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.