Outstanding Bonds

The Group's strategy is to finance its balance sheet primarily from the rated long-term public US, UK and European capital markets to maintain a diversified investor profile and a balanced long-term maturity profile and pro-actively refinance maturities as they fall due.

Debt instruments at 31 July 2018

Debt instruments at 31.7.18
  £ millions
$250m 7.20% senior notes 2019 190
$400m 3.625% senior notes 2022 298
€600m 1.25% eurobonds 2023 533
€650m 2.0% eurobonds 2027 575
Debt instruments 1,596
Interest accrual 12
Other indebtedness 2
Gross debt 1,610
Liquid resources (717)
Net debt 893