Change
Tools: Print  PDF Download Key Figures Comparison

Note 19 Long-term borrowings


 

 

Download XLS

 

 

 

In € millions

 

 

 

2008

2007

 

 

 

Debt issued

2,245

1,901

Debt to credit institutions

12

11

Other borrowings

84

42

 

 

 

Total

2,341

1,954

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 25.

In November and December 2008, bonds totaling €0.9 billion matured. We refinanced by means of a bond issue of €1 billion. This bond was placed in the market in December, maturing in five years, with an interest rate of 7.75 percent. The long-term borrowings increased due to debt acquired from ICI. The main item was a bond of $1 billion, of which $500 million was redeemed in December. In addition, a €1 billion is approaching its maturity date in 2009 and was transferred to short-term borrowings.

Debt issued

 

Download XLS

 

 

 

In € millions

 

 

 

2008

2007

 

 

 

55/8 % 2002/09 (€1 billion)

1,043

41/4 % 2003/11 (€750 million)

756

752

55/8 % 2003/13 ($500 million)

395

73/4 % 2008/14 (€1 billion)

997

Other

97

106

 

 

 

Total

2,245

1,901

During 2008, the average effective interest rate was 5.13 percent (2007: 4.9 percent).

Aggregate maturities of long-term borrowings

Download XLS

 

 

 

In € millions

 

 

 

2010 – 2013

after 2013

 

 

 

Debt issued

1,248

997

Debt to credit institutions

11

1

Other borrowings

54

30

 

 

 

Total

1,313

1,028

On December 31, 2008 and 2007, the total amount of long-term credit facilities arranged by AkzoNobel was €1.5 billion, maturing in 2013. At December 31, 2008, € nil (2007: €350) of this facility has been drawn. On December 31, 2008 and 2007, none of the borrowings was secured by collateral.

Finance lease liabilities are included in other borrowings and aggregated €21 million. An amount of €4 million will mature within one year and €17 million will mature in the period 2010 through 2013.

Keyword Search
Copyright © 2009 Akzo Nobel N.V.