In the following table Pandox's key debt ratios are summarised.

As of December 31, 2017

FY 2017  FY 2016  FY 2015 FY 2014
Equity to assets, %  36.7 39.7 38.6 38.1
Loan to value, % 50.8 49.3 49.5 48.7
Interest coverage, times 4.2  4.0 3.6 2.6
Average cost of debt, % -2.6  -2.6 -2.8 -3.6
Net-interest bearing debt, MSEK 25,474  18,324 15,376 12,587