As at 30 Juin 2018, Vastned Retail Belgium has a conservative financial structure allowing it to carry out its activities also in 2018.
The most important characteristics of the financial structure as at 30 Juin 2018 are:
- Amount of withdrawn financial debts: € 107 million (excluding the market value of financial derivatives).
- 92% of credit lines are long-term financing with an average remaining duration of 4,8 years. 8% of the credit lines are short-term financing of which 100% are credit facilities with an unlimited 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.
- € 17,9 million of available non-withdrawn credit lines to cover the fluctuations of cash needs and for financing future investments.
- 64% of the credit lines have a fixed interest rate or are fixed by means of interest rate swaps and 36% have a variable interest rate.
- Fixed interest rates are set for a remaining period of 5 years on average.
- Average interest rate for the first semester of 2018: 1,72% including bank margins.
- Value of financial derivatives: € 1,9 million negative.
- Limited debt ratio of 28,81% (27% as at 31 December 2017) (legal maximum: 65%)
- There were no changes made to the existing agreements contracted, and the RREC fulfilled these agreements as at 30 Juin 2018.
Due dates calendar of credit lines