Summary

Key Debt Metrics

31 DEC 2017
  Transurban Group Corporate Non- recourse
Weighted average maturity (years)1,2 9.3 yrs 6.4 yrs 10.8 yrs4
Weighted average cost of AUD debt1,5 4.9% 5.5% 4.4%
Weighted average cost of USD debt5 4.3% 4.2% 4.4%
Hedged1,6 99.1% 99.4% 98.8%
Gearing (proportional debt to enterprise value)1,7 33.9%  
FFO/Debt8 10.0%
Corporate senior interest cover ratio (historical ratio for 12 months) 4.3x
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%
Hedged1,6 99.4% 99.4% 99.4%
Gearing (proportional debt to enterprise value)1,7 35.3%  
FFO/Debt8 8.6%
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 $0.7800 at 31 December 2017) 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 6.3 years at 31 December 2017.
5. Proportional drawn 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. Proportional debt to enterprise value, exclusive of issued letters of credit. Security prices were $11.85 at 30 June 2017 and $12.43 at 31 December 2017 with 2,052 million securities on issue at 30 June 2017 and 2,178 million securities on issue at 31 December 2017.
8. Based on S&P methodology.

Debt Position Summary

As as 31 December 2017

CORPORATE1
Corporate debt pie chart
Total debt2 A$6.4B
Average tenor3 6.4 yrs
Average AUD interest rate4 5.5%
Average USD interest rate4 4.2%

 

AUSTRALIA NON-RECOURSE1
Australian debt pie chart
Total debt2 A$8.5B
Average tenor3 6.3 yrs
Average AUD interest rate4 4.4%
Average USD interest rate4 n/a

 

US NON-RECOURSE1
US debt pie chart
Total debt2 A$2.3B
Average tenor3 27.3 yrs
Average AUD interest rate4 n/a
Average USD interest rate4 4.4%

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 ($0.7692 at 30 June 2017) 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 31 December 2017)

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 31 December 2017. 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 ($0.7692 at 30 June 2017 and $0.7800 at 31 December 2017) where no cross currency swaps are in place.

Non-recourse (as at 31 December 2017)

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 31 December 2017. 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 ($0.7692 at 30 June 2017 and $0.7800 at 31 December 2017) where no cross currency swaps are in place.
4. The A$288 million maturing in FY21 is a portion of the 495 Express Lanes debt maturing in FY48. This tranche will be refinanced as 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.