19. Financial Liabilities
CHF million |
|
2021 |
|
2020 |
|---|---|---|---|---|
Non-current |
|
|
|
|
CHF 250 million 1.0% bond, 2014-2024 |
|
249.4 |
|
249.2 |
CHF 250 million 0.3% bond, 2017-2027 |
|
249.6 |
|
249.6 |
CHF 250 million 0.01% bond, 2020-2028 |
|
249.4 |
|
249.4 |
CHF 250 million 0.25% bond, 2020-2032 |
|
249.4 |
|
249.2 |
Total non-current borrowings |
|
997.8 |
|
997.4 |
|
|
|
|
|
Current |
|
|
|
|
Bank and other borrowings |
|
10.5 |
|
3.1 |
Loans |
|
4.9 |
|
0.8 |
Total current borrowings |
|
15.4 |
|
3.9 |
|
|
|
|
|
Total borrowings |
|
1,013.2 |
|
1,001.3 |
In October 2020, the Lindt & Sprüngli Group paid back the CHF 500 million 0.5% bond. The bond was immediately replaced in October 2020 by two tranches, each at CHF 250 million. The CHF 250 million 0.01% bond, due for repayment in 2028, was issued at 99.73% (net of transaction costs) and will be settled at par. The CHF 250 million 0.25% bond, due for repayment in 2032, was issued at 99.72% (net of transaction costs) and will be settled at par.
The transaction costs were not material (less than CHF 2.0 million). Generally, these are capitalized as borrowing costs and amortized over the term using the effective interest rate. Amortization as well as interest expense are reported as part of financial expenses, which are disclosed in note 25.
The carrying amounts of the Lindt & Sprüngli Group’s financial liabilities are denominated in the following currencies:
CHF million |
|
2021 |
|
2020 |
|---|---|---|---|---|
CHF |
|
997.8 |
|
997.4 |
EUR |
|
7.2 |
|
3.0 |
USD |
|
3.3 |
|
– |
Other currencies |
|
4.9 |
|
0.9 |
Total |
|
1,013.2 |
|
1,001.3 |