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 |
