BT 2015 Annual Report Download - page 88

86 BT Group plc
Annual Report 2015
Financing and debt maturity
he aor source of our cash inow in recent ears has been the cash
enerated fro our operations.
oether with our coitted ban facilities of 1.bn these are
epected to reain our liuidit sources for the foreseeable future.
urcoitted ban facilities are available until epteber 019
with the option to etend the five-ear ter at the end of the first and
second ears. f areed this provides a seven-ear ter aturin in
epteber01.
n ebruar 01 we sined a new .bn facilit areeent in
relation to financin the proposed acuisition of . his facilit will
be available until the earlier of 1 uust 01 and the completion
oftheacuisition.
one of these facilities had been drawn down at 1 arch 01.
e raised ter debt in the capital arets to re-finance aturin debt.
ebt due within one ear at heded rates is 1.
1HWƬQDQFHH[SHQVH
dusted net finance epense of 0 decreased b 1 as we have
reduced our net debt.
e have shown below an overview of our averae ross debt
investents and cash balances and net debt and the related weihted
averae interest rates over the past three ears.
his shows an increase in the weihted averae interest rate on net
debt to .1. his is due to the eect of carrin hiher investent
balances in advance of debt aturities and pension fundin in 011.
heweihted averae interest rate on ross debt was broadl unchaned
at .0.
ou can see a reconciliation of net finance epense to net interest cash
outow in note  to the consolidated financial stateents.
ear ended 1 arch
2015

01

01

verae ross debt 901 9 1099
eihted averae interest rate on ross debt .0 .1 .1
verae investents and cash balances  1 111
eihted averae interest rate on investents 0. 0. 0.
verae net debt  9 9
eihted averae interest rate on net debta.1 . .1
a([FOXGHVLQWHUHVWUHODWLQJWRXQZLQGLQJRIGLVFRXQWRQSURYLVLRQVDQGGHULYDWLYHVQRWLQDGHVLJQDWHG
hedge relationship.
1,800
1,200
1,500
600
900
0
300
2017 2016
2025 2024 2037 2038 2036
2019 2018 2021 2020 2023 2022 2029 2028 2027 2026 2031 2030 2033 2032 2035 2034
0DWXULW\SURƬOHRIJURVVGHEWH[FOXGLQJOHDVLQJDQGDYHUDJHFRXSRQUDWH
At 31 March
£m
£ debt $ swapped to £ € swapped to £
5.5%
5.2%
6.9%
2.7%
4.3%
6.0%
2.8%
9.5%
6.4%
he aturit profile of our ter debt and the applicable averae coupon rate is shown in the raph below.