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 (data updated to 9M 2022). Learn more about the details and maturity of the debt.

Debt structure

Interest rates

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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

 
  • Last update 09/12/2021
  • Long term Issuer Default Rating BBB -
  • Outlook Positive

Fitch

 
  • Last update 21/11/2022
  • Long term Issuer Default Rating BBB
  • Outlook Stable

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

31/12/2021

50%

1.0

33%

2.9

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

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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

View bonds issued.

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 

The main items in the annual and year-to-date balance sheet.