MERLIN Properties Annual Report 2021

MERLIN Properties | 41 MERLIN’s net financial debt as of 31 st December is € 5,246,592 thousand. This implies a Loan To Value of 39.2% including transfer costs, which represents a reduction of 76 bps since 31/12/2020 (39.9%). The breakdown of MERLIN’s debt is the following: MERLIN’S debt has an average maturity period of 5.3 years. The chart showing debt maturity profile is the following: (€ million) Unsecured bonds Secured bank loans Unsecured loans 2022 548 12 560 2023 743 12 754 2024 850 11 861 2025 600 19 619 2026 800 90 890 2027 500 21 521 2029 300 23 323 2030 29 500 23 552 +2031 29 600 522 1,122 2028 22 22 % Gross financial debt 12.1% 14.1% 73.7% 100.0% Average cost (%) 2.84% 1.73% 2.01% 2.07% % interest rate hedged 100.0% 100.0% 100.0% 100.0% (€ million) Secured bank loans 756 5,247 Total Net Debt (980) Cash Unsecured loans 879 Unsecured bonds 4,591 6,227 Total Gross Debt