Financing strategy

Swisscom primarily relies on the free cash flow generated from its business operations. To cover additional financing requirements, the company has access to the capital market for bond issuance, as well as credit lines and liquidity reserves. Swisscom’s financing policy is to raise and invest funds centrally to meet the Group’s projected funding needs. Group Treasury takes into account the maturity profile of the debt portfolio, market conditions and projected cash flows to manage refinancing risk.