Transurban FY26 Corporate Report Financial statements
Section B: Notes to the Group financial statements for the year ended 30 June 2026
B13 Borrowings (continued) Letters of credit and corporate credit facilities
2026
2025
$M
$M
Facility amount
Amount drawn
Facility amount
Amount drawn
Maturity
Letter of credit facility 1,2 Letter of credit facility 1 Letter of credit facilities 1 Working capital facility 3 General credit facility 1,2
Aug 2026 Jul 2027 May 2028 Jul 2028 Dec 2028
12
12
90
90
218 120
117
229 120
181
60 30
43 30
30
30
6
5
6
5
Total
386
224
475
349
1. Relates to a corporate credit facility. 2. These facilities were amended or refinanced during FY26. 3. Transurban Queensland $30 million letter of credit facility is issued as part of a working capital facility. Covenants A number of the Group's consolidated borrowings include financial covenants. There have been no breaches of any of these covenants during FY26. Management monitor covenants by applying forecast cash flows to ensure ongoing compliance with its obligations. This allows capital management and management action decisions to be made at the asset level (including distributions) should actual cash flows not perform to cash flow projections. Corporate and non-recourse financial covenants are calculated on a trailing 12 month basis. Regular review of a trailing and forward 12 month metric also enables management action to be taken swiftly to mitigate the risks of any covenants breaches. The financial covenants that relate to borrowings classified as non-current and require compliance within 12 months after the reporting date are listed below: Corporate debt
2026
2025
$M
$M
Carrying amount of related borrowings
Carrying amount of related borrowings
Covenant breach threshold
Covenant
Testing frequency
Senior Interest Coverage Ratio
Less than 1.25 times Semi-annual - Jun, Dec
11,201
11,787
Non-recourse debt
2026
2025
$M
$M
Carrying amount of related borrowings
Carrying amount of related borrowings
Covenant breach threshold
Covenant
Testing frequency
Airport Motorway Trust Interest Coverage Ratio Hills Motorway Trust Debt Service Coverage Ratio Lane Cove Tunnel Trust Interest Coverage Ratio Cross City Tunnel Trust Interest Coverage Ratio Transurban Queensland Finance Interest Coverage Ratio
Less than 1.10 times Quarterly - Mar, Jun, Sep, Dec Less than 1.10 times Quarterly - Mar, Jun, Sep, Dec Less than 1.15 times Quarterly - Mar, Jun, Sep, Dec Less than 1.10 times Quarterly - Mar, Jun, Sep, Dec
154 812 241 236
211 811 240
—
Less than 1.20 times Quarterly - Mar, Jun, Sep, Dec
6,838
6,298
There are no indications that the Group will have difficulties in complying with the above covenants within 12 months after the reporting date.
148
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