Maturity Profile

Debt Maturity Profile (€m)



   2018   2019   2020   2021   2022   2023   2024   2025   2026   2027   2028   2029   ab 2030  
 Weighted avg. financing cost p.a.1   0.02%   2.7%   1.9%   2.8%2   1.2%   1.9%   1.2%   1.3%   1.7%   1.6%   1.5%   1.8%   2.0%  
 % of debt maturing  2.0%   10.2%   11.5%   10.2%   11.3%   10.0%   10.6%   7.0%   5.3%   3.4%   5.4%   0.3%   12.9%  

Debt Structure

Maturity KPIs

Maturity KPIs Sep 30, 2018 Target
LTV4 45.10% Mid-to low forties
Unencumbered assets in % 210.0% ≥125%
ICR5 5.4x 1.8x
Fixed/hedged debt ratio3 96% Ongoing optimization with most economic funding
Average cost of debt3 1.8%
Weighted avg. maturity3 8.0 years
Corporate Rating (S&P) BBB+
  Maturity KPIs Sep 30, 2018  Target 
 LTV4  45.10%   Mid-to low forties  
 Unencumbered assets in %  210.0%   ≥125%  
 ICR5  5.4x   1.8x  
 Fixed/hedged debt ratio3  96%   Ongoing optimization with most economic funding  
 Average cost of debt3  1.8%     
 Weighted avg. maturity3  8.0 years     
        
 Corporate Rating (S&P)  BBB+     

1 Average financing cost of debt maturing in the relevant year.
2 Weighted avg. financing costs excl. Equity Hybrid. Including Equity Hybrid, avg. interest rate of debt maturing in 2021 is 3.4%.
3 excl. Equity Hybrid.
4 excl. Buwog Squeeze Out.
5 LTM EBITDA/LTM interest expense