41061 Unite AR22 HI-RES WEB-READY - Flipbook - Page 223
STRATEGIC REPORT
GOVERNANCE
FINANCIAL STATEMENTS
221
OTHER INFORMATION
4.5d) Covenant compliance
The Group monitors its covenant position and the forecast headroom available on a monthly basis. At 31 December 2022,
the Group was in full compliance with all of its borrowing covenants.
The Group’s unsecured borrowings carry several covenants. The covenant regime is IFRS based and gives the Group
substantial operational flexibility, allowing property acquisitions, disposals and developments to occur with relative freedom.
2022
2021
Covenant
Actual
Covenant
Actual
Gearing
1.70
3.25
Secured gearing
