At a glance
Net debt
December 31, 2021: net debt of €9,983 million (gross debt of €20,250 million after derivatives minus cash and cash equivalent of €12,267 million after derivatives)
Net debt is a non GAAP measure
Gearing ratio: Debt, net of cash and cash equivalents, to total equity
|
€ MILLION |
2021 |
2020 |
|
LONG-TERM DEBT |
17 123 |
19,745 |
|
SHORT-TERM DEBT AND |
3 183 |
2,767 |
|
INTEREST RATE AND |
-56 |
119 |
|
TOTAL DEBT |
20 250 |
22,631 |
|
CASH AND CASH |
10 098 |
(13,915) |
|
INTEREST RATE AND |
-169 |
74 |
|
NET DEBT* |
9 983 |
8,790 |
|
TOTAL EQUITY |
69 031 |
63,147 |
|
GEARING RATIO |
14.5% |
13.9% |
*With effect from January 1, 2019, the first-time application of IFRS 16 means that lease liabilities are not included in net debt.
Credit ratings
Credit ratings assess the credit worthiness of the Company and its ability to pay its debt.
Sanofi is followed by three credit rating agencies:
|
|
MOODY’S |
STANDARD & |
SCOPE RATINGS |
|---|---|---|---|
|
ANALYST |
Marie Fischer-Sabatie |
Sabrina Boudella |
Olaf Tolke |
|
SHORT-TERM RATING |
P-1 |
A-1+ |
S-1+ |
|
LONG-TERM RATING |
A1 |
AA |
AA |
|
OUTLOOK |
Stable |
Stable |
Stable |
|
LAST UPDATE |
December 21, 2021 |
August 13, 2021 |
April 20, 2022 |
Debt structure
Gross debt structure at value on redemption as of December 31, 2021
Financing instruments
Public debt programs as of December 31, 2021
EMTN program: €25 billion
Implemented in May 17, 2021
US SEC Shelf Registered program:
no specific size
Implemented in July 21, 2021
Negotiable European Commercial
Papers (NEU CP): €6 billion
Implemented on June 9, 2021
U.S. Commercial Papers: $10 billion
Implemented in December 22, 2004
Syndicated credit lines as of December 31, 2021
|
SIZE |
MATURITY |
|---|---|
|
€4 billion |
December 2022 |
|
€4 billion |
December 2026 |
Bonds as of December 31, 2021
Bonds Issued by Sanofi S.A
|
ISSUANCE DATE |
AMOUNT |
MATURITY |
COUPON |
ISIN |
PROGRAM |
|---|---|---|---|---|---|
|
NOV. 14, 2013 |
EUR 1,000 |
Nov. 14, 2023 |
2.500% |
FR0011625433 |
EMTN |
|
SEPT. 10, 2014 |
EUR 1,000 |
March 10, 2022 |
1.125% |
FR0012146777 |
EMTN |
|
SEPT. 10, 2014 |
EUR 1,510 |
Sept. 10, 2026 |
1.750% |
FR0012146801 |
EMTN |
|
SEPT. 22, 2015 |
EUR 750 |
Sept. 22, 2025 |
1.500% |
FR0012969038 |
EMTN |
|
APRIL 5, 2016 |
EUR 600 |
April 5, 2024 |
0.625% |
FR0013143997 |
EMTN |
|
APRIL 5, 2016 |
EUR 700 |
April 5, 2028 |
1.125% |
FR0013144003 |
EMTN |
|
SEPT. 13, 2016 |
EUR 850 |
Sept. 13, 2022 |
0.000% |
FR0013201621 |
EMTN |
|
SEPT. 13, 2016 |
EUR 1,150 |
Jan. 13, 2027 |
0.500% |
FR0013201639 |
EMTN |
|
MARCH 21, 2018 |
EUR 1750 |
March 21, 2023 |
0,500% |
FR0013324332 |
EMTN |
|
MARCH 21, 2018 |
EUR 1500 |
March 21, 2026 |
1,000% |
FR0013324340 |
EMTN |
|
MARCH 21, 2018 |
EUR 2000 |
March 21, 2030 |
1,375% |
FR0013324357 |
EMTN |
|
MARCH 21, 2018 |
EUR 1250 |
March 21, 2038 |
1,875% |
FR0013324373 |
EMTN |
|
JUNE 19, 2018 |
USD 1000 |
June 19, 2023 |
3,375% |
US801060AC87 |
SEC REGISTERED |
|
JUNE 19, 2018 |
USD 1000 |
June 19, 2028 |
3,625% |
US801060AD60 |
SEC REGISTERED |
|
MARCH 21, 2019 |
EUR 850 |
March 21, 2022 |
0.000% |
FR0013409836 |
EMTN |
|
MARCH 21, 2019 |
EUR 650 |
March 21, 2029 |
0.875% |
FR0013409844 |
EMTN |
|
MARCH 21, 2019 |
EUR 500 |
March 21, 2034 |
1.250% |
FR0013409851 |
EMTN |
|
MARCH 30, 2020 |
EUR 1000 |
April 1, 2030 |
1.500% |
FR0013505112 |
EMTN |
|
MARCH 30, 2020 |
EUR 1000 |
April 1, 2025 |
1.000% |
FR0013505104 |
EMTN |
Notes:
- Private placements are not included in this list
- Before derivative instruments
- €850 million fixed rate notes, due April 2025 | Standalone Prospectus | Standalone Prospectus
- €650 million "Sustainability-linked" notes, due April 2029 | Standalone Prospectus