Debt investors
An overview of IHG’s debt facilities is provided on this page, with more information available in our Annual Report, the Results and Presentations section of this website and from debt-related Regulatory News. The documents relating to the Group’s Euro Medium Term Note Programme can be downloaded below:
- Base Prospectus dated 21 September 2023
- Base Prospectus dated 19 September 2024
- Base Prospectus dated 15 August 2025
- The agency agreement
- The trust deed
- InterContinental Hotels Group PLC - articles of association
- InterContinental Hotels Limited - articles of association
- Six Continents Limited - articles of association
- IHG Finance LLC - operating agreement
- £400m 3.375% October 2028 – Final Terms
- €600m 4.375% November 2029 – Final Terms
- €750m 3.625% September 2031 – Final Terms
- €850m 3.375% September 2030 – Final Terms
The information below was correct on 8 September 2025:
Current Bonds
|
Issuer |
Amount Issued |
Amount Outstanding |
Maturity |
Interest Rate |
Currency swaps |
| IHG PLC | GBP 350m | GBP 350m | Aug 26 | 2.125% | |
| IHG PLC | EUR 500m | EUR 500m | May 27 | 2.125% | GBP 436m at 3.5% |
| IHG PLC | GBP 400m | GBP 400m | Oct 28 | 3.375% | |
| IHG Finance LLC | EUR 600m | EUR 600m | Nov 29 | 4.375% | USD 657m at 6.0% |
| IHG Finance LLC | EUR 850m | EUR 850m | Sept 30 | 3.375% | USD 990m at 4.9% |
| IHG Finance LLC | EUR 750m | EUR 750m | Sept 31 | 3.625% | USD 834m at 4.9% |
Committed Bank Facilities
|
Amount |
Maturity |
Interest Rate |
|
USD 1,350m |
April 2028 |
SOFR (USD) / SONIA (GBP) + margin (0.5% - 1.0%) |
There are two financial covenants: interest cover and leverage ratio. Covenants are tested at half year and full year on a trailing 12-month basis. The interest cover covenant requires a ratio of Covenant EBITDA to Covenant interest payable above 3.5:1 and the leverage ratio requires Covenant net debt to Covenant EBITDA below 4.0:1.
|
Agency |
Long Term Rating |
Outlook |
|
S&P |
BBB |
Stable |
| Moody's | Baa2 | Stable |