Capgemini’s financing policy is intended to provide the Group with adequate financial flexibility and is based on the following main criteria:
- a moderate use of debt leveraging;
- diversified financing sources adapted to the Group’s financial profile:
- bank financing (mainly a €1.0 billion multi-currency syndicated credit facility undrawn at December 31, 2021);
- market financing via bond issues with a large investor base (see further below);
- a good level of liquidity and sustainable financial resources.
Net debt as at December 31, 2021 is as follows:
|(in millions of euros)||31/12/2021|
|Cash and cash equivalents||3,119|
|Cash management assets||385|
|* at amortized cost, including accrued interest.|
The credit rating attributed by the rating agency Standard & Poor’s as at February 18, 2022, was BBB, with positive outlook.
Outstanding bonds issued by the Group are: