Summary
Key Debt Metrics
| 31 December 2022 | |||
|---|---|---|---|
| Transurban Group | Corporate | Non- recourse | |
| Weighted average maturity (years)1,2 | 6.9 yrs | 5.7 yrs | 7.6 yrs4 |
| Weighted average cost of AUD debt1 | 3.9% | 4.3% | 3.7% |
| Weighted average cost of USD debt1 | 3.6% | 4.1% | 3.4% |
| Weighted average cost of CAD debt1 | 4.9% | 4.6% | 5.4% |
| Hedged1,2,5 | 96.8% | 100.0% | 94.8% |
| Gearing (proportional debt to enterprise value)1,2,6 | 36.4% | ||
| FFO/Debt7 | 11.1% | ||
| Corporate senior interest cover ratio (historical ratio for 12 months) | 4.0x | ||
| Corporate debt rating (S&P / Moody's / Fitch) |
BBB+ / Baa1 / A- | ||
| 30 JUNE 2022 | |||
|---|---|---|---|
| Transurban Group | Corporate | Non- recourse | |
| Weighted average maturity (years)1,2 | 7.1 yrs | 6.2 yrs | 7.6 yrs3 |
| Weighted average cost of AUD debt1 | 3.9% | 4.4% | 3.7% |
| Weighted average cost of USD debt1 | 3.6% | 4.1% | 3.4% |
| Weighted average cost of CAD debt1 | 5.0% | 4.6% | 5.5% |
| Hedged1,2,5 | 98.5% | 100.0% | 97.5% |
| Gearing (proportional debt to enterprise value)1,2,6 | 34.2% | ||
| FFO/Debt7 | 9.1% | ||
| Corporate senior interest cover ratio (historical ratio for 12 months) | 3.3x | ||
| 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 (0.6884 at 30 June 2022 and 0.6778 at 31 December 2022) where no cross currency swaps are in place. CAD debt is converted at the spot exchange rate (0.8885 at 30 June 2022 and 0.9182 at 31 December 2022) where no cross currency swaps are in place.
2. Calculated using proportional drawn debt exclusive of letters of credit.
3. The weighted average maturity of Australian non-recourse debt is 6.3 years at 30 June 2022.
4. The weighted average maturity of Australian non-recourse debt is 6.4 years at 31 December 2022.
5. 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.
6. Calculated using proportional debt to enterprise value, exclusive of issued letters of credit. Security price was $14.38 at 30 June 2022 and $12.98 at 31 December 2022 with 3,071 million securities on issue at 30 June 2022 and 3,075 million securities on issue at 31 December 2022.
7. Based on S&P methodology. FFO is calculated as statutory EBITDA (where EBITDA equals revenue minus operating expenses, net of maintenance provision) plus distributions from investments, minus net interest expense, tax paid, and stock compensation expense. Debt is calculated as statutory drawn debt net of cash, foreign currency hedging and other liquid investments. FFO/Debt calculation methodology may be subject to adjustments in future periods.
Debt Position Summary
As at 31 December 2022
| CORPORATE1 | |
|---|---|
 |
|
| Total debt2 | A$9.3B |
| Average tenor3 | 5.7 years |
| Average AUD interest rate4 | 4.3% |
| Average USD interest rate4 | 4.1% |
| Average CAD interest rate4 | 4.6% |
| AUSTRALIA NON-RECOURSE1 | |
|---|---|
 |
|
| Total debt2 | A$20.3B |
| Average tenor3 | 6.4 years |
| Average AUD interest rate4 | 3.7% |
| Average USD interest rate4 | N/A |
| Average CAD interest rate4 | N/A |
| NORTH AMERICA NON-RECOURSE1 | |
|---|---|
 |
|
| Total debt2 | A$3.8B |
| Average tenor3 | 14.0 years |
| Average AUD interest rate4 | N/A |
| Average USD interest rate4 | 3.4% |
| Average CAD interest rate4 | 5.4% |
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 (0.6778 at 31 December 2022) where no cross currency swaps are in place. CAD debt is converted at the spot exchange rate (0.9182 at 31 December 2022) where no cross currency swaps are in place.
2. Represents drawn amounts on a 100% interest basis, including separate letters of credit issued.
3. Calculated using proportional drawn debt.
4. Proportional drawn debt exclusive of issued letters of credit.
Debt Maturity Profile
Corporate (as at 31 December 2022)
1. The full value of debt facilities is shown. Debt is shown in the financial year in which it matures.
2. Debt values are shown in AUD as at 31 December 2022. CAD, 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 0.6778 at 31 December 2022 where no cross currency swaps are in place. CAD debt is converted at the spot exchange rate 0.9182 at 31 December 2022 where no cross currency swaps are in place.
Non-Recourse (as at 31 December 2022)
1. The full value of debt facilities is shown, not Transurban’s share, as this is the value of debt for refinancing purposes. Debt is shown in the financial year in which it matures. Annuals maturities less than A$25m are not shown for graph purposes.
2. Debt values are shown in AUD as at 31 December 2022. CAD, CHF and USD debt converted at the hedged rate where cross currency swaps are in place. USD debt is converted at the spot exchange rate 0.6778 at 31 December 2022 where no cross currency swaps are in place. CAD debt is converted at the spot exchange rate 0.9182 at 31 December 2022 where no cross currency swaps are in place.
