Key Financing Statistics

  Sep 2023 Mar 2023
Group    
Net debt £2.2bn £2.2bn
Weighted average debt maturity 5.6 yrs 5.3 yrs
Weighted average interest rate 2.6% 2.9%
Interest cover1 5.8x 5.4x
Loan to value2 28.0% 27.4%
Unsecured Committed facilities £2.1bn £2.1bn
Of which undrawn and cash £1.7bn £1.8bn
Group senior unsecured credit rating A A
Group and share of funds and joint ventures    
% of debt at fixed/capped interest rates (spot) 100% 100%
% of debt at fixed/capped interest rates over 5 years (average) 84% 76%
Net debt3 £3.2bn £3.2bn
Weighted average debt maturity 5.7 yrs 5.9 yrs
Weighted average interest rate 3.4% 3.5%
Interest cover1 3.5x 3.4x
Loan to value2 36.9% 36.0%

1 Underlying profit before interest and tax / net interest
2 Debt to property and investments
3 Adjusted net debt £3.2bn (31 March 2023, £3.2bn). Adjusted net debt differs from IFRS net debt by excluding the mark to market on commercially effective derivatives and related debt instruments.