Debt Information
Credit ratings
Bonds and News Alerts
Shell aims to maintain a strong balance sheet which provides, through the commodity cycle:
- Efficient access to the debt capital markets;
- Financial resilience; and
- Sufficient flexibility for continued growth.
Liquidity
We satisfy our funding and working capital requirements from the cash generated from our operations, the issuance of debt and divestments.
Our access to the international debt capital markets is strong, with our debt principally financed from these markets through central debt programmes consisting of:
- a $10 billion global commercial paper (CP) programme, with maturities not exceeding 270 days;
- a $10 billion US CP programme, with maturities not exceeding 397 days;
- an unlimited Euro medium-term note (EMTN) programme (also referred to as the Multi-Currency Debt Securities Programme); and
- an unlimited US universal shelf (US shelf) registration.
All these CP, EMTN and US shelf issuances are issued by Shell International Finance B.V., the issuance company for Shell, with its debt being guaranteed by Shell plc.
We also maintain $8 billion of undrawn revolving committed credit facilities which expire in December 2026. Other than certain borrowing by local subsidiaries, we do not have any other committed credit facilities.
