Debt Profile

Debt Profile

At September 30, 2019, we carried a total debt balance (including accrued interest) of €5,858.4 million, of which €1,888.2 million principal amount is related to the Senior Secured Fixed Rate Notes with maturities ranging from July 2027 through March 2028 and €2,838.1 million principal amount is owed under our 2018 Amended Senior Credit Facility with maturities ranging from August 2026 through December 2027. Our total debt balance at September 30, 2019 also included a principal amount of €394.7 million related to our vendor financing program, substantially all of which is maturing within less than twelve months, and €23.8 million for the outstanding portion of the 2G and 3G mobile spectrum licenses. The remainder primarily represents capital lease obligations associated with the Interkabel Acquisition and operating lease liabilities following the adoption of IFRS 16.

In May 2019, we issued a new short-dated revolving credit facility ("RCF AP") for an aggregate amount of €60.0 million. This facility matures on December 31, 2021, carries a margin of 2.25% over EURIBOR (floored at 0%) and can be used for general corporate purposes of the group. At September 30, 2019, this facility was fully undrawn.

On June 3, 2019, we acquired the remaining 50% stake in the local media company De Vijver Media NV. Immediately after the closing of this transaction, we repaid De Vijver Media's €62.0 million third-party debt and terminated the existing interest rate swaps on its floating-rate debt, resulting in a cash payment of €1.1 million. All transactions were settled through available cash on our balance sheet.

In July 2019, we redeemed 20% of our €530.0 million 4.875% Senior Secured Fixed Rate Notes due July 2027 for an aggregate amount of €109.2 million, which included a €3.2 million make-whole premium reflecting the 103% call premium. This repayment followed a first voluntary redemption of 10% in March 2018 and was partially financed through excess cash on the balance sheet and a temporary draw-down on our revolving credit facilities.

In October 2019, we successfully issued a USD 220.0 million Term Loan and a €175.0 million Term Loan. The net proceeds of these issuances were used to redeem in full the outstanding amount of €371.0 million under the aforementioned July 2027 Notes post the partial July 2019 redemption

Excluding short-term liabilities related to our vendor financing program, we face no debt maturities prior to August 2026 with a weighted average maturity of 7.7 years at September 30, 2019. In addition, we also had full access to €505.0 million of undrawn commitments under our revolving credit facilities at September 30, 2019 with certain availabilities up to June 2023.

For more information on our debt instruments and payment schedule at September 30, 2019, we refer to the Q3 2019 Investor & Analyst Toolkit .