Financial profile
In this section you will find iformation on Iren financial profile, with particular reference to Debt, Rating and oustanding bonds.
Debt
DEBT STRUCTURE
- Average cost of debt 2.5%
- Average long-term debt maturity of 5.3 years
Last update 08/01/2019
INTEREST RATE STRUCTURE
Debt strucuture and interest rates refer to gross financial debt.
RATING
On the 27 November 2018 Fitch Rating Agency confirmed its BBB rating on IREN Group, with stable outlook
| Agency | M/L Term | Outlook | Report |
|---|---|---|---|
| Fitch | BBB | Stable |
Last update 02/07/2019
Bonds and EMTN
On 17 July 2019, the EMTN programme (Euro Medium Term Note) Fitch rating BBB, was renewed, increasing the amount from 2 to 2.5 billion as resolved by the Board of Directors on 17 October 2018.
On 13 September 13, 2019 Iren issued a first Supplement to the Base Prospectus dated July 17, 2019.
On 19 December Iren issued a second Supplement to the Base Prospectus dated July 17, 2019 increasing the amount from 2.5 to 4.0 billion as resolved by the Board of Directors on 28 November 2019.
The increase in the EMTN Program, up to a total maximum value of Euro 4,000,000,000, will allow the Company to benefit from the typical flexibility of this instrument in the event of future bond issues.
EMTN 2.5 billion 17 july 2019 EMTN – First Supplement 13 September 2019 EMTN - Supplement 19 December 2019 GREEN BOND
| BOND | Stand alone/Programme EMTN | cod ISIN | Issue quantity (€) | Outstanding ammount (€) | Annual coupon (%) | Maturity at issue (years) | Maturity date | Issue price (%) | Rating |
|---|---|---|---|---|---|---|---|---|---|
| Green Bond 2029 | EMTN 2.5 billion 17 July 2019 and supplement 13 September 2019 | XS2065601937 | 500,000,000 | 500,000,000 | 0.875% | 10 | 14/10/2029 | 99.345 | BBB |
| Green Bond 2025 | Supplement 10 August 2018 | XS1881533563 | 500,000,000 | 500,000,000 | 1.95% | 7 | 19/09/2025 | 99.129 | BBB |
| Green Bond 2027 | EMTN 2.0 billion 10 October 2017 | XS1704789590 | 500,000,000 | 500,000,000 | 1.5% | 10 | 24/10/2027 | 98.356 | BBB |
| Eurobond 2024 | EMTN 1.5 billion 19 October 2016 | XS1511781467 | 500,000,000 | 500,000,000 | 0.875% | 8 | 04/11/2024 | 98.974 | BBB |
| Eurobond 2022 | EMTN 1.0 billion 16 October 2015 | XS1314238459 | 500,000,000 | 359,634,000 | 2.75% | 7 | 02/11/2022 | 99.398 | BBB |
| Eurobond 2021 | stand alone | XS1086104681 | 300,000,000 | 181,836,000 | 3.00% | 7 | 14/07/2021 | 99.225 | BBB |
| Private Placement | stand alone | XS0979548954 | 260,000,000 | 167,870,000 | 4.37% | 7 | 14/10/2020 | 100.783 | Not applicable |
| Private Placement | stand alone | XS1030889411 | 100,000,000 | 0 | 3.00% | 5 | 11/02/2019 | 98.728 | Not applicable |
| TOTAL | 3,160,000,000 | 2,709,340,000 |