Loans and interest rate hedges
VVO Group loans and interest rate hedging by loan group
| EUR million |
|
30 June 2014 |
30 June 2013 |
31 Dec 2013 |
| Interest subsidy loans |
|
608.4 |
606.9 |
611.9 |
| Annuity and mortgage loans |
|
308.1 |
317.1 |
312.6 |
| Market loans |
|
852.0 |
761.5 |
802.0 |
| Other loans |
|
19.7 |
27.2 |
21.0 |
| Commercial papers |
|
59.5 |
31.5 |
47.5 |
| Total |
|
1,847.7 |
1,744.2 |
1,795.1 |
|
|
|
|
|
|
1 January – 30 June 2014 |
1 January – 30 June 2013 |
| Interest costs from property loans |
EUR million |
average interest rate, % |
EUR million |
average interest rate, % |
| Interest subsidy loans *) |
4.7 |
1.6 |
5.5 |
1.8 |
| Annuity loans |
5.9 |
3.8 |
6.8 |
4.3 |
| Market loans |
6.9 |
1.8 |
5.7 |
1.9 |
| - Including hedging expenses |
11.1 |
3.0 |
10.1 |
3.1 |
| Other loans |
0.1 |
3.7 |
0.1 |
3.5 |
| Property loans, total |
21.8 |
2.6 |
22.5 |
2.9 |
|
|
|
|
|
| Interest rate hedges, EUR million |
|
30 June 2014 |
30 June 2013 |
31 Dec 2013 |
| Market-based loans |
|
852.0 |
761.5 |
802.0 |
| - With fixed interest |
|
246.8 |
258.9 |
252.2 |
| - With floating rates |
|
605.2 |
502.6 |
549.8 |
| Interest rate derivative agreements |
|
437.4 |
351.6 |
344.9 |
| Interest rate options |
|
28.0 |
28.0 |
28.0 |
| Value of interest rate derivatives |
|
-39.8 |
-30.0 |
-27.6 |
| Degree of hedging |
|
80% |
80% |
74% |
|
|
|
|
|
| | | | | |
*) The interest subsidy paid by the State to banks was EUR 0.2 (0.6) million.
