Debt Structure
The authorised statutory limit on
debt for Sicafis is 65% (debt to total assets). As at 30.09.2011,
Cofinimmo is in full compliance with this limit, the debt ratio
standing at 50.52%.
The Loan-to-Value ratio, as defined in the documentation for the
bank credit facilities (Net financial debt/Fair value of the
property portfolio and of lease finance receivables), stood at
53.87% at the same date.
Situation at 30.09.2011 (x € 1,000,000)
| Debt type |
Financial debt |
Total LT commitments |
| Capital market facilities |
| Bonds |
262.2 |
250.0 |
| Convertible bond |
157.3 |
173.3 |
| Long-term commercial papers |
15.0 |
15.0 |
| Short-term commercial papers |
192.6 |
- |
| Bank facilities |
| Roll over loans |
847.5 |
1,328.1 |
| Term loans |
182.3 |
182.3 |
| Others |
11.9 |
4.6 |
| Total |
1,668.8 |
1.953.3 |
Maturity profile of LT debt commitments (€ 1,953.30M)
Long-term financial commitments
(credit lines, bonds, commercial paper and capital leases) with
outstandings totalling € 1,668.80 million at 30.09.2011, display a
well spread maturity profile up to 2019.
The average maturity of the
Cofinimmo debt (excluding the short-term maturities of the treasury
bills, which are fully covered by the undrawn portions of long-term
credit facilities) is 3.6 years at 30.09.2011.
Situation of the interest cover (at 30.06.2011)
