Fixed Income - Cellnex

Investor relations

Header0

Header1

Header2

Header3

Type

Date of assessment

Rating

Outlook

Fitch Ratings

19/01/2022

BBB-

Stable

Standard & Poor’s

25/03/2022

BB+

Stable

Both agencies add a sign (+) or (-) to each generic rating category to indicate a relative position within each category. The long-term debt credit rating scale used by said agencies are as follows:

Separator

Fitch Ratings

Meaning

Investment grade

AAA

Highest credit quality

Very high credit quality

High credit quality

BBB

Good credit quality

Speculative grade

Speculative

Highly speculative

CCC

Substantial credit risk

Very high levels of credit risk

Near default

Restricted default

Default

Separator

Standard & Poor’s

Meaning

Investment grade

AAA

Extremely strong capacity to meet financial commitments

Very strong capacity to meet financial commitments

Strong capacity to meet financial commitments, but somewhat susceptible to economic conditions and changes in circumstances

BBB

Adequate capacity to meet financial commitments, but more subject to adverse economic conditions

Speculative grade

Less vulnerable in the near-term but faces major ongoing uncertainties to adverse business, financial and economic conditions

More vulnerable to adverse business, financial and economic conditions but currently has the capacity to meet financial commitments

CCC

Currently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments

Highly vulnerable; default has not yet occurred, but is expected to be a virtual certainty

Currently highly vulnerable to non-payment, and ultimate recovery is expected to be lower than that of higher rated obligations

Payment default on a financial commitment or breach of an imputed promise; also used when a bankruptcy petition has been filed

Header0	Header1	Header2	Header3
	Date of assessment	Rating	Outlook
Fitch Ratings	04/03/2021	BBB-	Stable
Fitch Ratings	15/04/2020	BBB-	Stable
Fitch Ratings	12/11/2019	BBB-	Stable
Fitch Ratings	09/05/2019	BBB-	Negative
Fitch Ratings	05/10/2018	BBB-	Negative
Fitch Ratings	13/10/2017	BBB-	Negative
Fitch Ratings	26/05/2017	BBB-	Negative
Fitch Ratings	03/02/2017	BBB-	Stable
Fitch Ratings	02/11/2016	BBB-	Stable
Fitch Ratings	20/05/2016	BBB-	Stable
Fitch Ratings	20/07/2015	BBB-	Stable
Standard & Poor’s	17/11/2020	BB+	Stable
Standard & Poor’s	15/09/2020	BB+	Stable
Standard & Poor’s	13/01/2020	BB+	Stable
Standard & Poor’s	11/10/2019	BB+	Stable
Standard & Poor’s	12/07/2019	BB+	Stable
Standard & Poor’s	25/06/2018	BB+	Stable
Standard & Poor’s	31/05/2017	BB+	Stable
Standard & Poor’s	02/11/2016	BB+	Stable
Standard & Poor’s	29/06/2016	BB+	Stable
Standard & Poor’s	27/07/2015	BB+	Positive
Separation
Fitch Ratings	Meaning
Investment grade
AAA	Highest credit quality
AA	Very high credit quality
A	High credit quality
BBB	Good credit quality
Speculative grade
BB	Speculative
B	Highly speculative
CCC	Substantial credit risk
CC	Very high levels of credit risk
C	Near default
RD	Restricted default
D	Default
Separation
Standard & Poor’s	Meaning
Investment grade
AAA	Extremely strong capacity to meet financial commitments
AA	Very strong capacity to meet financial commitments
A	Strong capacity to meet financial commitments, but somewhat susceptible to economic conditions and changes in circumstances
BBB	Adequate capacity to meet financial commitments, but more subject to adverse economic conditions
Speculative grade
BB	Less vulnerable in the near-term but faces major ongoing uncertainties to adverse business, financial and economic conditions
B	More vulnerable to adverse business, financial and economic conditions but currently has the capacity to meet financial commitments
CCC	Currently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments
CC	Highly vulnerable; default has not yet occurred, but is expected to be a virtual certainty
C	Currently highly vulnerable to non-payment, and ultimate recovery is expected to be lower than that of higher rated obligations
D	Payment default on a financial commitment or breach of an imputed promise; also used when a bankruptcy petition has been filed

