Investor relations

Rating

Header0	Header1	Header2	Header3
Type	Date of assessment	Rating	Outlook
Fitch Ratings	07/02/2024	BBB-	Stable
Standard & Poor’s	05/03/2024	BBB-	Stable
Both agencies add a sign (+) or (-) to each generic rating category to indicate a relative position within each category. The long-term debt credit rating scale used by said agencies are as follows:
Separator
Fitch Ratings	Meaning
Investment grade
AAA	Highest credit quality
AA	Very high credit quality
A	High credit quality
BBB	Good credit quality
Speculative grade
BB	Speculative
B	Highly speculative
CCC	Substantial credit risk
CC	Very high levels of credit risk
C	Near default
RD	Restricted default
D	Default
Separator
Standard & Poor’s	Meaning
Investment grade
AAA	Extremely strong capacity to meet financial commitments
AA	Very strong capacity to meet financial commitments
A	Strong capacity to meet financial commitments, but somewhat susceptible to economic conditions and changes in circumstances
BBB	Adequate capacity to meet financial commitments, but more subject to adverse economic conditions
Speculative grade
BB	Less vulnerable in the near-term but faces major ongoing uncertainties to adverse business, financial and economic conditions
B	More vulnerable to adverse business, financial and economic conditions but currently has the capacity to meet financial commitments
CCC	Currently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments
CC	Highly vulnerable; default has not yet occurred, but is expected to be a virtual certainty
C	Currently highly vulnerable to non-payment, and ultimate recovery is expected to be lower than that of higher rated obligations
D	Payment default on a financial commitment or breach of an imputed promise; also used when a bankruptcy petition has been filed

These ratings may be revised, suspended or withdrawn by the rating agency at any time.

Header0	Header1	Header2	Header3
	Date of assessment	Rating	Outlook
Fitch Ratings	15/01/2024	BBB-	Stable
Fitch Ratings	02/02/2023	BBB-	Stable
Fitch Ratings	17/01/2023	BBB-	Stable
Fitch Ratings	19/01/2022	BBB-	Stable
Fitch Ratings	04/03/2021	BBB-	Stable
Fitch Ratings	15/04/2020	BBB-	Stable
Fitch Ratings	12/11/2019	BBB-	Stable
Fitch Ratings	09/05/2019	BBB-	Negative
Fitch Ratings	05/10/2018	BBB-	Negative
Fitch Ratings	13/10/2017	BBB-	Negative
Fitch Ratings	26/05/2017	BBB-	Negative
Fitch Ratings	03/02/2017	BBB-	Stable
Fitch Ratings	02/11/2016	BBB-	Stable
Fitch Ratings	20/05/2016	BBB-	Stable
Fitch Ratings	20/07/2015	BBB-	Stable
Standard & Poor’s	25/04/2023	BB+	Positive
Standard & Poor’s	11/11/2022	BB+	Positive
Standard & Poor’s	25/03/2022	BB+	Stable
Standard & Poor’s	17/11/2020	BB+	Stable
Standard & Poor’s	15/09/2020	BB+	Stable
Standard & Poor’s	13/01/2020	BB+	Stable
Standard & Poor’s	11/10/2019	BB+	Stable
Standard & Poor’s	12/07/2019	BB+	Stable
Standard & Poor’s	25/06/2018	BB+	Stable
Standard & Poor’s	31/05/2017	BB+	Stable
Standard & Poor’s	02/11/2016	BB+	Stable
Standard & Poor’s	29/06/2016	BB+	Stable
Standard & Poor’s	27/07/2015	BB+	Positive
Separation
Fitch Ratings	Meaning
Investment grade
AAA	Highest credit quality
AA	Very high credit quality
A	High credit quality
BBB	Good credit quality
Speculative grade
BB	Speculative
B	Highly speculative
CCC	Substantial credit risk
CC	Very high levels of credit risk
C	Near default
RD	Restricted default
D	Default
Separation
Standard & Poor’s	Meaning
Investment grade
AAA	Extremely strong capacity to meet financial commitments
AA	Very strong capacity to meet financial commitments
A	Strong capacity to meet financial commitments, but somewhat susceptible to economic conditions and changes in circumstances
BBB	Adequate capacity to meet financial commitments, but more subject to adverse economic conditions
Speculative grade
BB	Less vulnerable in the near-term but faces major ongoing uncertainties to adverse business, financial and economic conditions
B	More vulnerable to adverse business, financial and economic conditions but currently has the capacity to meet financial commitments
CCC	Currently vulnerable and dependent on favorable business, financial and economic conditions to meet financial commitments
CC	Highly vulnerable; default has not yet occurred, but is expected to be a virtual certainty
C	Currently highly vulnerable to non-payment, and ultimate recovery is expected to be lower than that of higher rated obligations
D	Payment default on a financial commitment or breach of an imputed promise; also used when a bankruptcy petition has been filed

These ratings may be revised, suspended or withdrawn by the rating agency at any time.

