| 18 Non – current financial liabilities | 31.12.2009 | 31.12.2010 | ||||
|---|---|---|---|---|---|---|
| CHF thousands | ||||||
| Currency | Due date | Interest | ||||
| Note | CHF | 02.07.2011 | 4.500% | 15,000 | - | |
| Note | CHF | 10.04.2017 | 3.625% | 15,000 | 15,000 | |
| Note | CHF | 30.03.2018 | 3.660% | 25,000 | 25,000 | |
| Note | CHF | 20.03.2023 | 3.625% | 10,000 | 10,000 | |
| Note | CHF | 28.06.2030 | 2.500% | - | 20,000 | |
| Bank loan | CHF | 12.12.2020 | 3.100% | 10,000 | 10,000 | |
| Bank loan | CHF | 04.07.2016 | 3.360% | 50,000 | 50,000 | |
| Bank loan (SET)1) | EUR | 30.06.2014 | variable | 104,041 | 62,500 | |
| Bank loan (SET)1) | EUR | 31.07.2015 | 5.020% | 81,746 | 68,750 | |
| Interest rate swaps1) | 5,275 | 3,646 | ||||
| Loans | 316,062 | 264,896 | ||||
| Debenture bond par value | CHF | 18.11.2016 | 2.500% | 200,000 | 200,000 | |
| Net expenditures | CHF | -2,538 | -2,195 | |||
| Debenture bond par value | CHF | 20.07.2022 | 2.375% | - | 115,000 | |
| Net expenditures | CHF | - | -2,775 | |||
| Bonds | 197,462 | 310,030 | ||||
| Mortgage loan2) | CHF | 24.03.2011 | variable | 1,445 | - | |
| Mortgages | 1,445 | - | ||||
| Investment loan | CHF | 31.12.2015 | No interest | 910 | 758 | |
| Investment loan2) | CHF | 31.12.2020 | No interest | 2,338 | 2,125 | |
| Investment loan | CHF | 31.12.2015 | No interest | 280 | 234 | |
| Loan (minority interest) | CHF | 31.12.2011 | No interest | 160 | - | |
| Loan (minority interest) | EUR | 31.12.2014 | variable | 7,157 | 7,455 | |
| Loan (minority interest) | EUR | 31.12.2011 | variable | 7,424 | - | |
| Residual purchase obligation Elcomex EN S.r.l. | EUR | 30.06.2015 | 7.500% | - | 13,997 | |
| Other financial liabilities | 18,269 | 24,569 | ||||
| Total | 533,238 | 599,495 | ||||
| Financial liabilities are carried in the following currencies | ||||||
| Swiss francs | 327,594 | 443,147 | ||||
| Euros (translated) | 205,644 | 156,348 | ||||
All non-current financial liabilities fall into the category “Other financial liabilities” and are recognised at amortised cost using the effective interest method.
The weighted average interest rate based on the nominal value on the balance sheet was 3.4 % (previous year: 3.3 %). The fair value of non-current financial liabilities amounted to TCHF 666,496 (previous year: TCHF 615,776). Repower has complied with all credit and loan agreements in full.
1) Interest rate swaps are agreed and hedge accounting applied to hedge the variable-interest SET bank loan. The value adjustment of TCHF 789 (of which TCHF 308 apply to minority interests) was recognised in the consolidated statement of comprehensive income (fair value adjustment of financial instruments) after taking into account deferred income taxes of TCHF -268 (of which TCHF -105 apply to minority interests). The maturity dates of the interest rate swaps are the same as the maturity dates for the SET loan interest and/or will generate cash flows, expenses and income in the coming years. Last year this item was disclosed in current financial liabilities.
2) Mortgage assignments were pledged as security for the investment loan of TCHF 2,125 (previous year: TCHF 2,338) and for the mortgage (now a current financial liability – Note 23). The fixed assets pledged in this connection are disclosed in Note 9.