The Terna Group’s Gross Financial Debt in details: bonds, loans and other financial instruments
As of September 30, 2011, the Terna Group’s Gross Debt amounted to 6,391 million euros and was structured as follows: 3,775 million euros in bonds, 1,409 million euros in loans granted for development projects for the National Electricity Grid from the EIB - European Investment Bank, 1,207 million euros in long and short term bank loans.
The Group has 1,313 million in cash and cash equivalents. Considering the total Group financing vs NRTS of 190 million euros, effective net financial debt from continuing operations is equal to 4,888 million euros. Moreover, as of September 30, 2011, the Parent Company has an additional debt capacity equal to 1,277 million euros, of which 500 million euros are syndicated long terms loans and 777 million euros are short term loans.
Note: figures include IAS impact
Terna’s Financial Debt has an average 10 year maturity, as indicated in the graph below that includes also the face value (FV).
The Terna Group’s Net Financial Debt stands at a fixed rate for 51% and for the remaining 49% at a floating rate.