Marks and Spencer PLC funding strategy is to ensure a mix of funding sources offering flexibility and cost effectiveness to match the requirements of the Group. Operating subsidiaries are financed by a combination of retained profits, bank borrowings, medium term notes, finance leases and committed bank facilities
Marks and Spencer has issued Medium Term Notes (MTN) as follows:
2019 £400m 6.125% Annually
2021 £300m 6.125% Annually
2023 £300m 3.000% Annually
2025 £400m 4.750% Annually
2037 US$300m (circa £240m) 7.125% Semi-annually
total debt (£400m + £300m + £300m + £400m + £240m) = £1,640m = £1.64bn