Investor Presentaiton
Proactive Capital Management
As at
30 September 2021
9.5
As at
30 June 2021
9.4
Total Borrowings (S$ billion)
Aggregate Leverage (1
% of Borrowings that are Green/Sustainability-linked
% of Borrowings on Fixed Interest Rate
% of Total Assets that are Unencumbered
Net Debt/ EBITDA (2)
Interest Coverage (3)
Average Term to Maturity (years)
Average Cost of Debt (4)
CICT's Issuer Rating(5)
40.9%
40.5%
17%
15%
84%
85%
95.7%
95.8%
N.M.
N.M.
4.1x
4.0x
4.1
4.3
2.3%
2.4%
'A3' by Moody's
'A-' by S&P
'A3' by Moody's
'A-' by S&P
Notes:
(1) In accordance with Property Funds Appendix, CICT's proportionate share of its joint ventures' borrowings and deposited property values are included when computing aggregate leverage. Correspondingly,
the ratio of total gross borrowings to total net assets is 71.9%.
(2) Net Debt comprises Gross Debt less total cash and EBITDA refers to earnings of CICT Group, before interest, tax, depreciation and amortisation (excluding effects of any fair value changes of derivatives and
investment properties, foreign exchange translation and non-operational gain/loss), on a trailing 12-month basis.
(3) Ratio of earnings of CICT Group, before interest, tax, depreciation and amortisation (excluding effects of any fair value changes of derivatives and investment properties, foreign exchange translation and non-
operational gain/loss) over interest expense and borrowing-related costs, on a trailing 12-month basis.
(4) Ratio of interest expense over weighted average borrowings.
(5) Moody's Investors Service downgraded CICT's issuer rating to 'A3' on 1 October 2020. S&P Global Ratings assigned 'A-' issuer rating to CICT on 30 September 2020.
N.M.: Not meaningful
CapitaLand Integrated Commercial Trust E
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