Note 17: Long-term borrowings

In € millions

 

2012

 

2013

Debt issued

 

3,289

 

2,458

Debt to credit institutions

 

10

 

48

Other borrowings

 

89

 

160

Total

 

3,388

 

2,666

The amounts due within one year are presented under short-term borrowings. For details on the exposure to interest rate and foreign currency risk, see Note 23. During 2013, the average effective interest rate on debt issued was 5.3 percent (2012: 5.6 percent).

Debt issued

 

 

 

 

 

In € millions

 

2012

 

2013

7 3/4 % 2008/14 (€825 million )

 

823

 

7 1/4 % 2009/15 (€621 million)

 

630

 

626

8 % 2009/16 (£250 million)

 

305

 

299

4 % 2011/18 (€800 million)

 

792

 

793

2 5/8 % 2012/22 (€750 million)

 

739

 

740

Other

 

 

Total

 

3,289

 

2,458

Aggregated maturities of long-term borrowings

 

 

 

 

 

In € millions

 

2015 – 2018

 

After 2018

Debt issued

 

1,718

 

740

Debt to credit institutions

 

22

 

26

Other borrowings

 

119

 

41

Total

 

1,859

 

807

We have a €1.8 billion multi-currency revolving credit, which has been extended in 2013 with an additional year to 2018. At year-end 2013 and 2012, this facility had not been drawn. At year-end 2013 and 2012, none of the borrowings was secured by collateral.

Financial lease liabilities are included in other borrowings and aggregated €51 million (2012: €52 million). An amount of €6 million will mature within one year and €18 million will mature in the period 2015 through 2018 and €27 million after 2018.