partner), while the liability for such debts of the other partners participating in the share-based capital stock is limited to their share capital (limited shareholders).
Financial Glossary SchließenDebt Issuance Program (DIP)
Henkel usually issues bonds in the most common currencies under standardized conditions in the framework of a Debt Issuance Program (DIP). This is explained in the Information Memorandum, dated 18 March 2026, which serves as prospectus in Germany and Luxembourg. Under this program, Henkel can issue up to 10 billion euros in securities.
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Issued Bonds under the Panda Bond Program (15 billion renminbi)
In January 2026, Henkel accessed the Chinese bond market for the first time by placing a Panda Bond with an issuance volume of 1.5 billion renminbi and a tenor of 3 years. The bond serves general corporate purposes and was issued by Henkel Hong Kong Holding Ltd. as issuer, with Henkel AG & Co. KGaA acting as guarantor.
Henkel’s Panda Bond Program has a total volume of up to 15 billion renminbi. The programme has been approved by the National Association of Financial Market Institutional Investors (NAFMII) and is further supported by two local AAA ratings from S&P Global China Ratings and China Chengxin International Credit Rating Group (CCXI).
The Panda Bonds are issued as private placements. Accordingly, the relevant information memorandum is not published on this website but is available to eligible investors on the NAFMII website.
The table below shows Henkel’s currently outstanding Panda bonds:
Bonds | |
| Maturity Year | 2029 |
| Currency | CNY |
| Volume | 1500 million |
| Coupon | 2.33% p.a. |
| Maturity | 09/01/2029 |
| Issuing year | 2026 |
| Issuing price | 100% |
| Initial yield | 2.33% p.a. |
| Day count convention | Act/Act |
| Denomination | 100 CNY |
| ISIN | CND1000B1MX2 |
| Listing | not listed (Priv. Placement) |
| Issuer | Henkel Hong Kong Holding Ltd. |
| Guarantor | Henkel AG & Co. KGaA |
| Rating | CCXI: AAA (Stable Outlook) |
Additional Information
Annual Report 2025
incl. Sustainability Statement
