18 Non-derivative Financial Liabilities
|
Dec. 31, 2019 |
June 30, 2020 |
||
|---|---|---|---|---|
in € million |
non-current |
current |
non-current |
current |
|
|
|
|
|
Non-derivative financial liabilities |
|
|
|
|
Liabilities to banks |
6,853.9 |
549.1 |
7,239.8 |
324.3 |
Liabilities to other creditors |
14,344.1 |
1,727.6 |
15,479.6 |
1,247.8 |
Deferred interest from non-derivative financial liabilities |
– |
100.2 |
– |
112.8 |
|
21,198.0 |
2,376.9 |
22,719.4 |
1,684.9 |
|
|
|
|
|
The U.S. dollar bond issued in 2013 is 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 € 38.5 million lower than the recognized value (Dec. 31, 2019: € 37.8 million).
The nominal obligations of the liabilities to banks and the liabilities to other creditors developed as follows:
in € million |
Dec. 31, 2019 |
June 30, 2020 |
||||
|---|---|---|---|---|---|---|
|
|
|
||||
|
||||||
Bond (U.S. dollar)* |
185.0 |
185.0 |
||||
Bond (EMTN)* |
13,652.3 |
14,551.7 |
||||
Commercial Paper* |
300.0 |
– |
||||
Promissory note loan* |
50.0 |
50.0 |
||||
Portfolio loans |
|
|
||||
Pfandbriefbank, Landesbank Baden-Württemberg* |
500.0 |
500.0 |
||||
Berlin Hannoversche Hypothekenbank, Hessische Landesbank* |
461.8 |
461.8 |
||||
Berlin-Hannoversche Hypothekenbank (Landesbank Berlin)* |
499.4 |
499.4 |
||||
Landesbank Baden-Württemberg* |
– |
300.0 |
||||
Berlin Hannoversche Hypothekenbank, Landesbank Berlin und Landesbank Baden-Württemberg* |
293.4 |
– |
||||
Deutsche Hypothekenbank* |
157.5 |
154.8 |
||||
Commerzbank* |
168.0 |
168.0 |
||||
ING Diba AG* |
– |
100.0 |
||||
Sparkasse Berlin* |
– |
100.0 |
||||
Nordrheinische Ärzteversorgung* |
27.7 |
27.2 |
||||
Norddeutsche Landesbank* |
30.5 |
– |
||||
|
79.7 |
79.1 |
||||
Berlin-Hannoversche Hypothekenbank Buwog Lüneburg* |
18.7 |
18.5 |
||||
UniCredit - HVB Buwog Berlin* |
28.0 |
27.7 |
||||
UniCredit - HVB Buwog Kreuzberg* |
3.5 |
– |
||||
UniCredit - HVB Buwog Kiel* |
15.3 |
15.1 |
||||
UniCredit - HVB Tempelhofer Feld* |
21.3 |
21.0 |
||||
Mortgages** |
6,912.9 |
7,014.8 |
||||
|
23,405.0 |
24,274.1 |
||||
Repayment of Corporate Bonds
On March 30, 2020, Vonovia repaid the remaining capital of € 300.6 million on a bond issued by Dutch subsidiary Vonovia Finance B.V.
Repayment of Commercial Paper
On February 28, 2020, € 300 million was repaid under the Commercial Paper Program that the Dutch subsidiary Vonovia Finance B.V. had taken out for the Vonovia Group. This means that the Commercial Paper Program has been repaid in full.
Repayment of Secured Financing
Secured financing with remaining capital of € 290 million was repaid to a consortium including Berlin Hyp, Berliner Sparkasse and Landesbank Baden-Württemberg on June 30, 2020, as scheduled.
Issue of Bonds Under the European Medium-Term Notes Program (EMTN)
Via its Dutch subsidiary Vonovia Finance B.V., Vonovia increased an EMTN bond of € 500 million that runs until March 2026 by € 200 million with effect from January 30, 2020.
Vonovia placed two bonds with a total volume of € 1 billion on March 31, 2020. The new bonds will bear interest at an average rate of 1.9% and have a term of four and ten years, respectively.
New Portfolio Loans
Vonovia Finance B.V. took out secured financing for Vonovia of € 300 million with Landesbank Baden-Württemberg in February 2020, as well as € 100 million with ING Bank, a branch of ING-DiBa AG, and € 100 million with Berliner Sparkasse in March 2020, respectively, each with a term of ten years.