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 2017
| Debt instruments at 31.7.17 | |
|---|---|
| £ millions | |
| $175m 7.37% private placement 2018 | 133 |
| $250m 7.20% senior notes 2019 | 189 |
| $400m 3.625% senior notes 2022 | 301 |
| €600m 1.25% eurobonds 2023 | 533 |
| €650m 2.0% eurobonds 2027 | 574 |
| Debt instruments | 1,730 |
| Interest accrual | 16 |
| Other indebtedness | 3 |
| Gross debt | 1,749 |
| Liquid resources | (782) |
| Net debt | 967 |
| Net assets | 2,638 |
