Debt & ratings
Average cost & maturity of financial debt (%)
| FY22 | FY23 | |
| Average cost (%) | 4.27% | 4.39% |
| Subordinated/Hybrid | 4.09% | 4.25% |
| Senior | 5.13% | 5.13% |
| Average maturity (years) | 4.8 | 4.4 |
| Interest expenses on financial debt (€ m) | 470 | 447 |
Total financial debt (€ m)
