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3. Notes

30. Bonds

30. Bonds

The carrying amounts and fair values of bonds are as follows:

   

Carrying amount

Fair value

€ million

Coupon rate

Maturity date

2019

Cash Flows

Fair Value changes

Other movements

 

2020

2019

2020

Retail Bond

5.125%

2023

189

0

-2

0

 

186

204

197

Institutional Eurobond

1.875%

2022

352

0

-2

1

 

351

361

357

Institutional Eurobond

4.125%

2021

355

0

-6

1

 

350

363

350

Retail Bond

3.750%

2020

250

0

0

-250

 

0

252

0

EMTN Note1

1.000%

2027

0

0

0

150

 

150

0

151

Total bonds

  

1 146

0

-10

-99

 

1 037

1 180

1 055

Of which:

          

Non-current

  

896

0

-10

-199

 

687

928

705

Current

  

250

0

0

101

 

350

252

350

Derivatives used for hedging

  

- 23

0

10

0

 

-14

  

Of which:

          

Non-current assets (-)

  

- 23

0

10

0

 

-14

  

Current assets (-)

  

- 1

0

1

0

 

0

  

Non-current liabilities (+)

  

0

0

0

0

 

0

  

Current liabilities (+)

  

1

0

-1

0

 

0

  
  • 1 EMTN: Euro Medium Term Note. The fair value of the EMTN Notes cannot be accurately determined given the limited liquidity in secondary market trading for these notes, and is for reporting purposes replaced by the carrying value.