Header0

Header1

Header2

Header3

Date of assessment

Rating

Outlook

Fitch Ratings

04/03/2021

BBB-

Stable

Fitch Ratings

15/04/2020

BBB-

Stable

Fitch Ratings

12/11/2019

BBB-

Stable

Fitch Ratings

09/05/2019

BBB-

Negative

Fitch Ratings

05/10/2018

BBB-

Negative

Fitch Ratings

13/10/2017

BBB-

Negative

Fitch Ratings

26/05/2017

BBB-

Negative

Fitch Ratings

03/02/2017

BBB-

Stable

Fitch Ratings

02/11/2016

BBB-

Stable

Fitch Ratings

20/05/2016

BBB-

Stable

Fitch Ratings

20/07/2015

BBB-

Stable

Standard & Poor’s

17/11/2020

BB+

Stable

Standard & Poor’s

15/09/2020

BB+

Stable

Standard & Poor’s

13/01/2020

BB+

Stable

Standard & Poor’s

11/10/2019

BB+

Stable

Standard & Poor’s

12/07/2019

BB+

Stable

Standard & Poor’s

25/06/2018

BB+

Stable

Standard & Poor’s

31/05/2017

BB+

Stable

Standard & Poor’s

02/11/2016

BB+

Stable

Standard & Poor’s

29/06/2016

BB+

Stable

Standard & Poor’s

27/07/2015

BB+

Positive

Separation

Fitch Ratings

Meaning

Investment grade

AAA

Highest credit quality

Very high credit quality

High credit quality

BBB

Good credit quality

Speculative grade

Speculative

Highly speculative

CCC

Substantial credit risk

Very high levels of credit risk

Near default

Restricted default

Default

Separation

Standard & Poor’s

Meaning

Investment grade

AAA

Extremely strong capacity to meet financial commitments

Very strong capacity to meet financial commitments

Strong capacity to meet financial commitments, but somewhat susceptible to economic conditions and changes in circumstances

BBB

Adequate capacity to meet financial commitments, but more subject to adverse economic conditions

Speculative grade

Less vulnerable in the near-term but faces major ongoing uncertainties to adverse business, financial and economic conditions

More vulnerable to adverse business, financial and economic conditions but currently has the capacity to meet financial commitments

CCC

Currently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments

Highly vulnerable; default has not yet occurred, but is expected to be a virtual certainty

Currently highly vulnerable to non-payment, and ultimate recovery is expected to be lower than that of higher rated obligations

Payment default on a financial commitment or breach of an imputed promise; also used when a bankruptcy petition has been filed

Issue date	Issuer	Amount(M)	Currency	Maturity	Coupon%	Coupon payment	ISIN Code
12/04/2022	Cellnex Finance Company S.A.U.	1,000	EUR	12/04/2026	2.25	Annual	XS2465792294
15/09/2021	Cellnex Finance Company S.A.U.	1,000	EUR	15/09/2027	1	Annual	XS2385393405
15/09/2021	Cellnex Finance Company S.A.U.	850	EUR	15/09/2032	2	Annual	XS2385393587
07/07/2021	Cellnex Finance Company S.A.U.	600	USD	07/07/2041	3.875	Semi-Annual	RULE 144A CUSIP/ISIN: 15118J AA3 / US15118JAA34 REGULATION S CUSIP/ISIN: E2943J AA7 / USE2943JAA72
08/06/2021	Cellnex Finance Company S.A.U.	1,000	EUR	08/06/2028	1.5	Annual	XS2348237871
26/03/2021	Cellnex Finance Company S.A.U.	150	CHF	26/03/2026	0.935	Annual	CH1104885954
15/02/2021	Cellnex Finance Company S.A.U.	500	EUR	15/11/2026	0.75	Annual	XS2300292617
15/02/2021	Cellnex Finance Company S.A.U.	750	EUR	15/01/2029	1.25	Annual	XS2300292963
15/02/2021	Cellnex Finance Company S.A.U.	1,250	EUR	15/02/2033	2.00	Annual	XS2300293003
20/11/2020	Cellnex Telecom, S.A.	1,500	EUR	20/11/2031	0.75	Annual	XS2257580857
23/10/2020	Cellnex Telecom, S.A.	1,000	EUR	23/10/2030	1.75	Annual	XS2247549731
26/06/2020	Cellnex Telecom, S.A.	750	EUR	26/06/2029	1.875	Annual	XS2193658619
17/07/2020	Cellnex Telecom, S.A.	100	CHF	17/07/2025	1.1175	Annual	CH0555837753
18/02/2020	Cellnex Telecom, S.A.	185	CHF	18/02/2027	0.775	Annual	CH0506071148
20/01/2020	Cellnex Telecom, S.A.	450	EUR	20/04/2027	1	Annual	XS2102934697
31/07/2019	Cellnex Telecom, S.A.	60,5	EUR	31/07/2029	1.9	Annual	XS2034980479
05/07/2019	Cellnex Telecom, S.A.	850	EUR	05/07/2028	0.5	Annual	XS2021212332
16/01/2018 (tapped on 21/01/2019)	Cellnex Telecom, S.A.	800	EUR	16/01/2026	1.5	Annual	XS1750026186
03/08/2017	Cellnex Telecom, S.A.	60	EUR	03/08/2027	FRN	Semi-Annual	XS1657934714
07/04/2017	Cellnex Telecom, S.A.	80	EUR	07/04/2026	FRN	Semi-Annual	XS1592492125
18/01/2017 & 26/06/2020	Cellnex Telecom, S.A.	335 & 165	EUR	18/04/2025	2.875	Annual	XS1551726810
16/12/2016	Cellnex Telecom, S.A.	65	EUR	20/12/2032	3.875	Annual	XS1538787497
10/08/2016	Cellnex Telecom, S.A.	750	EUR	16/01/2024	2.375	Annual	XS1468525057
27/07/2015	Cellnex Telecom, S.A.	600	EUR	27/07/2022	3.125	Annual	XS1265778933

