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Debt Structure as of December 31, 2020

02/24/2021 - 04:00 PM

IVQ 2020 Results

Reported adjusted gross financial debt: € 30,193 mln

Liquidity Margin - € bln
Out of € 6.87 bln Financial Assets5.92+
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 20216.70=
Liquidity Margin

12.62

 

  • Average debt maturity: 9.74 years (only bond maturity: 6.77 years)
  • Fixed rate portion on gross debt approximately 71%
  • About 25% 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 1,969 €/mln (of which 303 €/mln on bonds)
  • the impact on Financial Assets is equal to 1,581 €/mln.

Therefore, the Net Financial Indebtedness is adjusted by 388 €/mln.