Debt programs

Issue date	Issuer	Amount(M)	Currency	Maturity	Coupon%	Coupon payment	ISIN Code
25/05/2024	Cellnex Finance Company S.A.U	750	EUR	24/01/2029	3,625%	Annual	XS2826616596
11/08/2023	Cellnex Telecom, S.A.	1,000	EUR	11/08/2030	2.125	Annual	XS2597741102
12/04/2022	Cellnex Finance Company S.A.U.	1,000	EUR	12/04/2026	2.25	Annual	XS2465792294
15/09/2021	Cellnex Finance Company S.A.U.	1,000	EUR	15/09/2027	1	Annual	XS2385393405
15/09/2021	Cellnex Finance Company S.A.U.	850	EUR	15/09/2032	2	Annual	XS2385393587
07/07/2021	Cellnex Finance Company S.A.U.	600	USD	07/07/2041	3.875	Semi-Annual	RULE 144A CUSIP/ISIN: 15118J AA3 / US15118JAA34 REGULATION S CUSIP/ISIN: E2943J AA7 / USE2943JAA72
08/06/2021	Cellnex Finance Company S.A.U.	1,000	EUR	08/06/2028	1.5	Annual	XS2348237871
26/03/2021	Cellnex Finance Company S.A.U.	150	CHF	26/03/2026	0.935	Annual	CH1104885954
15/02/2021	Cellnex Finance Company S.A.U.	500	EUR	15/11/2026	0.75	Annual	XS2300292617
15/02/2021	Cellnex Finance Company S.A.U.	750	EUR	15/01/2029	1.25	Annual	XS2300292963
15/02/2021	Cellnex Finance Company S.A.U.	1,250	EUR	15/02/2033	2.00	Annual	XS2300293003
20/11/2020	Cellnex Telecom, S.A.	1,500	EUR	20/11/2031	0.75	Annual	XS2257580857
23/10/2020	Cellnex Telecom, S.A.	1,000	EUR	23/10/2030	1.75	Annual	XS2247549731
26/06/2020	Cellnex Telecom, S.A.	750	EUR	26/06/2029	1.875	Annual	XS2193658619
17/07/2020	Cellnex Telecom, S.A.	100	CHF	17/07/2025	1.1175	Annual	CH0555837753
18/02/2020	Cellnex Telecom, S.A.	185	CHF	18/02/2027	0.775	Annual	CH0506071148
20/01/2020	Cellnex Telecom, S.A.	450	EUR	20/04/2027	1	Annual	XS2102934697
31/07/2019	Cellnex Telecom, S.A.	60,5	EUR	31/07/2029	1.9	Annual	XS2034980479
05/07/2019	Cellnex Telecom, S.A.	850	EUR	05/07/2028	0.5	Annual	XS2021212332
03/08/2017	Cellnex Telecom, S.A.	60	EUR	03/08/2027	FRN	Semi-Annual	XS1657934714
07/04/2017	Cellnex Telecom, S.A.	80	EUR	07/04/2026	FRN	Semi-Annual	XS1592492125
18/01/2017 & 26/06/2020	Cellnex Telecom, S.A.	335 & 165	EUR	18/04/2025	2.875	Annual	XS1551726810
16/12/2016	Cellnex Telecom, S.A.	65	EUR	20/12/2032	3.875	Annual	XS1538787497

Issue date	Currency	Document
17/06/2020	EUR	Euro-Commercial Paper Programme
14/05/2020	EUR	Euro Medium Term Note Programme
06/06/2019	EUR	Euro-Commercial Paper Programme
17/05/2019	EUR	Euro Medium Term Note Programme
17/05/2019	EUR	Euro Medium Term Note Programme
06/06/2018	EUR	Euro-Commercial Paper Programme
22/05/2018	EUR	Euro Medium Term Note Programme
31/10/2017		Universal Registration Document
18/05/2017	EUR	Euro Medium Term Note Programme
18/05/2016	EUR	Euro Medium Term Note Programme
14/05/2015	EUR	Euro Medium Term Note Programme

Date	Document
28/07/2023	Report of the Board of Directors on Convertible Bonds
06/11/2020	Auditor's Report on Convertible Bonds
03/11/2020	Report of the Board of Directors on Convertible Bonds
25/06/2019	Auditor's Report on Convertible Bonds
20/06/2019	Report of the Board of Directors on Convertible Bonds
08/01/2019	Auditor's Report on Convertible Bonds
07/01/2019	Report of the Board of Directors on Convertible Bonds
09/01/2018	Auditor's Report on Convertible Bonds
05/01/2018	Report of the Board of Directors on Convertible Bonds

Date	Document
14/05/2020	Deed of Covenant
14/05/2020	Programme Manual
14/05/2020	Fiscal Agency Agreement
14/05/2020	ICSD Agreement

Document	Date	PDF
Cellnex Sustainability-Linked Financing Framework Second-Party Opinion 2023	June 2023
Sustainability-Linked Financing Framework 2023	June 2023
Cellnex Sustainability-Linked Financing Framework Second-Party Opinion 2022	March 2022
Sustainability-Linked Financing Framework 2022	March 2022
Cellnex Sustainability-Linked Financing Framework Second-Party Opinion	January 2022
Sustainability-Linked Financing Framework	January 2022

Cellnex Finance Company

The incorporation of Cellnex Finance Company -as a wholly-owned affiliate of Cellnex Telecom-, is a reflection of the great growth that the Cellnex Group has experienced since its IPO in 2015. Also of the increasing size and complexity of its management systems and the financial and non-financial indicators that show the reality of the Group.

