Finance - Altarea

Financial rating and performance

Liquidity

€2.53 billion

Net debt¹

€1.68 billion

Average maturity²

4 years and 6 months

LTV

28.5 %

Standards & Poor’s rating

BBB-
(negative outlook)
to as of October 9, 2024

¹Banking and bond
² Gross debt maturity (€2.46 billion) after taking into account the cash available to repay the Altareit 2025 bond issue

Data as of 31/12/2024

Group financial strategy

The Group’s financial strategy aims to maintain abundant liquidity and open access to all debt markets (banking, money market and bonds). In line with its ESG, commitments, Altarea includes a clause on alignment with the European taxonomy, a non-financial benchmark, in all its bank loans, whether for corporate finance or individual real-estate assets

Group gross debt

Data as of 31/12/2024

Bank covenants

	Reference standard	Situation at 31/12/2024
LTV (Loan to Value = Net bond and bank debt/Restated value of assets including transfer duties)	≤ 60%	28.5%
ICR (Interest-Coverage-Ratio = Operating income/Net borrowing costs)	≥ 2,0 x	9.6 x

Bond issues

Issue type	Code Isin	Issue date	Date of maturity	Initial duration	Amount issued	Coupon	Final terms
Obligation	FR0013222247	14/12/2016	14/12/2026	10 ans	50 M€	2,45%	Télécharger
Obligation	FR0013453974	17/10/2019	17/01/2028	7 ans	500 M€	1,875%	Télécharger
Obligation	FR00140010J1	16/12/2020	16/01/2030	9 ans	300 M€	1,75%	Télécharger
Obligation	FR001400SVW1	2/10/2024	2/10/2031	7 ans	300 M€	5,50%	Télécharger