At December 31, 2024, our blended fully-swapped debt borrowing cost was 3.8% (September 30, 2024: 3.9%) and the average tenor of our third-party debt was approximately 3.6 years (September 30, 2024: 3.8 years) with no debt repayments, excluding shorter-term liabilities under our vendor financing and trade receivables securitization programs, prior to March 2028.
In December 2024, we successfully implemented a trade receivables securitization program as a further step to diversify our capital structure at attractive interest rate conditions. This transaction resulted in net proceeds of €189.2 million, leading to an equivalent increase in our cash & cash equivalents at year-end 2024.
In February 2025, we successfully secured commitments for a 5-year €500.0 million standalone capex facility for Wyre priced at EURIBOR +2.75%, marking its first external financing independent from its shareholders. This funding will support Wyre’s roll-out ambitions and cater to a fully funded plan for the next few years.
For additional information, we refer to our Q4 2024 earnings release.