Maturity Profile

Debt Maturity Profile (€m)



Debt Structure

Maturity KPIs

 KPI / criteria  Jun. 30, 2020   Dec. 31, 2019  
 Corporate rating (Scope)  A-   A-  
 Corporate rating (S&P)  BBB+
(BRP4: "excellent")  
BBB+
(BRP4: "strong")  
 LTV2 (net debt / fair value)  42.7%3   43.1%  
 Net debt/EBITDA multiple1  12.0x   11.5x  
 Fixed/hedged debt ratio2  96%   96%  
 Average cost of debt2  1.5%   1.5%  
 Weighted average maturity (years)2  7.9   7.9  
 Most recent bond issuances (July 2020)
€750m, 6 years
€750m, 10 years 
0.625%
1.000%  
  
 KPI / criteria  Jun. 30, 2020   Dec. 31, 2019  
 Corporate rating (Scope)  A-   A-  
 Corporate rating (S&P)  BBB+
(BRP4: "excellent")  
BBB+
(BRP4: "strong")  
 LTV2 (net debt / fair value)  42.7%3   43.1%  
 Net debt/EBITDA multiple1  12.0x   11.5x  
 Fixed/hedged debt ratio2  96%   96%  
 Average cost of debt2  1.5%   1.5%  
 Weighted average maturity (years)2  7.9   7.9  
 Most recent bond issuances (July 2020)
€750m, 6 years
€750m, 10 years 
0.625%
1.000%  
  

1Adj. net debt annual average over Total EBITDA.
2Excl. equity hybrid.
3Pro forma as of June 30, 2020, accounting for 2019 dividend (including the 41% scrip ratio).
4BRP = business risk profile.