debt-structure

As at June 30, 2018 1 Drawn Total Facility Current all-in rate Maturity
US$ m US$ m LC2  m
2019 Euro Loan 47.6 47.6 EUR 40.8 3.75% 3 May 1, 2019
2021 Euro Loan 274.4 274.4 EUR 235.3 3.75% 3 Nov 1, 2021
2023 Euro Loan 546.5 546.5 EUR 468.8 4.25% 3 April 26, 2023
2023 Revolving Credit Facility - - USD 75.0 L+4.00%4 April 26, 2023
Accrued guarantee and commitment fees 74.0  
Gross debt and related payables 942.5  
Lease Obligations 10.4  
Total debt and related payables 952.9  
Less: Unrestricted cash (40.4)  
Net debt 912.5  
Weighted average borrowing cost of gross debt 4.11%  

Debt in currencies other than US$ are translated at FX rates as at June 30, 2018. 

LC: local currency.

Reflects rates payable under new pricing grids in a transaction effective April 26, 2018, which depend on CME's net leverage ratio as outlined in the tables below. In addition, we can achieve a further reduction of up to 50 basis points in the all-in rate if we reduce our long-term debt to less than EUR 815.0 million, subject to certain adjustments in respect of specified debt repayments, on or prior to September 30, 2018.

 

2019 and 2021 Euro Loan

Consolidated Net Leverage Total Rate
≥ 7.0x 6.00%
< 7.0x - 6.0x 5.00%
< 6.0x - 5.0x 4.25%
< 5.0x - 4.0x 3.75%
< 4.0x 3.25%

2023 Euro Loan

Consolidated Net Leverage Total Rate
≥ 7.0x 6.50%
< 7.0x - 6.0x 5.50%
< 6.0x - 5.0x 4.75%
< 5.0x - 4.0x 4.25%
< 4.0x - 3.0x 3.75%
< 3.0x 3.50%

Effective April 26, 2018, total all-in rate ranges from LIBOR+6.25% (subject to a floor of 2%) to LIBOR+3.25% (subject to a floor of 2%), depending on CME's net leverage ratio.