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Note E: Long-term borrowings


In € millions

 

2010

 

2011

Debentures

 

1,289

 

1,721

Debt to subsidiaries

 

6,916

 

4,858

Other borrowings

 

40

 

39

Total

 

8,245

 

6,618

For the fair value of the debenture loans and the related interest-rate derivatives, see Note 24 of the notes to the consolidated financial statements.

Debentures

 

 

 

 

 

In € millions

 

2010

 

2011

71/4% 2009/15 (€975 million)

 

1,000

 

634

8% 2009/16 (£250 million)

 

289

 

297

4% 2011/18 (€800 million)

 

 

790

Total

 

1,289

 

1,721

In September 2011, the five year multi-currency syndicated revolving credit facility was renewed and increased to €1.8 billion (previously: €1.5 billion). At year-end 2011 and 2010, this facility had not been drawn. At year-end 2011 and 2010, none of the borrowings was secured by collateral. Borrowings from subsidiaries have no fixed repayment schedule. Interest charged on these borrowings averaged 0.9 percent in 2011 (2010: 0.9 percent).

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