Debt investors
Our Group funding strategy is to ensure a mix of funding sources offering flexibility and cost effectiveness to match the requirements of the Group.
The objective is to ensure that the Group has appropriate funds to manage its financial obligations and to achieve its business objectives. In addition it is to ensure that the Group has a reasonable level of funding diversity in terms of investors and maturity.
The Group maintains a disciplined approach to its financing and is committed to an investment grade credit rating. Both Moody’s and Fitch have reaffirmed their investment grade ratings during the year at (Baa2/negative) and (BBB/stable) respectively.
Euro medium-term note programme (EMTN)
Euro medium-term note programme (EMTN)
Mobico Group plc has established a Euro medium-term note (EMTN) programme to provide a flexible means of issuing bonds in various currencies and maturities. Prior programmes were established under the National Express Group name.
View the latest EMTN documents:.
Prospectus dated 12 September 2023
Agency Agreement dated 2 October 2015
Supplemental Agency Agreement dated 12 September 2023
Previous prospectuses
Prospectus dated 13 October 2020
Prospectus dated 11 October 2019
Supplementary Prospectus dated 06 November 2019
Supplementary Prospectus dated 08 November 2019
Prospectus dated 03 October 2018
Prospectus dated 03 October 2017
Supplementary Prospectus dated 06 November 2017
Bonds and guarantor statements
In September 2023, Mobico Group Plc issued a debut €500m Euro bond, final terms of which are included below:
Final terms dated 22 September 2023
In November 2020, National Express Group Plc issued a debut £500m Sterling hybrid bond, final terms of which are included below:
Final terms dated 24 November 2020
Trust Deed dated 26 November 2020
In November 2019, National Express Group Plc issued a £250m Sterling bond, final terms of which are included below: