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Debt Structure as of June 30, 2023

08/03/2023 - 01:30 PM

IIQ 2023 Results

Reported adjusted gross financial debt: € 31,331 mln

Liquidity Margin - € bln
Out of € 5.17 bln Financial Assets3.86+
Revolving Credit Facility of € 4 bln expiring in January 20234.00=
Liquidity Margin



  • Average debt maturity: 6.90 years (only bond maturity: 6.15 years)
  • Fixed rate portion on gross debt approximately 73%
  • About 29% of the outstanding bonds (face value) is denominated in USD and GBP and it's fully hedged
  • Cost of debt: ~ 4,9%

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 555 €/mln (of which 158 €/mln on bonds)
  • the impact on Financial Assets is equal to 508 €/mln. 

Therefore, the Net Financial Indebtedness is adjusted by 47 €/mln.