The debt ratio (RREC Royal Decree) was 51,95% on 31 December 2022. The debt ratio (IFRS) amounts to 50,77%.
Taking into account Home Invest Belgium's strategy to keep its debt level below 55% in the medium and long term, Home Invest Belgium still has a debt capacity of € 54,08 million to fund new investments.
Taking into account a maximum permitted debt ratio of 65%, Home Invest Belgium has a debt capacity of € 297.63 million, as defined by the RREC Act to fund new investments.
Debt ratio (RREC Royal Decree) on 31/12/2022
Composition of financial debts
On 31 December 2022 Home Invest Belgium had € 391.00 million in financial debts, composed of:
Bilateral credit lines drawn for an amount of € 268.00 million with 6 different financial institutions with well spread maturity dates until 2029. There are no maturity dates in 2023. The next maturity date is in 2024;
Bonds for an amount of € 89.00 million maturing in 2032;
Treasury notes ("commercial paper") for an amount of € 34.00 million. Notwithstanding the short-term nature of the outstanding commercial paper, the outstanding amount is fully covered by available long-term credit lines (back-up lines).
Maturity of financial debts
The weighted average remaining duration of the financial debts amounts to 4.8 years. On 31 December 2022, Home Invest Belgium disposed of € 70.00 million of undrawn available credit lines consisting of: