As of June 30, 2019, the Company’s total debt stood at Ps.3,818 million, an annual growth of 17.5%, consequence of the 2 issuances of local notes conducted during the first quarter of the year, each one for Ps.1,000 million (short and long term). In its sequential comparison, total debt dropped 9.0%, in line with the payments made to amortize the abovementioned short-term local notes.

Debt structure

Jun-19 Dec-18 Jun-18
Bank debt 1,818 1,637 1,449
Debt securities 2,000 1,574 1,801
Short-term debt 2,049 2,785 2,793
Long-term debt 1,769 427 457
Total debt 3,818 3,212 3,250
Net debt1 196 294 734
1Including restricted cash

As of June 30, 2019, the Company’s leverage ratio stood at 13.63 times.

Jun-19 Dec-18 Jun-18
Adjusted net debt / EBITDAR 4.51x 4.58x 4.84x