The Cellnex Finance Company’s mission is to carry out financing activities or financial support in favour of group companies through, among others, the issuance of bonds, subscription of bank financing instruments, as well as the management, optimization and channelling the monetary resources of the Group companies.

Issuances
Base Prospectus
Other ancillary documents
Corporate Bylaws
Annual Accounts
Other Relevant Information

Issue date	Issuer	Amount (M)	Currency	Maturity	Coupon%	Coupon payment	ISIN Code
24/05/2024	Cellnex Finance Company S.A.U.	750	EUR	24/01/2029	3,625	Annual	XS2826616596
12/04/2022	Cellnex Finance Company S.A.U.	1,000	EUR	12/04/2026	2.25	Annual	XS2465792294
15/09/2021	Cellnex Finance Company S.A.U.	1,000	EUR	15/09/2027	1	Annual	XS2385393405
15/09/2021	Cellnex Finance Company S.A.U.	850	EUR	850	2	Annual	XS2385393587
07/07/2021	Cellnex Finance Company S.A.U.	600	USD	07/07/2041	3.875	Semi-Annual	RULE 144A CUSIP/ISIN: 15118J AA3 / US15118JAA34 REGULATION S CUSIP/ISIN: E2943J AA7 / USE2943JAA72
08/06/2021	Cellnex Finance Company S.A.U.	1,000	EUR	08/06/2028	1.5	Annual	XS2348237871
26/03/2021	Cellnex Finance Company S.A.U.	150	CHF	26/03/2026	0.935	Annual	CH1104885954
15/02/2021	Cellnex Finance Company S.A.U.	500	EUR	15/11/2026	0.75	Annual	XS2300292617
15/02/2021	Cellnex Finance Company S.A.U.	750	EUR	15/01/2029	1.25	Annual	XS2300292963
15/02/2021	Cellnex Finance Company S.A.U.	1,250	EUR	15/02/2033	2.00	Annual	XS2300293003

Issue date	Currency	Document
23/10/2024		Euro Commercial Paper Programme
12/08/2024	EUR	Euro Medium Term Note Programme
27/10/2023	EUR	Euro Commercial Paper Programme
09/08/2023	EUR	Euro Medium Term Note Programme
20/07/2022	EUR	Euro Commercial Paper Programme
13/07/2022	EUR	Euro Medium Term Note Programme
14/12/2021	EUR	Euro-Commercial Paper Programme
03/08/2021	EUR	Euro Medium Term Note Programme
03/12/2020	EUR	Euro Medium Term Note Programme

Date	Document	PDF
23/10/2024	Deed of Covenant (ECP)
23/10/2024	Deed of Guarantee (ECP)
23/10/2024	Issue and Paying Agency Agreement (ECP)
12/08/2024	Deed of Covenant
12/08/2024	Deed of Guarantee
12/08/2024	Programme Manual
12/08/2024	Fiscal Agency Agreement
09/08/2023	Deed of Covenant
09/08/2023	Deed of Guarantee
09/08/2023	Programme Manual
09/08/2023	Fiscal Agency Agreement
13/07/2022	Deed of Covenant
13/07/2022	Deed of Guarantee
13/07/2022	Programme Manual
13/07/2022	Fiscal Agency Agreement
03/08/2021	ICSD Agreement

Document	PDF
Cellnex Finance Company Corporate Bylaws

Document	PDF
Annual Accounts Cellnex Finance Company 2023
Annual Accounts Cellnex Finance Company 2022
Annual Accounts Cellnex Finance Company 2021
Annual Accounts Cellnex Finance Company 2020

Date	Document	PDF
16/05/2024	The company sends information of a bond issuance
31/03/2022	Cellnex Finance, a wholly-owned subsidiary of Cellnex Telecom, has successfully completed a EUR-denominated bond issuance for an amount of EUR 1,000 million
04/11/2021	Home Member State
25/10/2021	Home Member State
06/09/2021	Cellnex has successfully completed a two-tranche EUR-denominated bond issuance for an aggregate amount of EUR 1,850 million
29/06/2021	Cellnex Finance has successfully completed a bond issuance denominated in US dollars for an amount of $600 million

Investor relations

Shareholders Investors

Rating

Debt programs

Cellnex Finance Company