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  • Aedifica
    • About us
    • Our portfolio
    • Corporate governance
    • Our team
    • Your career
  • Investors
    • Shareholder information
    • Press releases
    • Reports & presentations
    • Financial information
    • Debt information
    • Capital increases
    • The share
  • Sustainability
    • Our commitments
    • Sustainable housing
    • Ratings
  • News
  • Contact
  • Key figures
  • Liquidity and debt maturity profile
  • Debt structure
  • Interest rate hedging*
  • Credit rating
  • Sustainable Finance Framework
HomepageInvestorsDebt information

Debt information

Key figures

Key figures30/09/202231/12/2021
Debt-to-assets ratio*42.5%42.6%
Total credit lines/drawn (in € million)3,329/2,3883,064/2,087
Average effective interest rate (incl. commitment fees)1.5%1.6%
Weighted average maturity**5.1 years5.7 years

* Calculated in accordance with the RREC legislation [Financial & other debts / total assets]
** Without regard to short-term treasury notes.

Liquidity and debt maturity profile

Financial debt
(in € million)1
LinesUtilisation
Of which treasury notes
31/12/2022188188187
31/12/2023382177–
31/12/2024432223–
31/12/2025540175–
31/12/2026351239–
31/12/202751846850
> 31/12/202791891837
Total as of 30 Sept. 20223,3292,388286
Weighted Average Maturity
(in years)2
4.25.1

1. Amounts in £ were converted into € based on the exchange rate of 30 September 2022 (1.13859 £/€).
2. Without regard to short-term treasury notes.

    Aedifica’s financial policy aims to keep the Group’s debt-to-assets ratio below 50%.

    Debt structure

    • Sustainable bond: Aedifica has successfully issued its first benchmark Sustainability Bond for a total size of €500 million. The notes were issued under the Sustainable Finance Framework with a tenor of 10 years paying a fixed coupon of 0.75% per annum. The bond is listed on the Luxemburg Stock Exchange (Euro MTF Market) since 09/09/2021.
    • Treasury notes: Aedifica has a treasury notes programme on a short-term basis (with a duration of less than one year) and on a medium-term basis (with a duration of more than one year).
      • Short-Term Treasury Notes (or Commercial Paper Programme) are fully covered by revolving loans and undrawn credit facilities that serve as a guarantee for refinancing if the full placement or extension of the commercial paper couldn’t be prolonged.
      • Medium-term treasury notes: Aedifica completed 5 private placements (see table below) amounting to €87 million:
        ISIN codeNominal amount (in € million)Maturity (years)Issue dateMaturity dateCoupon (%)
        BE6310388531151021/12/201821/12/20282.176%
        BE632283786340*725/06/202025/06/20271.466%
        BE6323122802121015/07/202015/07/20301.850%
        BE632586914510716/12/202016/12/20271.274%
        BE632620155310714/02/202114/01/20281.329%

        *Sustainable medium-term treasury note issued under Aedifica’s Sustainable Finance Framework.

    Interest rate hedging*

      In order to limit the interest rate risk stemming from the financing of its investments, Aedifica has put in place long-term hedges which allow for the conversion of variable-rate debt to fixed-rate debt, or to capped-rate debt. Also, forward contracts are in place to hedge the exchange rate risk of the portfolio in the United Kingdom. The USPP and the benchmark bond issue balance Aedifica’s mix of fixed and floating rate debt.

      * Assuming that debt as at 30 September 2022 remains unchanged.

      Credit rating

      In August 2021, Aedifica received its first issuer credit rating by S&P Global. The Group was assigned a BBB investment-grade rating with a stable outlook. This rating was reaffirmed by S&P Global in August 2022.

      According to S&P, this rating reflects the strength of Aedifica’s balance sheet and business model. The stable outlook reflects the predictable rental income supported by resilient health care assets and overall long leases which should continue to generate stable cash flows over the next few years.

      Download S&P’s credit rating research

      Sustainable Finance Framework

      Aedifica developed its Sustainable Finance Framework in order to attract specific funding to (re)finance assets and/or investments and support its sustainability strategy and commitments.

      August 2021

      Sustainable Finance Framework

      Second Party Opinion

       

      August 2020

      Sustainable Finance Framework

      Second Party Opinion

      ® Aedifica (RREC) Phone: +32 2 626 07 70 E-mail: info@aedifica.eu
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      Do you want to pay us a visit at the office? The coffee is ready, you are more than welcome.

      We have made sure that you can easily get to our head office in Brussels by public transport: you can reach us by train, metro, bus and bicycle.

      If you come by train, you can get off at the station of Brussels-Luxemburg or Brussels-Central. From there you can easily continue on foot to rue Belliard 40. If you come by international train, you get off at Brussels-South station and take metro line 2 or 6 to Trône/Troon or Arts-Loi/Kunst-Wet.

      If you come by metro, you can take line 1 or 5 to Arts-Loi/Kunst-Wet or Maelbeek/Maalbeek, or you can take line 2 or 6 to Trône/Troon or Arts-Loi/Kunst-Wet.

      If you come by bus, you can take line 21, 27 and 64 to Trêves/Trier, or line 27, 34, 38, 64, 80 and 95 to Science/Wetenschap.

      If you take a villo! sharing bike, you can easily park your bike in the Charlemagne/Karel De Grote bike station right in front of our office.

      Of course, you can also reach us by car, but we encourage you to consider the environment and use public transport or other eco-friendly transportation options.

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