Issue date

Issuer

Amount(M)

Currency

Maturity

Coupon%

Coupon payment

ISIN Code

Final Terms

12/04/2022

Cellnex Finance Company S.A.U.

1,000

EUR

12/04/2026

2.25

Annual

XS2465792294

15/09/2021

Cellnex Finance Company S.A.U.

1,000

EUR

15/09/2027

Annual

XS2385393405

15/09/2021

Cellnex Finance Company S.A.U.

850

EUR

15/09/2032

Annual

XS2385393587

07/07/2021

Cellnex Finance Company S.A.U.

600

USD

07/07/2041

3.875

Semi-Annual

RULE 144A CUSIP/ISIN: 15118J AA3 / US15118JAA34 REGULATION S CUSIP/ISIN: E2943J AA7 / USE2943JAA72

08/06/2021

Cellnex Finance Company S.A.U.

1,000

EUR

08/06/2028

1.5

Annual

XS2348237871

26/03/2021

Cellnex Finance Company S.A.U.

150

CHF

26/03/2026

0.935

Annual

CH1104885954

15/02/2021

Cellnex Finance Company S.A.U.

500

EUR

15/11/2026

0.75

Annual

XS2300292617

15/02/2021

Cellnex Finance Company S.A.U.

750

EUR

15/01/2029

1.25

Annual

XS2300292963

15/02/2021

Cellnex Finance Company S.A.U.

1,250

EUR

15/02/2033

2.00

Annual

XS2300293003

20/11/2020

Cellnex Telecom, S.A.

1,500

EUR

20/11/2031

0.75

Annual

XS2257580857

23/10/2020

Cellnex Telecom, S.A.

1,000

EUR

23/10/2030

1.75

Annual

XS2247549731

26/06/2020

Cellnex Telecom, S.A.

750

EUR

26/06/2029

1.875

Annual

XS2193658619

17/07/2020

Cellnex Telecom, S.A.

100

CHF

17/07/2025

1.1175

Annual

CH0555837753

18/02/2020

Cellnex Telecom, S.A.

185

CHF

18/02/2027

0.775

Annual

CH0506071148

20/01/2020

Cellnex Telecom, S.A.

450

EUR

20/04/2027

Annual

XS2102934697

31/07/2019

Cellnex Telecom, S.A.

60,5

EUR

31/07/2029

1.9

Annual

XS2034980479

05/07/2019

Cellnex Telecom, S.A.

850

EUR

05/07/2028

0.5

Annual

XS2021212332

16/01/2018 (tapped on 21/01/2019)

Cellnex Telecom, S.A.

800

EUR

16/01/2026

1.5

Annual

XS1750026186

03/08/2017

Cellnex Telecom, S.A.

EUR

03/08/2027

FRN

Semi-Annual

XS1657934714

07/04/2017

Cellnex Telecom, S.A.

EUR

07/04/2026

FRN

Semi-Annual

XS1592492125

18/01/2017 & 26/06/2020

Cellnex Telecom, S.A.

335 & 165

EUR

18/04/2025

2.875

Annual

XS1551726810

16/12/2016

Cellnex Telecom, S.A.

EUR

20/12/2032

3.875

Annual

XS1538787497

10/08/2016

Cellnex Telecom, S.A.

