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Analysis of bank and bond debt (Tables)
 12 Months Ended
Dec. 31, 2022
Analysis of bank and bond debt  
Summary of borrowings

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Facility

    

Drawn at

    

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Interest rate

    

Facility

    

Drawn at

    

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Interest rate

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amount

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year end

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Headroom

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at year end

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amount

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year end

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Headroom

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at year end

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2022

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2022

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2022

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2022

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2021

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2021

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2021

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2021

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£m

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£m

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£m

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%

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£m

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£m

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£m

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%

Non-current

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$700m term loan due October 2025

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579

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579

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—

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4.9

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—

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—

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—

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—

$1.0bn RCF due October 2027

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827

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—

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827

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0.14

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—

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—

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—

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—

£550m RCF due August 2025

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—

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—

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—

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—

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550

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550

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0.14

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Bond interest 

    

Effective hedged 

    

Bond interest 

    

Effective hedged 

 

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coupon

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interest rate

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coupon

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interest rate

 

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2022

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2022

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2021

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2021

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Non-current

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€400m bond due November 2024

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Fixed 0.95%

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Fixed 3.21%

 

Fixed 0.95

%  

Fixed 3.08

%

€500m bond due May 2026

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Fixed 0.875%

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Fixed 1.78%

 

Fixed 0.875

%  

Fixed 1.54

%

€850m bond due June 2027

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Fixed 3.875%

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Fixed 3.98%

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—

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—

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€600m bond due October 2028

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Fixed 0.5%

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Fixed 1.3%

 

Fixed 0.50

%  

Fixed 1.08

%

€600m bond due June 2030

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Fixed 4.375%

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Fixed 4.38%

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—

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—

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£400m bond due June 2032

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Fixed 5.0%

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Fixed 5.11%

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—

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—

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Average cost of bond debt at year-end rates

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3.28%

 

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1.78

%