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.2   0.5%   2.7%   1.8%   2.9%3   1.2%   2.1%   1.2%   1.3%   1.8%   1.6%   1.6%   1.9%   2.0%  
 % of debt maturing  3.4%   10.1%   11.2%   10.1%   11.1%   9.9%   10.5%   7.4%   5.5%   3.4%   5.2%   0.2%   11.9%  

Debt Structure1

Maturity KPIs

Maturity KPIs June 30, 2018 Target
LTV5 43.90% Mid-to low forties
Unencumbered assets in % 56.2% ≥50%
Fixed/hedged debt ratio4 96% Ongoing optimization with most economic funding
Global ICR (YTD)6 6.0x
Average cost of debt4 1.8%
Weighted avg. maturity4 8.1 years
Corporate Rating (S&P) BBB+
  Maturity KPIs June 30, 2018  Target 
 LTV5  43.90%   Mid-to low forties  
 Unencumbered assets in %  56.2%   ≥50%  
 Fixed/hedged debt ratio4  96%   Ongoing optimization with most economic funding  
 Global ICR (YTD)6  6.0x     
 Average cost of debt4  1.8%     
 Weighted avg. maturity4  8.1 years     
 Corporate Rating (S&P)  BBB+     

1 Incl. July 2018 Bond, which is not included in KPIs.
2 Average financing cost of debt maturing in the relevant year.
3 Weighted avg. financing costs excl. Equity Hybrid. Including Equity Hybrid avg. interest rate of debt maturing in 2021 is 3.4%.
4 excl. Equity Hybrid.
5 excl. 2nd offer period of Buwog. 6 excl. Buwog and Victoria Park.