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v3.25.1

Analysis of bank and bond debt (Tables) | 12 Months Ended
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Dec. 31, 2024
Analysis of bank and bond debt |
Summary of borrowings | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Facility |  | Drawn at |  | ​ |  | Interest rate |  | Facility |  | Drawn at |  | ​ |  | Interest rate
​ | ​ | amount | ​ | year end | ​ | Headroom | ​ | at year end | ​ | amount | ​ | year end | ​ | Headroom | ​ | at year end
​ | ​ | 2024 | ​ | 2024 | ​ | 2024 | ​ | 2024 | ​ | 2023 | ​ | 2023 | ​ | 2023 | ​ | 2023
​ | ​ | £m | ​ | £m | ​ | £m | ​ | % | ​ | £m | ​ | £m | ​ | £m | ​ | %
Current | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
$700m term loan due October 2025 | ​ | 559 | ​ | 559 | ​ | — | ​ | 5.18 | ​ | — | ​ | — | ​ | — | ​ | —
$50m term loan due May 2025 | ​ | 40 | ​ | — | ​ | 40 | ​ | 0.21 | ​ | — | ​ | — | ​ | — | ​ | —
Non-current | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
$700m term loan due October 2025 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 550 | ​ | 550 | ​ | — | ​ | 5.94
$1.0bn RCF due October 2029 | ​ | 799 | ​ | — | ​ | 799 | ​ | 0.14 | ​ | 785 | ​ | — | ​ | 785 | ​ | 0.14
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Bond interest |  | Effective hedged |  | Bond interest |  | Effective hedged |
​ | ​ | coupon | ​ | interest rate | ​ | coupon | ​ | interest rate |
​ | ​ | 2024 | ​ | 2024 | ​ | 2023 | ​ | 2023 | ​
Current | ​ | ​ | ​ | ​ |  | ​ |  | ​ | ​
€400m bond due November 2024 | ​ | — | ​ | — |  | Fixed 0.950 | % | Fixed 3.60 | %
Non-current | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
€500m bond due May 2026 | ​ | Fixed 0.875% | ​ | Fixed 2.66% |  | Fixed 0.875 | % | Fixed 2.80 | %
€850m bond due June 2027 | ​ | Fixed 3.875% | ​ | Fixed 4.95% | ​ | Fixed 3.875 | % | Fixed 5.01 | %
€600m bond due October 2028 | ​ | Fixed 0.500% | ​ | Fixed 2.12% |  | Fixed 0.500 | % | Fixed 2.23 | %
€600m bond due June 2030 | ​ | Fixed 4.375% | ​ | Fixed 4.58% | ​ | Fixed 4.375 | % | Fixed 4.48 | %
£400m bond due June 2032 | ​ | Fixed 5.000% | ​ | Fixed 5.19% | ​ | Fixed 5.000 | % | Fixed 5.20 | %
Average cost of bond debt at year-end rates | ​ | ​ | ​ | 3.96% |  | ​ |  | 3.97 | %

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