Financial debt

At December 31, 2017, net financial debt totaled 116 million euros, 946 million euros lower than the 1,062 million euros at December 31, 2016.

In 2017, thanks to the cash generated by operating activities and disposals, Edison reimbursed the outstanding bonds (nominal amount of 600 million euros maturing in November) and the credit line provided by EDF Sa expired in April (utilized for 150 million euros at year end 2016), with no recourse to additional sources of funding. The credit line granted by EDF was replaced with another two year revolving credit facility for the same nominal amount (600 million euros), fully available at the end of 2017.

The table below provides a simplified breakdown of the Group’s net financial debt:

(In milions of euros) 12.31.2017 12.31.2016
Non-current bank loans 144 141
Amounts due to other lenders - non-current portion 77 74
Non current net financial debt 221 215
Bonds - current portion 4 615
Short-term financial debt 157 460
Current financial assets (6) (22)
Cash and cash equivalents (260) (206)
Current net financial debt (105) 847
Net financial debt 116 1,062
 
Debt/Equity 0.02 0.17