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Debt Structure as of March 31, 2020

05/19/2020 - 05:00 PM

IQ 2020 Results

Reported adjusted gross financial debt: € 32,040 mln

 

 

Liquidity Margin - € bln
Out of € 5.30 bln Financial Assets4.09+
 Undrawn portion considering the new Revolving Credit Facility of € 5 bln stipulated in January 2018 expiring in January 20235.00=
Liquidity Margin9.09 

  • Average debt maturity: 8.17 years (only bond maturity: 7.41 years)
  • Fixed rate portion on gross debt approximately 71%
  • About 27% of the outstanding bonds (face value) is denominated in USD and GBP and it's fully hedged
  • Cost of debt: ~ 3.9%

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 1,938 €/mln (of which 301 €/mln on bonds)
  • the impact on Financial Assets is equal to 2,114 €/mln. 

Therefore, the Net Financial Indebtedness is adjusted by  -176 €/mln