21 – Interest-bearing loans and borrowings
This note gives information on the contractual conditions of the Group’s interest-bearing loans and borrowings. See note 25 for more information on the Group’s interest rate and currency risks.
Some of the interest-bearing loans and borrowings are in US dollars and pounds sterling. These have been hedged for the most part, using derivatives; fair value hedge accounting is applied to them, with the result that gains and losses in the fair value of the hedged portion of the loan are recognised.
| (€ million) |
2008 |
2007 |
| Long-term |
|
|
|
|
| Mortgaged bank loans |
528.4 |
|
520.5 |
|
| Other bank loans |
1,841.8 |
|
1,686.4 |
|
| Capitalised costs |
-7.3 |
|
-8.6 |
|
|
|
2,362.9 |
|
2,198.3 |
| Short-term |
|
|
|
|
| Mortgaged bank loans |
20.2 |
|
19.4 |
|
| Other bank loans |
76.6 |
|
74.2 |
|
|
|
96.8 |
|
93.6 |
|
|
2,459.7 |
|
2,291.9 |
Source: Annual Report 2008, Chapter Financial Statements, page 169 (PDF, 179 kB)
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