Summary

Key Debt Metrics

30 JUN 2018
  Transurban Group Corporate Non- recourse
Weighted average maturity (years)1,2 9.2 yrs 5.9 yrs 10.8 yrs4
Weighted average cost of AUD debt1,5 4.9% 5.5% 4.5%
Weighted average cost of USD debt5 4.4% 4.3% 4.5%
Weighted average cost of CAD debt5 5.8% - 5.8%
Hedged1,6 98.5% 100.0% 97.5%
Gearing (proportional debt to enterprise value)1,7 35.2%  
FFO/Debt8 8.9%
Corporate senior interest cover ratio (historical ratio for 12 months) 4.9x
Corporate debt rating
(S&P / Moody's / Fitch)
BBB+ / Baa1 / A-

 

30 JUN 2017
  Transurban Group Corporate Non- recourse
Weighted average maturity (years)1,2 9.0 yrs 5.8 yrs 10.7 yrs3
Weighted average cost of AUD debt1,5 4.9% 5.5% 4.5%
Weighted average cost of USD debt5 4.3% 4.2% 4.3%
Weighted average cost of CAD debt5 - - -
Hedged1,6 99.4% 99.4% 99.4%
Gearing (proportional debt to enterprise value)1,7 35.3%  
FFO/Debt8 8.5%
Corporate senior interest cover ratio (historical ratio for 12 months) 3.9x
Corporate debt rating
(S&P / Moody's / Fitch)
BBB+ / Baa1 / A-

1. CAD, CHF, EUR, NOK and USD debt converted at the hedged rate where cross currency swaps are in place. USD debt is converted at the spot exchange rate (0.7692 at 30 June 2017 and 0.7391 at 30 June 2018) where no cross currency swaps are in place. CAD debt is converted at the spot exchange rate (0.9771 at 30 June 2018) where no cross currency swaps are in place.
2. Full value of drawn debt.
3. The average weighted average maturity of Australian non-recourse debt is 6.3 years at 30 June 2017.
4. The average weighted average maturity of Australian non-recourse debt is 6.6 years at 30 June 2018.
5. Proportional debt exclusive of letters of credit.
6. Hedged percentage comprises fixed rate debt and floating rate debt that has been hedged and is a weighted average of total proportional drawn debt, exclusive of issued letters of credit.
7. Calculated using proportional debt to enterprise value, exclusive of issued letters of credit. Security price was $11.85 at 30 June 2017 and $11.97 at 30 June 2018 with 2,052 million securities on issue at 30 June 2017 and 2,225 million securities on issue at 30 June 2018.
8. Based on S&P methodology. June 2017 FFO / Debt has been updated due to a clarification in the methodology, previously it was reported as 8.6%.

Debt Position Summary

As as 30 June 2018

CORPORATE1
Corporate debt pie chart
Total debt2 A$6.4B
Average tenor3 5.9 yrs
Average AUD interest rate4 5.5%
Average USD interest rate4 4.3%
Average CAD interest rate4 N/A

 

AUSTRALIA NON-RECOURSE1
Australian debt pie chart
Total debt2 A$8.6B
Average tenor3 6.6 yrs
Average AUD interest rate4 4.5%
Average USD interest rate4 N/A
Average CAD interest rate4 N/A

 

NORTH AMERICA NON-RECOURSE1
North America debt pie chart
Total debt2 A$2.8B
Average tenor3 23.8 yrs
Average AUD interest rate4 N/A
Average USD interest rate4 4.5%
Average CAD interest rate4 5.8%

1. CAD, CHF, EUR, NOK and USD debt converted at the hedged rate where cross currency swaps are in place. USD debt is converted at the spot exchange rate ($0.7391 at 30 June 2018) where no cross currency swaps are in place. CAD debt is converted at the spot exchange rate (0.9771 at 30 June 2018) where no cross currency swaps are in place.
2. Represents drawn amounts on a 100% interest basis, including separate letters of credit issued.
3. Full value of drawn debt.
4. Proportional drawn debt exclusive of issued letters of credit.

Debt Maturity Profile

Corporate (as at 30 June 2018)

Corporate debt maturity profile chart

1.Debt is shown in the financial year in which it matures.
2.Debt values are shown in AUD as at 30 June 2018. CAD, EUR, NOK and USD debt is converted at the hedged rate where cross currency swaps are in place. USD debt is converted at the spot exchange rate (0.7391 at 30 June 2018) where no cross currency swaps are in place.

Non-recourse (as at 30 June 2018)

Non recursive debt maturity profile chart

1. The full value of debt facilities is shown, not Transurban’s share, as this is the value of debt for refinancing purposes.
2. Debt is shown in the financial year in which it matures.
3. Debt values are shown in AUD as at 30 June 2018. CAD, CHF, EUR, NOK and USD debt is converted at the hedged rate where cross currency swaps are in place. USD debt is converted at the spot exchange rate (0.7391 at 30 June 2018) where no cross currency swaps are in place. CAD debt is converted at the spot exchange rate (0.9771 at 30 June 2018) where no cross currency swaps are in place.
4. A A$304 million tranche of the A$1,365 million in 495 debt maturing in FY42+ will be refinanced in FY21, per the financing structure agreed with the sole holder, J.P. Morgan.
5. 95 Express Lanes and 495 Express Lanes maturities show final maturity dates.