Net financial debt of the Bayer Group increased by €2.7 billion to €32.5 billion in the first quarter of 2026 (December 31, 2025: €29.8 billion), mainly due to the negative operating cash flow. From a year-on-year perspective, net financial debt was down €1.8 billion (March 31, 2025: €34.3 billion).
In January, Bayer AG and Bayer Corporation, United States, issued commercial paper with a nominal volume of €255 million and US$530 million (€445 million), respectively.
In February, Bayer AG and Bayer US Finance LLC, United States, jointly signed an US$8 billion bank loan facility. The facility, which was syndicated to a larger group of banks in March, has a tenor of one year, plus two six-month extension options.