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Terna’s Debt Structure

 

The Terna Group’s Gross Financial Debt in details: bonds, loans and other financial instruments

Breakdown

At 30 June 2018, Terna Group’s gross debt amounted to € 8,961 million, made up of: € 7,394 million in bonds, € 2,308 million in loans for development projects for the National Electricity Grid from EIB - European Investment Bank, € 71 million in bank funding. The Group then has € 1,066 million in cash and other equivalent financial instruments.

The effective net financial debt from continuing operations was € 7,896 million. Furthermore, at 30 June 2018, the Parent Company had an additional debt capacity of € 2,804 million, of which € 2,050 million linked to committed credit lines, € 708 million for short-term credit lines and € 46 million for EIB non-pulled credit lines.

Note: figures include IAS impact

Gross Debt Breakdown

Average Maturity

Terna’s Financial Debt has an average maturity of around 5.6 years, as indicated in the graph.

Gross debt mix

The Terna Group’s Gross Financial Debt is almost entirely fixed rate.