As at 31 December 2019, Vastned Retail Belgium has a conservative financial structure allowing it to carry out its activities also in 2020.
The most important characteristics of the financial structure as at 31 December 2019 are:
- Amount of withdrawn financial debts: € 98,4 million (excluding the market value of financial derivatives).
- 92% of credit lines are long-term financing with an average remaining duration of 4,5 years. 8% of the credit lines are short-term financing of which 100% are credit facilities without a fixed duration (€ 10 million).
Proportion of long-term and short-term credit facilities
- Expiry dates of credit facilities between 2022 and 2024.
- Spread of credit facilities over 4 European financial institutions.
- € 26,6 million of available non-withdrawn credit lines to cover the fluctuations of cash needs and for financing future investments.
- 81% of the credit lines have a fixed interest rate or are fixed by means of interest rate swaps and 19% have a variable interest rate.
- Fixed interest rates are set for a remaining period of 4.4 years on average.
- Average interest rate for 2019: 1,7% including bank margins.
- Value of financial derivatives: € 2,4 million negative.
- Limited debt ratio of 27,9% (27,5% as at 31 December 2018) (legal maximum: 65%)
- There were no changes made to the existing agreements contracted, and the RREC fulfilled these agreements as at 31 December 2019.
Due dates calendar of credit lines