2003
92 Heineken N.V. Annual Report 2004 Financial Statements 2004 Notes to the Consolidated Balance Sheet
Long-term borrowings
Amounts falling due after more than
one year relate to:
Bond loan, in interest rate 4.375%
Bond loan, in interest rate 5.0%
Bond loan, in interest rate 4.94%
(2003: 5.01%)
Loans from credit institutions, in
average interest rate 3.59% (2003: 4.22%)
Loans from credit institutions, in PLN,
average interest rate 7.11% (2003: 5.97%)
Loans from credit institutions, in CLP,
average interest rate 3.0% (2003: 3.66%)
Loans from credit institutions, in EGP,
average interest rate 11.2% (2003:12%)
Other private loans, in various currencies,
average interest rate 5.29% (2003: 4.86%)
Other loans, interest free
2004
Total
498
596
198
1,030
41
61
49
147
22
2,642
More than 5 years
498
596
50
16
15
9
1,184
Total
497
596
202
1,139
26
75
19
114
53
2,721
More than 5 years
497
596
160
17
16
18
1,304
Financing activities
The interest-bearing loans are carried at face value plus any premiums and less associated costs.
The other liabilities are carried at face value.
In 2003, a credit facility for €1,200 million was contracted with a syndicate of banks at an interest
rate of 0.225% over Euribor, maturing in December 2008. As at 31 December 2004, an amount
of €50 million had been drawn down from this credit facility.
A number of other loans also contracted, mainly at variable interest rates. The average interest rate
in 2004 was 4.44% (2003:4.72%).
