Debt and financing

Gross financial debt as of 12/31/2020 (€ million)

Gross debt 2020

Total as of 12/31/2020: € 2,120 million excl. IFRS 16 (as per Senior Facility Agreement)

Net debt constituents maturity as of 12/31/2020 (€ million)

Net debt constituents

Net financial debt as of 12/31/2020 as per SFA: € 927 million
Leverage ratio: 2.4x (1)

(1) Net financial debt/ PF EBITDA of the last 12 months

Mid-term and long-term debt facilities

Long-term facilities

(a) The applicable margin is based on the Group's net financial debt/ EBITDA ratio (proforma and based on the prevailing EBITDA over a rolling 12-months-period)
(b) The Senior Credit Facilities Agreement requires compliance with financial covenants, including the maintenance of certain financial ratios. In particular, the Group is required to maintain a leverage ratio (defined as the ratio between the total amount of the net debt and EBITDA) of 4.00:1 at end December 2020 and thereafter, calculated every twelve months in accordance with the total amount of its net debt at that date and the EBITDA prevailing over a 12-month rolling period.

Cost of bank facilities

Cost of bank facilities

March 15th, 2017 Bond offering