Funding programmes

We use funding programmes for our operations on the international money and capital markets. Thanks to long-term AAA/Aaa credit ratings from S&P and Moody’s, we are able to raise funds on favourable terms from a large and diverse group of international investors. 

We use the following funding programmes to issue debt securities:

€75,000,000,000 Debt Issuance Program, dated 26 April 2024

First Supplement dated 2 September 2024 to the EUR75,000,000,000 Debt Issuance Program

A$10,000,000,000 Kangaroo/Kauri Bond Programme, dated 12 July 2021

Commercial Paper Programmes

For the issuance of debt instruments with maturities of up to one year, we use Commercial Paper programmes. We have received the highest possible short-term rating (A-1+/P-1) for our CP programmes. 

€25,000,000,000 Euro-Commercial Paper and Certificate of Deposit Programme, dated 6 September 2023 

The ECP Programme has been granted the STEP label.

Furthermore, we have established a US$25,000,000,000 Commercial Paper Program for qualified institutional buyers and institutional accredited investors. If you belong to one of those categories and would like to know more about the programme, please contact us.

Please click here for the published Final Terms per year. Please find below the Base Prospectuses 2010-2023 including the Terms and Conditions.