Debt capital represents an important financing source for the Iberdrola Group. Central to Iberdrola’s financial strategy is its target financial ratios.
Iberdrola seeks to, whenever possible, centralise its financing activities, however there are circumstances when the Group considers it necessary to arrange finance at the subsidiary level. This means that the majority of financing is conducted at the Iberdrola S.A. level or conducted through instruments with the guarantee of Iberdrola S.A.
Iberdrola S.A. places importance on having a diversified investor base and on reducing financing risks. Iberdrola therefore issues in different markets, currencies and with varying maturities. For more information look up Financial Management 2016-2020 [PDF].
The illustrations below show Iberdrola Group’s adjusted net debt at 31 March 2016.
The illustrations below show Iberdrola Group’s solvency ratios at 31 March 2016.
Debt as at 31 March 2016 can be broken down by product source, currency and interest rate, as follows:
The slide below shows Iberdrola Group’s liquidity position and debt maturity profile at 31 March 2016:
|CREDIT LINE MATURITIES (€ MM)||AVAILABLE|
|2017 & ONWARDS||7,198|
|TOTAL CREDITS LINES||7,618|
|CASH & SHORT TERM FINANCIAL INVESTMENTS||963|
|TOTAL ADJUSTED LIQUIDITYNote (7)||8,581|
IBERDROLA Group’s debt maturity profile at 31 March 2016 is as follows: