KEY METRICS | 31 December 2015 |
---|---|
Gearing (look through basis) | 33.3% 1 |
Weighted Average Debt Maturity | 5.6 years |
Investment Grade Ratings | A1 (Stable) Moody's A (Stable) S&P |
BOND COVENANTS | Requirement | 31 December 2015 |
---|---|---|
Net Debt / Net Assets | Not greater than 65% | 34.6% 2 |
Secured Debt / Total Assets | Not greater than 45% | 0.7% |
Interest Coverage | At least 1.5 times | 3.5 times 3 |
Unencumbered Leverage | Not less than 125% | 285% |
1. On a pro forma basis post sale of two New Zealand assets gearing would be 32.3%
2. On a pro forma basis post sale of two New Zealand assets Net Debt/ Net Assets would be 33.7%
3. For the 12 months to 31 December 2015