Flanders’ direct debt amounted to 21.850 billion euros at the end of 2022. That means an increase of 4.034 billion euros, or 22.64% in relative terms, compared to the end of 2021.
Evolution of outstanding direct debt at year-end (2020-2022; in millions of euros)
| 2020 | 2021 | 2022 | |
| Total direct debt | 13,935 | 17,816 | 21,850 |
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Flanders’ consolidated debt amounted to 36.465 billion euros at the end of 2022. That means an increase of 3.021 billion euros, or 9.03% in relative terms, compared to the end of 2021.
Evolution of consolidated gross debt (2020-2022; in millions of euros)
| 2020 | 2021 | 2022 | |
| Total consolidated gross debt | 30,275 | 33,445 | 36,465 |
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Flanders’ guaranteed debt decreased in 2022. At the end of the year, total guaranteed debt amounted to 11.547 billion euros, including 9.621 billion euros of consolidated guaranteed debt.
Evolution of guaranteed debt (2020-2022; in millions of euros)
| 2020 | 2021 | 2022 | |
| Total guaranteed debt | 12,296 | 12,319 | 11,547 |
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Flanders’ direct debt is mainly financed through its EMTN programme. In addition, its BCP programme and EU SURE loans are important debt categories.
Outstanding amount (as of 14/09/2023; in millions of euros)
| EMTN | BCP | EU SURE | EIB | Schuldschein |
| 19,507 | 1,500 | 1,195 | 250 | 38 |
Current maturities (as of 14/09/2023)
| Type | Benchmark? | Nominal amount (€) | Coupon (%) | Maturity date | Documents |
| BCP | 1,500,000,000 | 4.222 | 19/01/2024 | ||
| EMTN | 626,500,000 | 1.341 | 12/06/2025 | ||
| EMTN | 30,000,000 | 3M Euribor -0.1% (FRN) | 19/06/2026 | ||
| EMTN | Benchmark | 750,000,000 | 0.375 | 13/10/2026 | Pricing supplement |
| EMTN | Benchmark | 1,200,000,000 | 0.010 | 23/06/2027 | Pricing supplement |
| EMTN | 120,000,000 | 3M Euribor (FRN) | 29/11/2027 | ||
| EU SURE | 656,651,000 | 0.000 | 4/07/2029 | ||
| EMTN (sustainability) | Benchmark | 1,320,000,000 | 0.375 | 15/04/2030 | Pricing supplement |
| EMTN | 56,500,000 | 1.707 | 20/11/2030 | ||
| EMTN | Benchmark | 1,500,000,000 | 0.300 | 20/10/2031 | Pricing supplement |
| EMTN | 140,000,000 | 1.007 | 10/11/2031 | ||
| Schuldschein | 17,500,000 | 1.007 | 10/11/2031 | ||
| EMTN | Benchmark | 1,250,000,000 | 3.625 | 22/06/2032 | Pricing supplement |
| EMTN | Benchmark | 1,250,000,000 | 3.000 | 12/10/2032 | Pricing supplement |
| EMTN | Benchmark | 1,530,500,000 | 3.250 | 5/04/2033 | Pricing supplement |
| EMTN (sustainability) | Benchmark | 500,000,000 | 1.375 | 21/11/2033 | Pricing supplement |
| EMTN | 180,000,000 | 1.887 | 12/06/2035 | ||
| EMTN | Benchmark | 1,065,000,000 | 0.125 | 15/10/2035 | Pricing supplement |
| EMTN | Benchmark | 800,000,000 | 1.000 | 13/10/2036 | Pricing supplement |
| EMTN | 60,000,000 | 3.250 | 30/11/2037 | ||
| EMTN | 20,000,000 | 1.656 | 23/02/2038 | ||
| EMTN | 30,000,000 | 1.603 | 1/03/2038 | ||
| EMTN | 125,000,000 | 3.637 | 21/06/2038 | ||
| EMTN | Benchmark | 750,000,000 | 1.500 | 12/07/2038 | Pricing supplement |
| EMTN | 10,000,000 | 1.392 | 12/11/2041 | ||
| EMTN | Benchmark | 1,000,000,000 | 1.875 | 2/06/2042 | Pricing supplement |
| EMTN (sustainability) | Benchmark | 1,500,000,000 | 4.000 | 26/09/2042 | Pricing supplement |
| EMTN (sustainability) | Benchmark | 1,250,000,000 | 3.250 | 12/01/2043 | Pricing supplement |
| EMTN | 25,000,000 | 0.400 | 20/11/2043 | ||
| EMTN (sustainability) | Benchmark | 1,000,000,000 | 1.500 | 11/04/2044 | Pricing supplement |
| EMTN | 25,000,000 | 0.875 | 5/06/2045 | ||
| EMTN | 35,000,000 | 2.317 | 3/07/2045 | ||
| EMTN (sustainability) | Benchmark | 1,250,000,000 | 0.875 | 21/03/2046 | Pricing supplement |
| Schuldschein | 20,000,000 | 1.564 | 12/11/2046 | ||
| EMTN | 115,000,000 | 1.564 | 12/11/2046 | ||
| EU SURE | 538,729,000 | 0.750 | 4/01/2047 | ||
| EMTN | 30,000,000 | 3.155 | 29/11/2047 | ||
| EMTN | 60,000,000 | 1.863 | 28/02/2048 | ||
| EMTN | 25,000,000 | 0.940 | 12/05/2050 | ||
| EMTN | 110,000,000 | 1.053 | 3/06/2050 | ||
| EMTN | Benchmark | 2,000,000,000 | 1.000 | 23/01/2051 | Pricing supplement |
| EMTN | 100,000,000 | 1.095 | 3/06/2055 | ||
| EMTN | 30,000,000 | 0.600 | 19/11/2055 | ||
| EMTN | 80,000,000 | 1.874 | 28/03/2058 | ||
| EMTN | 308,000,000 | 0.634 | 19/11/2060 | ||
| EIB loan (Lantis) | 150,000,000 | 1.398 | 7/04/2062 | ||
| EIB loan (Lantis) | 100,000,000 | 2.664 | 12/12/2062 | ||
| Total | 22,489,380,000 |
Want to know more about Flanders’ current maturities? Read every detail in the most recent Cash, Debt and Guarantee Management Report 2022.