Obligatory Debt Repayments in HY
In millions of EUR
Teineken's policy is to keep committed headroom of EUR 1 billion - EUR 1.5 billion for the next year. As at
inuary 2010 the available headroom (including cash available at Group level) was approximately EUR2 billion,
the EUR2 billion Revolving Credit Facility 2005-2012 was undrawn.
eineken currently has committed financing in place until 2012 to cover all maturing debt obligations from
aerational cash flows and available credit facilities.
jineken has an incurrence covenant in some of its financing facilities. Our incurrence covenant is calculated
dividing net debt (calculated in accordance with the consolidation method of the 2007 Annual Accounts) by
BITDA (beia) (also calculated in accordance with the consolidation method of the 2007 Annual Accounts and
eluding the pro-forma full-year EBITDA of any acquisitions made in 2008). As at 31 December 2009 this ratio
as 2.5 (2008: 3.1). If the ratio would be beyond a level of 3.50, the incurrence covenant would prevent us from
inducting further significant debt-financed acquisitions.
ineken N.V.'s profit (attributable to shareholders of the Company) in 2009 amounted to EUR 1,018 million,
accordance with Article 12, paragraph 7 of the Articles of Association, the Annual General Meeting of
.areholders will be invited to appropriate an amount of EUR318 million for distribution as dividend. This
oposed appropriation corresponds to a dividend of EUR0.65 per share of EUR1.60 nominal value, on account
which an interim dividend of EUR 0.25 was paid on 2 September 2009. The final dividend thus amounts to
UR0.40 per share. Netherlands withholding tax will be deducted from the final dividend at 15 per cent.
Annual Report 2009 - Heineken N.V.