Debt
Debt
The Iren Group accesses the capital market in order to ensure adequate coverage of its short- and long-term financial requirements through adequate diversification of sources and with the aim of maintaining a sound and efficient capital structure.
Below is the structure of debt, in relation to the fixed-rate and floating-rate portions. Learn more about the details and maturity of the debt.
Debt structure
Debt structure
Interest rates
Interest rates
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Credit rating
Credit rating
During 2021, Iren was rated BBB - with Positive Outlook by Standard & Poor's for the first time for both long-term creditworthiness and senior unsecured debt. The Fitch agency confirmed the BBB rating with Stable Outlook.
Standard & Poor’s
Standard & Poor’s
- Last update 09/12/2021
- Long term Issuer Default Rating BBB -
- Outlook Positive
Fitch
Fitch
- Last update 22/12/2021
- Long term Issuer Default Rating BBB
- Outlook Stable
Key Debt Ratios
Key Debt Ratios
Below are the main financial ratios.
RATIOS
Net financial debt /Net invested capital
Net financial debt / Net assets
Net cash flow from operating activities / Net financial debt
Net financial debt /EBITDA
31/12/2020
52%
1.1x
28%
3.2x
31/12/2019
51%
1.0x
27%
3.0x
31/12/2018
49%
1.0x
32%
2.5x
EMTN Program
EMTN Program
The adoption of the EMTN program is part of the Iren Group's financial strategy aimed at flexibility and optimisation of the financial structure.
Bonds
Bonds
View bonds issued.
Sustainable finance
Sustainable finance
Starting in 2017, the Iren Group embarked on sustainable finance to support investment strategies focused on projects with positive sustainability impacts.
Balance Sheet
Balance Sheet
The main items in the annual and year-to-date balance sheet.