VINCI
Finances
Debt and bond investors
Credit ratings
|
Standard & Poor's |
Moody's |
||||||
|---|---|---|---|---|---|---|---|
|
Long term |
Perspective |
Short term |
Latest |
Long term |
Perspective |
Short term |
Latest |
|
VINCI |
|||||||
|
A - |
Stable |
A - 2 |
09/10/2025 |
A3 |
Stable |
P -2 |
27/05/2025 |
|
A - |
Positive |
A - 2 |
27/03/2018 |
A3 |
Stable |
P -1 |
26/05/2016 |
|
A - |
Stable |
A - 2 |
31/03/2014 |
Baa1 |
|
P -2 |
05/06/2002 |
|
BBB + |
|
A - 2 |
05/04/2002 |
|
|||
|
ASF |
|||||||
|
A - |
Stable |
A - 2 |
27/03/2025 |
A3 |
Stable |
P -2 |
27/05/2025 |
|
A - |
Positive |
A - 2 |
27/03/2018 |
A3 |
Stable |
P -1 |
26/05/2016 |
|
A - |
Stable |
A - 2 |
31/03/2014 |
Baa1 |
|
P -2 |
22/06/2007 |
|
BBB + |
|
A - 2 |
14/12/2005 |
||||
|
A + |
|
A - 1 |
01/04/2003 |
||||
|
AA - |
|
A - 1+ |
26/02/2002 |
||||
|
Cofiroute |
|||||||
|
A - |
Stable |
A - 2 |
23/04/2025 |
||||
|
A - |
Positive |
A - 2 |
27/03/2018 |
||||
|
A - |
Stable |
A - 2 |
30/03/2016 |
||||
|
BBB + |
|
A - 2 |
01/03/2007 |
||||
|
A - |
|
A - 2 |
06/03/2006 |
||||
|
A |
|
A - 1 |
26/04/2005 |
||||
|
A + |
|
A - 1 |
01/04/2003 |
||||
|
AA - |
|
A - 1+ |
16/10/2000 |
||||
|
AA |
|
A - 1+ |
12/06/1996 |
||||
Group bond issues as of 31/12/2025
|
ISIN code |
Placement |
Coupon |
Nominal |
Currency | Maturity |
Final terms |
|---|---|---|---|---|---|---|
|
ISSUER VINCI |
||||||
| FR001400MK22 |
Private |
E3M1 +0.35 % |
450 |
EUR |
2026 |
Final Terms |
| Final Terms tranche 2 | ||||||
| FR001400Q0V1 |
Private |
E3M1 +0.25 % |
650 |
EUR |
2026 |
Final Terms |
| Final Terms tranche 2 | ||||||
| FR001400ZZ61 |
Private |
E3M1 +0.33 % |
300 |
EUR |
2026 |
Final terms |
| FR001400WL94 |
Private |
E3M1 +0.35 % |
300 |
EUR |
2027 |
Final Terms |
| FR0013409166 |
Public |
2.25% |
400 |
GBP |
2027 |
Final Terms |
| FR0013369840 |
Private |
3.971% |
70 |
USD |
2028 |
- |
| FR001400YS79 |
Private |
2.625% |
300 |
EUR |
2028 |
Final Terms |
| FR0014000PF1 |
Public |
0.00% |
500 |
EUR |
2028 |
Final terms |
| FR0013397452 |
Public |
1.625% |
1 500 |
EUR |
2029 |
Final Terms |
| Final Terms tranche 2 | ||||||
| Final Terms tranche 3 | ||||||
| Final Terms tranche 4 | ||||||
| Final Terms tranche 5 | ||||||
| US927320AA96 |
Private |
3.75% |
1 000 |
USD |
2029 |
- |
| FR0014014BK2 |
Private |
2.75 % |
75 |
EUR |
2029 |
Final Terms |
| FR001400XE50 |
Public |
0.70% |
550 |
EUR |
2030 |
- |
| FR0013367638 |
Public |
1.75% |
1 185 |
EUR |
2030 |
Final Terms |
| Final Terms tranche 2 | ||||||
| Final Terms tranche 3 | ||||||
