HOME INVESTORS YOUR SHAREHOLDING DEBT INVESTORS TREASURY MANAGEMENT The Group’s multinational operations expose it to a variety of financial risks that include the effects of changes in foreign currency exchange rates (foreign exchange risk), market prices, interest rates, credit risks and liquidity. The Group’s financing and financial risk management activities are centralised into Group Treasury to achieve benefits of scale and control. The Group’s policy is to align interest costs and operating profit of its major currencies in order to provide some protection against the translation exposure on foreign currency profits after tax. The Group may undertake borrowings and other hedging methods in the currencies of the countries where most of its assets are located. The Group’s objectives for managing capital are to safeguard the Group’s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders, and to maintain an efficient capital structure to optimise the cost of capital. The Group monitors net debt (total borrowings less cash and cash equivalents, short-term available for sale financial assets and financing derivative financial instruments) and at 31 December 2020 the Group had net debt of £8,954m (2019: £10,749m). Liquidity and capital Interest rates, foreign exchange and commodities COMMERCIAL PAPER Particulars US commercial paper Euro commercial paper Issuer Reckitt Benckiser Treasury Services PLC Reckitt Benckiser Treasury Services PLC Guarantor Reckitt Benckiser Group PLC Reckitt Benckiser Group PLC Program size USD 8.0 billion EUR 3.0 billion Dealers J.P. Morgan Securities LLC MUFG Securities Americas Inc. RBC Capital Markets Citigroup Global Markets Inc. Mizuho Securities USA Inc. Merrill Lynch, Pierce, Fenner & Smith Inc. Bank of America Merrill Lynch Societe Generale Citigroup BNP Paribas Issuing and Paying Agent Citibank, N.A. Deutsche Bank OUTSTANDING BONDS Reckitt Benckiser Treasury Services PLC ("RBTS") Issuer Issue date Currency Coupon (%) Amount (mn) Maturity RBTS Sep-13 USD 3.625 500 Sep-23 RBTS Jun-17 USD LIBOR + 56bps 750 Jun-22 RBTS Jun-17 USD 2.375 2,500 Jun-22 RBTS Jun-17 USD 2.750 2,000 Jun-24 RBTS Jun-17 USD 3.000 2,500 Jun-27 RBTS May-20 GBP 1.750 500 May-32 Reckitt Benckiser Treasury Services (Nederland) BV ("RBTS(N)") Issuer Issue Date Currency Coupon (%) Amount (mn) Maturity RBTS(N) May-20 EUR 0.375 850 May-26 RBTS(N) May-20 EUR 0.750 850 May-30 Mead Johnson Nutrition Company ("MJN") Issuer Issue date Currency Coupon (%) Amount ($mn) Maturity MJN Nov-15 USD 4.125 750 Nov-25 MJN Jun-10 USD 5.900 300 Nov-39 MJN May-14 USD 4.600 500 Jun-44 Note: All the above bonds are guaranteed by Reckitt Benckiser Group plc CREDIT RATINGS Agency Short Term Rating Long Term Rating Long Term Outlook Last Change Date Moody's P2 A3 Stable 12 March 2021 S&P A2 A- Stable 17 Dec 2020 CONTACTS Tom Greene Group Treasurer +44 (0)1753 217 800 Sandra Moura Investor Relations +44 (0) 1753 217 800 IR@rb.com Reckitt 103-105 Bath Road Slough, Berkshire, SL1 3UH United Kingdom ADDRESS Registered office at 103 - 105 Bath Road, Slough, Berkshire, SL1 3UH Registered in England & Wales, No 6270876 RECKITT.COM About us Brands Careers Investors Sustainability Newsroom COP26 INVESTORS Results and presentations Investor news Regulatory news Financial calendar Annual general meetings Annual Report 2020 Share price tools Your shareholding Corporate governance Investor contacts MORE Terms and Conditions Privacy Policy Cookie policy Modern Slavery Act Statement © Copyright Reckitt Benckiser Group PLC. All rights reserved About Cookies On This Site We and our partners use cookies on this site to improve functionality, personalise browsing experience, analyse traffic, and for marketing and personalised advertising. See our cookie policy for details. Decline Accept all Manage Preferences