Investor Presentaiton
Well-Laddered Debt Maturities with Enhanced Liquidity Support from
Committed Credit Facilities
•
$11.3B of debt outstanding as of June 30,
2023
•
о
Includes $0.4B of commercial paper and
$10.9B of long-term debt
Debt maturities are well laddered out to
2052; weighted average maturity (WAM)
of ~11 years
Debt Maturity Profile¹
($ millions)
Maturity towers are manageable as no more
than $1.0B of debt comes due in any given
year (relative to $3.0B of reported free cash
flow for FY'22)
Enhanced liquidity support from $1.75B in
committed credit between $750M credit
facility due Oct 2024 and $1.0B credit
facility due Sep 2026; full availability under
both facilities as of June 30, 2023
1,200
Will evaluate incremental debt issuances
beyond refinancing needs as EBITDA grows
while maintaining a strong investment grade
credit profile
521
800
400
о
750
600
350
Q4 2024
Q3 2023
Q4 2023
Q1 2024
Q2 2024
Q3 2024
2025
545600
350
2026
2027
2028
Senior Notes
AON
1
1,000
900
750
750
500
300
2029
2030
2031
2032
2033
2040
2041
2042
256 250
2043
2044
600
550
600
2045
2046
2047
2048
2049
2050
2051
2052
Does not include commercial paper outstanding on June 30, 2023 ($0.4B); debt stacks reflect notional amounts outstanding; EUR 500M senior notes due 2026 converted to USD at 1.09 FX rate.
Jr. Sub Notes
11
900View entire presentation