Page 5 - McKay 2013 Full Year Presentation

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5
Financial review
• Weighted average cost of debt down to 5.1% (March 2012: 5.3%)
• £94.5m drawn against facilities of £155.0m
• No debt renewal until February 2016
• Glasgow sale proceeds used to pay down debt until suitable
reinvestment opportunities present themselves
• LTV down to 44% (2012: 47%), debt to shareholders’ funds (adj)
down to 84% (2012: 93%) and hedging at 111%.
• £40.6m negative mark to market for interest rate swaps
(March 2012: negative £34.4m)
(September 2012: negative £42.1m)
Loans and financing
…sound platform maintained