750

EUR

16/01/2024

2.375

Annual

XS1468525057

27/07/2015

Cellnex Telecom, S.A.

600

EUR

27/07/2022

3.125

Annual

XS1265778933

Issue date	Currency	Document
17/06/2020	EUR	Euro-Commercial Paper Programme
14/05/2020	EUR	Euro Medium Term Note Programme
06/06/2019	EUR	Euro-Commercial Paper Programme
17/05/2019	EUR	Euro Medium Term Note Programme
17/05/2019	EUR	Euro Medium Term Note Programme
06/06/2018	EUR	Euro-Commercial Paper Programme
22/05/2018	EUR	Euro Medium Term Note Programme
31/10/2017		Universal Registration Document
18/05/2017	EUR	Euro Medium Term Note Programme
18/05/2016	EUR	Euro Medium Term Note Programme
14/05/2015	EUR	Euro Medium Term Note Programme

Issue date

Currency

Document

Base Prospectus

Supplement

17/06/2020

EUR

Euro-Commercial Paper Programme

14/05/2020

EUR

Euro Medium Term Note Programme

06/06/2019

EUR

Euro-Commercial Paper Programme

17/05/2019

EUR

Euro Medium Term Note Programme

17/05/2019

EUR

Euro Medium Term Note Programme

06/06/2018

EUR

Euro-Commercial Paper Programme

22/05/2018

EUR

Euro Medium Term Note Programme

31/10/2017

Universal Registration Document

18/05/2017

EUR

Euro Medium Term Note Programme

18/05/2016

EUR

Euro Medium Term Note Programme

14/05/2015

EUR

Euro Medium Term Note Programme

Date	Document
06/11/2020	Auditor's Report on Convertible Bonds
03/11/2020	Report of the Board of Directors on Convertible Bonds
25/06/2019	Auditor's Report on Convertible Bonds
20/06/2019	Report of the Board of Directors on Convertible Bonds
08/01/2019	Auditor's Report on Convertible Bonds
07/01/2019	Report of the Board of Directors on Convertible Bonds
09/01/2018	Auditor's Report on Convertible Bonds
05/01/2018	Report of the Board of Directors on Convertible Bonds

Date

Document

06/11/2020

Auditor's Report on Convertible Bonds

03/11/2020

Report of the Board of Directors on Convertible Bonds

25/06/2019

Auditor's Report on Convertible Bonds

20/06/2019

Report of the Board of Directors on Convertible Bonds

08/01/2019

Auditor's Report on Convertible Bonds

07/01/2019

Report of the Board of Directors on Convertible Bonds

09/01/2018

Auditor's Report on Convertible Bonds

05/01/2018

Report of the Board of Directors on Convertible Bonds

Date	Document
14/05/2020	Deed of Covenant
14/05/2020	Programme Manual
14/05/2020	Fiscal Agency Agreement
14/05/2020	ICSD Agreement

Date

Document

14/05/2020

Deed of Covenant

14/05/2020

Programme Manual

14/05/2020

Fiscal Agency Agreement

14/05/2020

ICSD Agreement

Document	Date	PDF
Cellnex Sustainability-Linked Financing Framework Second-Party Opinion	March 2022
Sustainability-Linked Financing Framework	March 2022
Cellnex Sustainability-Linked Financing Framework Second-Party Opinion	January 2022
Sustainability-Linked Financing Framework	January 2022

Document

Date

PDF

Cellnex Sustainability-Linked Financing Framework Second-Party Opinion

March 2022

Sustainability-Linked Financing Framework

March 2022

Cellnex Sustainability-Linked Financing Framework Second-Party Opinion

January 2022

Sustainability-Linked Financing Framework

January 2022

Issue date	Issuer	Amount (M)	Currency	Maturity	Coupon%	Coupon payment	ISIN Code
12/04/2022	Cellnex Finance Company S.A.U.	1,000	EUR	12/04/2026	2.25	Annual	XS2465792294
15/09/2021	Cellnex Finance Company S.A.U.	1,000	EUR	15/09/2027	1	Annual	XS2385393405
15/09/2021	Cellnex Finance Company S.A.U.	850	EUR	850	2	Annual	XS2385393587
07/07/2021	Cellnex Finance Company S.A.U.	600	USD	07/07/2041	3.875	Semi-Annual	RULE 144A CUSIP/ISIN: 15118J AA3 / US15118JAA34 REGULATION S CUSIP/ISIN: E2943J AA7 / USE2943JAA72
08/06/2021	Cellnex Finance Company S.A.U.	1,000	EUR	08/06/2028	1.5	Annual	XS2348237871
26/03/2021	Cellnex Finance Company S.A.U.	150	CHF	26/03/2026	0.935	Annual	CH1104885954
15/02/2021	Cellnex Finance Company S.A.U.	500	EUR	15/11/2026	0.75	Annual	XS2300292617
15/02/2021	Cellnex Finance Company S.A.U.	750	EUR	15/01/2029	1.25	Annual	XS2300292963
15/02/2021	Cellnex Finance Company S.A.U.	1,250	EUR	15/02/2033	2.00	Annual	XS2300293003

