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Cont. Note 18
The table below sets out the carrying amount of the Group’s borrowings.
Borrowings
Carrying amount,
December 31,
Issue/maturity date Description of loan Interest rate, % Currency
Nominal value
(in currency) 2012 2013
Bond loans1)
2008–2014 Euro MTN Program Floating USD 42 274 —
2008–2016 Euro MTN Program Floating USD 100 651 647
2009–2014 Euro MTN Program Floating EUR 100 858 —
2011–2016 Euro MTN Program Floating SEK 1,000 999 999
2011–2016 Euro MTN Program 4.500 SEK 1,500 1,545 1,532
2012–2015 Euro MTN Program 3.250 SEK 650 652 652
2012–2015 Euro MTN Program Floating SEK 350 350 350
2012–2017 Euro MTN Program 2.625 SEK 100 100 100
2012–2017 Euro MTN Program Floating SEK 400 400 400
2012–2018 Euro MTN Program 2.910 SEK 270 270 270
2012–2018 Euro MTN Program Floating SEK 730 730 730
2013–2018 Euro MTN Program Floating SEK 600 —599
2013–2018 Euro MTN Program 2.875 SEK 400 —398
2013–2020 Euro MTN Program 3.440 SEK 170 —170
2013–2020 Euro MTN Program Floating SEK 830 —830
Total bond loans 6,829 7,677
Other long-term loans1)
1996–2036 Fixed rate loans in Germany 7.870 EUR 42 338 348
2008–2015 Long-term bank loans in Sweden Floating PLN 338 713 727
2008–2015 Long-term bank loans in Sweden Floating EUR 120 1,030 1,069
2008–2017 Long-term bank loans in Sweden Floating SEK 1,000 1,000 1,000
2013–2021 Long-term bank loans in Sweden Floating SEK 1,000 —1,000
Other long-term loans 95 114
Total other long-term loans 3 ,176 4,258
Long-term borrowings 10,005 11, 935
Short-term part of long-term loans2)
2011–2013 Euro MTN Program Floating SEK 1,000 1,000 —
2008–2014 Euro MTN Program Floating USD 42 —272
Total short-term part of long-term loans 1,000 272
Other short-term loans
Short-term bank loans in Egypt Floating EGP 478 668 503
Other bank borrowings and
commercial papers 498 1,090
Total other short-term loans 1,16 6 1,593
Trade receivables with recourse 629 868
Short-term borrowings 2,795 2,733
Fair value of derivative liabilities 220 165
Accrued interest expenses and prepaid
interest income 68 72
Total borrowings 13,088 14,905
1) The interest-rate fixing profile of the borrowings has been adjusted with interest-rate swaps.
2) Long-term borrowings with maturities within 12 months are classified as short-term borrowings in the Group’s balance sheet.
Short-term borrowings pertain mainly to countries with capital restrictions. The average maturity of the Group’s long-term borrowings including long-
term borrowings with maturities within 12 months was 3.3 years (3.1), at the end of 2013. The table below presents the repayment schedule of long-
term borrowings.
Repayment schedule of long-term borrowings, December 31
2014 2015 2016 2017 2018 2019— Total
Debenture and bond loans —1,002 3,178 500 1,997 1,000 7,677
Bank and other loans —1,910 —1,000 —1,348 4,258
Short-term part of long-term loans 272 —————272
Total 272 2,912 3,178 1,500 1,997 2,348 12,207
notes
124 ANNUAL REPORT 2013
All amounts in SEKm unless otherwise stated