| FR0014004FR9 |
Public |
0.5% |
750 |
EUR |
2032 |
Final Terms |
| FR001400D8K2 |
Public |
3.375% |
825 |
EUR |
2032 |
Final Terms |
| Final Terms tranche 2 | ||||||
| Final Terms tranche 3 | ||||||
| FR0013384005 |
Private |
2.02% |
120 |
EUR |
2034 |
Final Terms |
| FR0013409174 |
Public |
2.75% |
400 |
GBP |
2034 |
Final Terms |
| FR0013407251 |
Private |
Indexation CMS20Y et CMS2Y2,3 |
75 |
EUR |
2039 |
Standalone Prospectus |
|
ISSUER ASF |
||||||
| FR0013251170 |
Public |
1.125% |
500 |
EUR |
2026 |
Final Terms |
| FR0013169885 |
Public |
1.00% |
500 |
EUR |
2026 |
Final Terms |
| FR0013231099 |
Public |
1.25% |
1 000 |
EUR |
2027 |
Final Terms |
| FR0011472034 |
Private |
3.073% |
130 |
EUR |
2028 |
Final Terms |
| FR0013346137 |
Public |
1.375% |
700 |
EUR |
2028 |
Final Terms |
| FR0011637750 |
Private |
3.343% |
181 |
EUR |
2028 |
Final Terms |
| FR0011788868 |
Private |
Years 1 to 7: 3.10% |
45 |
EUR |
2029 |
Final Terms |
|
then years 8 to 15: CMS20Y2,3 |
||||||
| FR0011791623 |
Private |
Years 1 to 3: 3.50 % |
75 |
EUR |
2029 |
Final Terms |
|
the years 4 à 15 : CMS10Y + 0.90%2,3 |
||||||
| FR0013310455 |
Public |
1.375% |
1 000 |
EUR |
2030 |
Final Terms |
| FR0013404571 |
Public |
1.375% |
1 000 |
EUR |
2031 |
Final Terms |
| FR001400CH94 |
Public |
2.75% |
925 |
EUR |
2032 |
Final Terms |
| Final Terms tranche 2 | ||||||
| FR001400F8Z8 |
Public |
3.25% |
700 |
EUR |
2033 |
Final Terms |
|
ISSUER Cofiroute |
||||||
| FR0013286788 |
Public |
1.125% |
750 |
EUR |
2027 |
Final Terms |
| FR0013201134 |
Public |
0.75% |
650 |
EUR |
2028 |
Final Terms |
| FR0013512621 |
Public |
1.00% |
950 |
EUR |
2031 |
Final Terms |
| FR001400T0B0 |
Public |
3.125% |
650 |
EUR |
2033 |
Final Terms |
1E3M = Euribor 3 months
2CMS = Constant Maturity Swap
3Capped and floored coupon (please refer to relevant Final Terms for details)
Liquidity
Liquidity at 31 December 2025: €22 billion
of which:
managed net cash: €15.5 billion
confirmed, unused bank facilities: €6.5 billion
Change in net financial debt
(Outstanding capital at 31 December 2025, in € millions)
€19,075 M
Net financial debt at 31 December 2025
Maturity of gross financial debt
(in € millions)
5.5 years
Average maturity of gross financial debt at 31 December 2025
6.4 years
Concessions
3.8 years
Holdings and other divisions
Average cost of gross financial debt
| 12/2017 | 12/2018 | 12/2019 | 12/2020 | 12/2021 | 12/2022 | 12/2023 | 12/2024 | 12/2025 |
|
2.7% |
2.3% |
2.4% |
2.3% |
2.1% |
2.5% |
4.0% |
4.94% |
4.37% |
Documentation
VINCI Autoroutes
