Maturity Profile

Debt Maturity Profile (€m)

Debt Structure

Maturity KPIs

KPI / criteria Mar. 31, 2020 Dec. 31, 2020
Corporate rating (Scope) A- A-
Corporate rating (S&P) BBB+
(BRP3: "excellent")
BBB+
(BRP3: "excellent")
LTV3 (net debt / fair value)
LTV (net debt incl. equity hybrid / fair value)
39.1%
40.8%
39.4%
41.1%
Net debt/EBITDA multiple2 12.0x 12.3x
Fixed/hedged debt ratio3 99% 99%
Average cost of debt3 1.4% 1.4%
Weighted average maturity (years)1 8.0 7.9
Most recent bond issuance
Jan 2021: €500m, 20 years
Mar 2021: €600m, 10 years (Green Bond)

1.000% coupon
0.625% coupon
1 BRP = business risk profile
2 Adj. net debt quarterly average over Adj. EBITDA Total (LTM), adj. for IFRS 16 effect.
3 Excl. equity hybrid