Harley-Davidson Takes a Strategic Step: Full Redemption of €700 Million Notes Due 2026
Strengthening the Balance Sheet to Support the Ride Forward
Raine Devries | 7 March 2026
As someone who lives for the open road and the unmistakable sound of a Milwaukee-Eight engine, I always keep an eye on what’s happening with the brand beyond the bikes themselves. This week brought some noteworthy financial news from Harley-Davidson Financial Services, Inc. (HDFS), a key subsidiary of Harley-Davidson, Inc. (NYSE: HOG). On March 5, 2026, they announced the full redemption of their outstanding €700,000,000 5.125% Guaranteed Notes due 2026.
You might notice the euro symbol there, even though Harley is an iconic American brand with its stock trading in USD. These notes are euro-denominated debt—meaning they were issued and are denominated in Euros, not dollars. Harley-Davidson Financial Services originally issued these €700 million notes in March 2023, with a maturity in April 2026, and they were listed for trading on Euronext Dublin (the Irish exchange). This is a common approach for companies with global reach: borrowing in the European bond market taps into a different pool of international investors, often at favorable terms, and helps align financing with overseas operations and revenue streams. Harley has a strong presence in Europe (along with the Middle East, Africa, Asia Pacific, and Latin America), where dealers and customers access financing through various partners, some linked to HDFS.
For the USD market and shareholders, this doesn’t create any major currency complications in the redemption. The company is paying back the full €700 million principal (plus accrued and unpaid interest up to but not including the redemption date) using existing cash and cash equivalents on hand—no new borrowing required. Since Harley-Davidson reports its consolidated financials in USD, any Euro holdings would have been managed accordingly, but the announcement frames this as a clean debt payoff with no highlighted FX impacts.
The details are straightforward and positive: Redemption happens on March 15, 2026. Noteholders receive 100% of the principal amount, plus any accrued and unpaid interest. Harley is also planning to request the cancellation of the notes’ listing on the Official List of Euronext Dublin and their removal from trading on the Global Exchange Market. It’s an efficient, no-fuss conclusion to this obligation.
Why does this matter to us as riders? Moves like this help Harley-Davidson maintain a strong, flexible financial position. By addressing this debt early—in what remains a dynamic economic environment—the company can lower ongoing interest expenses and redirect resources toward what keeps the brand thriving: developing new models, advancing initiatives like LiveWire, enhancing the rider experience, and supporting the global dealer network.
It’s the kind of prudent step that ensures Harley-Davidson can continue delivering the freedom, adventure, and community we all love—without unnecessary financial drag.
For the complete official announcement and full details, you can read the press release directly from Harley-Davidson’s investor relations page here.
Until next time—keep the shiny side up!