People Transforming Retail
How retail architecture can go beyond shopping experiences: Creating strong identity and sustainable urban communities
‘Strong capital base’ stands for allocating capital efficiently and maintaining a conservative gearing level in order to finance developments and maximise returns.
What does this mean in practise?
- Securing sufficient and attractively priced financing to provide flexibility for strategic decisions
- Investment grade credit ratings
What did we do in 2018?
- Successfully refinanced maturing bonds resulting in increased average maturity and lower cost of debt
- Maintained investment grade credit ratings
Main financing targets
| Current status Q1/2019 | |
| Loan to Value 40-45% | - 48.7% |
| Average maturity of loan portfolio > 5 yrs | - 4.8 |
| Debt portfolio's hedge ratio 70-90% | ✓ 91.7% |
| Strong investment-grade credit ratings | ✓ BBB-/Baa2 |
| Financing mainly unsecured | ✓ 95% |
| Substantial liquidity buffer | ✓ MEUR 561 |
