Group
Mar 2024 | Mar 2023 | |
Net debt | £2.2bn | £2.2bn |
Weighted average debt maturity | 6.1 yrs | 5.6 yrs |
Weighted average interest rate | 2.6% | 2.9% |
Interest cover1 | 5.9x | 5.4x |
Loan to value2 | 28.5% | 27.4% |
Unsecured Committed facilities | £2.1bn | £2.1bn |
Of which is undrawn and cash | £1.9bn | £1.8bn |
Group senior unsecured credit rating | A | A |
1 Underlying profit before interest and tax / net interest
2 Debt to property and investments
Group and share of joint ventures
Mar 2024 | Mar 2023 | |
% of debt at fixed/capped interest rates (spot) | 100% | 100% |
% of debt at fixed/capped interest rates over 5 years (average) | 86% | 76% |
Net debt3 | £3.3bn | £3.2bn |
Weighted average debt maturity | 5.8 yrs | 5.9yrs |
Weighted average interest rate | 3.4% | 3.5% |
Interest cover1 | 3.5x | 3.4x |
Loan to value2 | 37.3% | 36.0% |
1Underlying profit before interest and tax / net interest
2Debt to property and investments
3Adjusted net debt £3.3bn (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.