Debt structure and maturities

Debt structure and maturities

Debt structure

 

 

As of March 31, 2016, Ahlstrom's interest-bearing liabilities amounted to EUR 244.9 million (EUR 243.3 million at the end of 2015).     

Main debt securities and facilites

EUR millions

Total amount

Outstanding*

Interest rate

Maturity

Bond issued in 2014

EUR 100

EUR 100

4.125%

2019

Hybrid bond** issued in 2013

EUR 100

EUR 100

7.875%

Perpetual***

Revolving credit facility

EUR 180

EUR 0

-

2018

Commercial paper program

EUR 300

EUR 57

-

-

* December 31, 2015
** Subordinate to debt, treated as equity
*** Callable in 2017 

Maturity profile

Stable liquidity - no major maturities in 2016.

 

Liquidity and covenants

The company's liquidity continues to be good. As of March 31, 2016, its total liquidity, including cash, unused committed credit facilities and committed cash pool overdraft limits, was EUR 295.0 million (EUR 310.1 million). In addition, the company had undrawn uncommitted credit facilities and cash pool overdraft limits of EUR 119.3 million (EUR 150.2 million) available.

Gearing is the only financial covenant governing Ahlstrom’s loan agreements.

 

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