IREIT Global Group Pte. Ltd - Annual Report 2015 - page 21

In FY2015, IREIT achieved an all-in-cost of borrowings of
approximately 2.0% per annum while interest coverage
ratio remained robust at approximately 11.0 times.
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assigned IREIT an issuer rating of “BB” long term corporate
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hence provide a natural hedge for the assets and operating
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IREIT has entered into forward foreign currency exchange
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Unitholders. The distributable income for FY2015 was fully
hedged at an average exchange rate of approximately
S$1.54 per Euro. IREIT has also hedged 80% of the forecast
distributable income for FY2016 at an average exchange
rate of approximately S$1.52 per Euro.
The fair value of the foreign currency exchange contracts as
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capitalisation as at 31 December 2015 respectively.
Financial Review & Capital Management
PRUDENT CAPITAL AND RISK MANAGEMENT
In line with IREIT’s capital management strategy to achieve
an appropriate balance between enhancing returns and
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acquisition.
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€198.6 million which represents an aggregate leverage
ratio of approximately 42.6%. The borrowings comprise the
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i. a secured term loan of €78.4 million which has a
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ii. a secured term loan of €23.6 million with a tenure of
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in interest rates.
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ΖQFRPH )< 80 S$1.52 per Euro DEBT MATURITY PROFILE
AVERAGE WEIGHTED DEBT MATURITY OF 3.8 YEARS(3)
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50%
40%
30%
20%
10%
0% FY2018 FY2017 FY2019 FY2020
12%
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49%
39%
Proceeds raised from IPO
For FY2015, a total of €1.5 million 1 of the IPO proceeds were used for hedging costs, administrative expenses, other trust expenses,
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Proceeds raised from Rights Issue
Out of the total gross proceeds of approximately €58.8 million (S$88.7 million1) raised from the Rights Issue, €51.2 million (S$77.3
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tax, €0.2 million (S$0.3 million1) has been used to pay the underwriting commission and €4.4 million (S$6.7 million1) has been used
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and the Rights Issue. Such use is in accordance with the stated use and is materially in accordance with the percentage of the
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USE OF PROCEEDS
19
IREIT Global ANNUAL REPORT 2015