Operating experience: Active debt management: the example of SYTRAL in Lyon

In 2013, SYTRAL, the mobility organising authority for the Lyon agglomeration, had a budget of €761 million. For its investments, SYTRAL uses loans. Debt repayment represented 19.4% of expenditure that year. Despite the age of its debt, thanks to active management, SYTRAL achieved an average rate at a level below market conditions (3.29% instead of 4.26%). Consequently, on 30 October 2013, thanks to all of the transactions related to the active management of the debt, both by the decisions taken during the financial year and those passed in previous years, SYTRAL made a total gain of more than €10 million, i.e. more than 20% of its annual financial expenses. This also contributed to the reduction of its debt.