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Debt Structure as of September 30, 2020

11/11/2020 - 04:00 PM

IIIQ 2020 Results

Reported adjusted gross financial debt: € 30,319 mln

Liquidity Margin - € bln
Out of € 5.57 bln Financial Assets3.91+
Undrawn portion considering the Revolving Credit Facility of € 5 bln expiring in January 2023 and the Bridge to Bond Facility of 1.7 bln expiring in May 20216.70=
Liquidity Margin10.61 

  • Average debt maturity: 6.80 years (only bond maturity: 7.08 years)
  • Fixed rate portion on gross debt approximately 70%
  • About 26% of the outstanding bonds (face value) is denominated in USD and GBP and it's fully hedged
  • Cost of debt: ~ 3.7%

NOTE: The figures are net of the adjustment due to the fair value measurement of derivatives and related financial liabilities/assets, as follows:

  • the impact on Gross Financial Debt is equal to 1,970 €/mln (of which 311 €/mln on bonds)
  • the impact on Financial Assets is equal to 1,807 €/mln.

Therefore, the Net Financial Indebtedness is adjusted by 163 €/mln.

  • Download the chart of the debt structure