Cost of debt and hedges The average cost of debt was 2.1% in the first half of 2021 and is expected to decline to 1.8% by the end of 2021. The Interest Coverage Ratio 20 is equal to 5.3x for the same period, compared with 4.9x for the full financial year 2020. The hedge ratio, which measures the percentage of financial debt at a fixed or floating interest rate and then hedged via Interest Rate Swaps (IRSes) is 88% with a weighted average hedging term of 6.8 years.
Hedge ratio evolution
5.2.
Financing strategy during 2021
5.2.1. New financial resources in 2021 •
Capital increase through contribution in kind for 9 million euros 21 At the beginning of 2021, WDP acquired the Sip-Well site in Londerzeel through a contribution in kind against payment of 348,975 new WDP shares. The transaction has led to a 9.4 million euros increase in equity capital.
•
Capital increase through accelerated private placement for 200 million euros22 At the start of February 2021, WDP launched a capital increase in cash within the authorised capital with cancellation of the statutory pre-emptive rights of existing shareholders (partly in favour of WDP’s current Reference Shareholder, the management body RTKA, the family company owned by the Jos
20
Defined as operating result (before result on the portfolio), divided by interest rates, minus interest and dividend collection, minus compensation for financial leasing and others. 21 See the press release dated 14 January 2021. 22 See the press releases dated 3 and 8 February 2021.
Press release – 30 July 2021
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