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

As of December 31, 2016

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