Debt and Rating

As of 31 March 2020, structural financial debt of the Group towards third parties amounts to €623 million, consisting in a Private Placement issued by Poste Italiane SpA of €50 million and two loans granted by the EIB - European Investment Bank, aimed at financing some investment projects, of €173 million (maturity date March 2026) and €400 million (maturity date October 2026).

On the same date, the Strategic Business Unit Mail, Parcels and Distribution has Liquidity in bank and postal current accounts of €1,321 million, and has €500 million notional amount of Italian Government Bonds (BTP) classified as HTCS (hold to collect and sale) used for repurchase agreements of approximately €509 million. Such amounts represent the Group's free liquidity generated by the company's self-financing capability, partly attributable to Poste SpA and partly deriving from the centralization of the Group liquidity and from the related cash pooling activity by the parent company.
Furthermore, as of 31 March 2020 Poste Italiane SpA has Revolving Credit Facilities committed of €2 billion fully undrawn and short-term uncommitted credit lines of €1,021 million drawn for €20 million.

In addition, in April 2020, in order to have additional liquidity and to cope with any adverse scenarios related to the COVID-19 pandemic:

• uncommitted credit lines for short-term loans were increased by €5 million and used for an additional €640 million;
• two medium-term financing operations for a total amount of €350 million were stipulated and disbursed.