Issue date

Issuer

Amount (M)

Currency

Maturity

Coupon%

Coupon payment

ISIN Code

Final Terms

12/04/2022

Cellnex Finance Company S.A.U.

1,000

EUR

12/04/2026

2.25

Annual

XS2465792294

15/09/2021

Cellnex Finance Company S.A.U.

1,000

EUR

15/09/2027

Annual

XS2385393405

15/09/2021

Cellnex Finance Company S.A.U.

850

EUR

850

Annual

XS2385393587

07/07/2021

Cellnex Finance Company S.A.U.

600

USD

07/07/2041

3.875

Semi-Annual

RULE 144A CUSIP/ISIN: 15118J AA3 / US15118JAA34 REGULATION S CUSIP/ISIN: E2943J AA7 / USE2943JAA72

08/06/2021

Cellnex Finance Company S.A.U.

1,000

EUR

08/06/2028

1.5

Annual

XS2348237871

26/03/2021

Cellnex Finance Company S.A.U.

150

CHF

26/03/2026

0.935

Annual

CH1104885954

15/02/2021

Cellnex Finance Company S.A.U.

500

EUR

15/11/2026

0.75

Annual

XS2300292617

15/02/2021

Cellnex Finance Company S.A.U.

750

EUR

15/01/2029

1.25

Annual

XS2300292963

15/02/2021

Cellnex Finance Company S.A.U.

1,250

EUR

15/02/2033

2.00

Annual

XS2300293003

Issue date	Currency	Document
14/12/2021	EUR	Euro-Commercial Paper Programme
03/08/2021	EUR	Euro Medium Term Note Programme
03/12/2020	EUR	Euro Medium Term Note Programme

Issue date

Currency

Document

Base Prospectus

Supplement

14/12/2021

EUR

Euro-Commercial Paper Programme

03/08/2021

EUR

Euro Medium Term Note Programme

03/12/2020

EUR

Euro Medium Term Note Programme

Date	Document	PDF
03/08/2021	Deed of Guarantee
03/08/2021	Deed of Covenant
03/08/2021	Programme Manual
03/08/2021	Fiscal Agency Agreement
03/08/2021	ICSD Agreement

Date

Document

PDF

03/08/2021

Deed of Guarantee

03/08/2021

Deed of Covenant

03/08/2021

Programme Manual

03/08/2021

Fiscal Agency Agreement

03/08/2021

ICSD Agreement

Document	PDF
Cellnex Finance Company Corporate Bylaws

Document

PDF

Cellnex Finance Company Corporate Bylaws

Document	PDF
Annual Accounts Cellnex Finance Company 2021
Annual Accounts Cellnex Finance Company 2020

Document

PDF

Annual Accounts Cellnex Finance Company 2021

Annual Accounts Cellnex Finance Company 2020

Date	Document	PDF
31/03/2022	Cellnex Finance, a wholly-owned subsidiary of Cellnex Telecom, has successfully completed a EUR-denominated bond issuance for an amount of EUR 1,000 million
04/11/2021	Home Member State
25/10/2021	Home Member State
06/09/2021	Cellnex has successfully completed a two-tranche EUR-denominated bond issuance for an aggregate amount of EUR 1,850 million
29/06/2021	Cellnex Finance has successfully completed a bond issuance denominated in US dollars for an amount of $600 million

Date

Document

PDF

31/03/2022

Cellnex Finance, a wholly-owned subsidiary of Cellnex Telecom, has successfully completed a EUR-denominated bond issuance for an amount of EUR 1,000 million

04/11/2021

Home Member State

25/10/2021

Home Member State

06/09/2021

Cellnex has successfully completed a two-tranche EUR-denominated bond issuance for an aggregate amount of EUR 1,850 million

29/06/2021

Cellnex Finance has successfully completed a bond issuance denominated in US dollars for an amount of $600 million

Investor relations

Shareholders Investors

Rating

Debt programs