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Debt Structure as of March 31, 2022

05/05/2022 - 01:30 PM

IQ 2022 Results

Reported adjusted gross financial debt: € 29,213 mln

Liquidity Margin - € bln
Out of € 6.57 bln Financial Assets5.23+
Revolving Credit Facility of € 4 bln expiring in January 20234.00=
Liquidity Margin

9.23

 

  • Average debt maturity: 7.27 years (only bond maturity: 6.96 years)
  • Fixed rate portion on gross debt approximately 80%
  • About 31% of the outstanding bonds (face value) is denominated in USD and GBP and it's fully hedged
  • Cost of debt: ~ 3.8%

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 1,177 €/mln (of which 210 €/mln on bonds)
  • the impact on Financial Assets is equal to 970 €/mln. 

Therefore, the Net Financial Indebtedness is adjusted by 207 €/mln.