11 Non-Derivative Financial Liabilities

 

 

Jun. 30, 2017

 

Dec. 31, 2016

 

 

 

 

 

 

 

 

 

in € million

 

non-current

 

current

 

non-current

 

current

 

 

 

 

 

 

 

 

 

Non-derivative financial liabilities

 

 

 

 

 

 

 

 

Liabilities to banks

 

2,406.6

 

972.1

 

3,259.1

 

180.3

Liabilities to other creditors

 

9,364.5

 

1,417.6

 

8,384.3

 

1,474.7

Deferred interest from non-derivative financial liabilities

 

 

96.8

 

 

72.6

 

 

11,771.1

 

2,486.5

 

11,643.4

 

1,727.6

The US dollar bonds issued in 2013 are translated at the exchange rate at the end of the reporting period in line with applicable IFRS provisions. Allowing for the hedging rate prescribed through the interest hedging transaction entered into, this financial liability would be € 137.2 million (Dec. 31, 2016: € 209.9 million) lower than the recognized value.

The nominal obligations of the liabilities to banks and the liabilities to other creditors developed as follows:

in € million

 

Jun. 30, 2017

 

Dec. 31, 2016

 

 

 

 

 

*

Under the conditions of existing loan agreements, Vonovia is obliged to fulfill certain financial covenants.

Bonds*

 

600.0

 

600.0

Bonds (US dollar)*

 

739.8

 

739.8

Bonds (EMTN)*

 

8,500.0

 

7,500.0

Bond (Hybrid)*

 

700.0

 

700.0

Taurus*

 

 

1,020.4

Portfolio loans:

 

 

 

 

Berlin-Hannoversche Hypothekenbank (Landesbank Berlin)*

 

495.4

 

501.4

Berlin-Hannoversche Hypothekenbank, Landesbank Berlin and Landesbank Baden-Württemberg*

 

391.3

 

401.5

Corealcredit Bank AG*

 

146.5

 

147.7

Deutsche Hypothekenbank*

 

170.2

 

174.5

HSH Nordbank AG*

 

 

17.1

Nordrheinische Ärzteversorgung

 

32.2

 

33.3

Norddeutsche Landesbank*

 

118.7

 

120.4

Mortgages

 

1,310.8

 

1,238.3

conwert:

 

 

 

 

Mortgages

 

912.4

 

 

 

14,117.3

 

13,194.4

Issue of Bonds under the EMTN – Tap Issuance (European Medium-Term Notes Program)

Based on the current tap issuance master agreement dated April 12, 2016, with the corresponding supplements (€ 15,000,000,000 debt issuance program), Vonovia issued two bonds of € 500 million each via its Dutch financing company in January 2017. The bonds were issued at an issue price of 99.863 %, a coupon of 0.75 % and with a maturity of five years for one tranche, and at an issue price of 99.266 %, a coupon of 1.75 % and with a maturity of ten years for the other.