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Credit Rating

Rating agency
Long-term Issuer Rating
Outlook
Moody's
A2
Stable
Standard & Poor's
A
Stable
     
The following Eurobonds have received “A2” rating by Moody’s and/or “A” rating by Standard & Poor’s:
€ 1bn Notes due 2023
€ 1bn Notes due 2027
€ 600m Notes due 2023
€ 600m Notes due 2025
€ 600m Notes due 2026
€ 500m Notes due 2021
€ 500m Notes due 2026
€ 500m Notes due 2030
€ 500m Notes due 2020
€ 800m Notes due 2029      
€ 900m Notes due 2022
€ 850m Notes due 2024         
€ 1bn Notes due 2028            
€ 1.25bn Notes due 2031

Outstanding Financial Debt

as of September 30, 2020

U.S. Private Placements

Overview of our U.S. private placement notes which were issued through one of our subsidiaries that has the U.S. dollar as its functional currency.

Instrument
Issue date
Maturity
Volume
(in million)
Issue
currency
Coupon
US PP3 Tranche 2 - 2012
Nov. 15, 2012
Nov. 15, 2020
290
USD
2.82% (fix)
US PP3 Tranche 3 - 2012
Nov. 15, 2012
Nov. 15, 2022
444.5
USD
3.18% (fix)
US PP3 Tranche 4 - 2012
Nov. 15, 2012
Nov. 15, 2024
323
USD
3.33% (fix)
US PP3 Tranche 5 - 2012
Nov. 15, 2012
Nov. 15, 2027
100
USD
3.53% (fix)
Total U.S. Private Placements
 
1,158
USD
 
 
 
 
989
EUR
 

Bonds

Instrument Issue date Maturity Volume
(in million)
Issue
currency
Coupon Security code
(WKN)
ISIN No.
Eurobond 4 - 2014 Nov. 20, 2014 Feb. 20, 2023 1,000 EUR 1.125% (fix) A13SL2 DE000A13SL26
Eurobond 4 - 2014 Nov. 20, 2014 Feb. 22, 2027 1,000 EUR 1.750% (fix) A13SL3 DE000A13SL34
Eurobond 5 - 2015 Apr. 1, 2015 Apr. 1, 2025 600 EUR 1.000% (fix) A14KJF DE000A14KJF5
Eurobond 7 - 2018 Mar. 13, 2018 Mar. 13, 2021 500 EUR 3m Euribor + 15 bps (var.) A2G8VS DE000A2G8VS7 
Eurobond 7 - 2018 Mar. 13, 2018 Mar. 13, 2026 500 EUR 1.000% (fix) A2G8VT DE000A2G8VT5 
Eurobond 7 - 2018 Mar. 13, 2018 Mar. 13, 2030 500 EUR 1.375% (fix) A2G8VU   DE000A2G8VU3
US Dollar Bond - 2018 Sep. 28, 2018 Sep. 28, 2025 300 USD 3m Libor + 50.3 bps (var.) A2RSD4 DE000A2RSD40
Eurobond 8 - 2018 Dec 10, 2018 Dec 10, 2020 500 EUR 3m Euribor + 23 bps (var.) A2TSTC DE000A2TSTC2
Eurobond 8 - 2018 Dec 10, 2018 Mar 10, 2022 900 EUR 0.25% A2TSTD DE000A2TSTD0
Eurobond 8 - 2018 Dec 10, 2018 Dec 10, 2024 850 EUR 0.75% A2TSTE DE000A2TSTE8
Eurobond 8 - 2018 Dec 10, 2018 Mar 10, 2028 1.000 EUR 1.25% A2TSTF DE000A2TSTF5
Eurobond 8 - 2018 Dec 10, 2018 Mar 10, 2031 1.250 EUR 1.75% A2TSTG DE000A2TSTG3
Eurobond 10 - 2020 May 18, 2020 May 17, 2023 600 EUR 0% A289CX XS2176715311
Eurobond 10 - 2020 May 18, 2020 May 18, 2026 600 EUR 0.125% A289CY XS2176715584
Eurobond 10 - 2020 May 18, 2020 May 18, 2029 800 EUR 0.375% A289CZ  XS2176715667
Total outstanding Bonds in EUR   10,856 EUR      


For more details please see the Bond Documentation

Bank Loans

Acquisition Term Loan of €2.5bn which can be flexibly repaid over the term of 3 years, latest until Jan., 2022. As of September, 30th, €1.75bn are outstanding.

Commercial Paper Programme

The Commercial Paper Programme enables SAP SE to issue short-term notes on the money market with a volume of up to € 2.5bn. As of September, 30th, €0.93bn have been issued under the programme. 

Issuer  
SAP SE
Program amount  
€ 2.5bn
Arranger       
Citigroup
Dealer       
Barclays, BNP, Citigroup, Commerzbank, ING
Issuing and paying agent                
Citibank
Term      
1 to 364 days


For more details please see the Commercial Paper Programme documentation.

Maturity Profile

Overview of SAP's maturity profile (according to contractual maturities for our outstanding bonds and U.S. Private Placements).

 

* Please note that SAP has converted a portion of its outstanding debt with fixed interest rate into variable via the use of interest rate swaps.

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