Debt Capital

Well Structured Balanced Sheet

Minimal interest rate risk

  • Over 85% of total debt either fixed rate or swapped to fixed
  • Average remaining duration of fixed rate debt of approximately 4.5 years (including swaps)

Low refinancing risk

  • Focus on long duration debt
  • Well-staggered debt maturities
  • Cash flows before capex sufficient to meet near-term debt repayments, even with no roll-over

Access to multiple funding sources

  • Utilize senior unsecured investment grade bonds, investment grade term ABS and senior unsecured bank loans

Investment Grade Credit Rating

We have a BBB corporate rating and senior unsecured debt rating from S&P, and a BBB- corporate rating and senior unsecured debt rating from Fitch.