Maturity Profile
Debt Maturity Profile (€m)
Debt Structure
Maturity KPIs
| KPI / criteria | Sep. 30, 2020 | Dec. 31, 2019 |
|---|---|---|
| Corporate rating (Scope) | A- | A- |
| Corporate rating (S&P) |
BBB+ (BRP3: "excellent") |
BBB+ (BRP3: "strong") |
|
LTV1 (net debt / fair value) LTV (net debt incl. equity hybrid / fair value) |
40.6% 42.4% |
43.1% 45.0% |
| Net debt/EBITDA multiple2 | 12.1x | 11.5x |
| Fixed/hedged debt ratio1 | 99% | 96% |
| Average cost of debt1 | 1.4% | 1.5% |
| Weighted average maturity (years)1 | 7.9 | 7.9 |
|
Most recent bond issuances (July 2020) €750m, 6 years €750m, 10 years |
0.625% 1.000% |
1 Excl. equity hybrid.
2 Adj. net debt annual average over Total EBITDA.
3 BRP = business risk profile.
3 BRP = business risk profile.