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Debt Structure as of March 31, 2021

05/20/2021 - 03:30 PM

IQ 2021 Results

Reported adjusted gross financial debt: € 29,442 mln

Liquidity Margin - € bln
Out of € 6.87 bln Financial Assets5.36+
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 January 20215.00=
Liquidity Margin

10.36

 

  • Average debt maturity: 7.02 years (only bond maturity: 6.83 years)
  • Fixed rate portion on gross debt approximately 72%
  • About 26% of the outstanding bonds (face value) is denominated in USD and GBP and it's fully hedged
  • Cost of debt: ~ 3.6%

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 1,718 €/mln (of which 267 €/mln on bonds)
  • the impact on Financial Assets is equal to 1,201 €/mln.

Therefore, the Net Financial Indebtedness is adjusted by 517 €/mln.

  • Download the chart of the debt structure