MERLIN Properties Annual Report 2023

MERLIN Properties | 43 (1) Including treasury stock MERLIN’s net financial debt as of 31 st December is € 4,049,610 thousand. This implies a Loan To Value of 35.0% including transfer costs, which represents an increase of 234 bps since 31/12/2022 (32.7%). The breakdown of MERLIN’s debt is the following: MERLIN’S debt has an average maturity period of 5.1 years. The chart showing debt maturity profile is the following: (€ million) Unsecured bonds Secured bank loans Unsecured loans 2 2 2 2 2 72 600 800 500 300 30 725 182 500 600 2 2024 602 2025 872 2026 502 2027 727 2028 302 2029 711 170 2030 2031 39 809 > 2032 % Gross financial debt 9.6% 17.5% 72.9% 100.0% Average cost (%) 3.63% 3.70% 1.90% 2.38% % interest rate hedged 96.4% 100.0% 100.0% 99.7% (€ million) Secured bank loans 433 4,050 Total Net Debt (447) Cash (1) Unsecured loans 793 Unsecured bonds 3,300 4,526 Total Gross Debt