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Note 17: Short-term borrowings


In € millions

 

2011

 

2012

Debt to credit institutions

 

300

 

194

Current portion of long-term borrowings

 

194

 

468

Total

 

494

 

662

In 2012, bonds of $133 million and €26 million matured. In December 2013 a bond totaling $0.5 billion will mature and is classified as a short-term borrowing.

We have US dollar and euro commercial paper programs in place, which can only be used to the extent that the equivalent portion of the €1.8 billion multi-currency revolving credit facility is not used. We had no commercial paper outstanding at year-end 2012 and 2011.

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