Maturity Profile

Debt Maturity Profile (€m)



Debt Structure

Maturity KPIs

 KPI / criteria  Mar. 31, 2020   Dec. 31, 2019  
 Corporate rating (Scope)  A-   A-  
 Corporate rating (S&P)  BBB+   BBB+  
 LTV2  43.0%   43.1%  
 Net debt/EBITDA multiple1  11.8x   11.5x  
 ICR  5.0x   4.9x  
 Fixed/hedged debt ratio2  96%   96%  
 Average cost of debt2  1.5%   1.5%  
 Weighted average maturity (years)2  8.1   7.9  
 Unencumbered assets  49%   50%  
 Most recent bond issuances
€500m, 10 years
€500m, 4 years 
Apr. 2020
2.250%
1.625%  
  
 KPI / criteria  Mar. 31, 2020   Dec. 31, 2019  
 Corporate rating (Scope)  A-   A-  
 Corporate rating (S&P)  BBB+   BBB+  
 LTV2  43.0%   43.1%  
 Net debt/EBITDA multiple1  11.8x   11.5x  
 ICR  5.0x   4.9x  
 Fixed/hedged debt ratio2  96%   96%  
 Average cost of debt2  1.5%   1.5%  
 Weighted average maturity (years)2  8.1   7.9  
 Unencumbered assets  49%   50%  
 Most recent bond issuances
€500m, 10 years
€500m, 4 years 
Apr. 2020
2.250%
1.625%  
  

1Adj. net debt annual average over Total EBITDA.
2Excl. equity hybrid.