Net finance expense

6 Months Ended

Jun. 30, 2026

Net finance expense

Net finance expense

6. Net finance expense


		Three months ended June 30,				Six months ended June 30,
		2026		2025		2026		2025
		$'m		$'m		$'m		$'m
Senior Facilities interest expense*		43		40		87		79
Net pension interest expense		2		1		3		2
Lease interest expense		6		6		11		12
Losses on derivative financial instruments		—		3		—		8
Foreign currency translation losses		4		1		5		2
Other net finance expense		7		8		13		12
Net finance expense before exceptional items		62		59		119		115
Exceptional net finance expense (note 5)		2		8		5		2
Net finance expense		64		67		124		117

*Includes interest related to Senior Secured Green Notes and Senior Green Notes and in the prior period, the Senior Secured Term Loan which was repaid in December 2025.

During the six months ended June 30, 2026, the Group recognized $11 million (2025: $12 million) of interest paid related to lease liabilities in cash used in operating activities in the unaudited consolidated interim statement of cash flows. Other net finance expense is primarily comprised of fees incurred on the Group’s receivables financing arrangements.