96. Notes to the cc
23. Financial instruments continued
Effective interest rates and repricing analysis
In respect of income-earning financial assets and interest-bearing financial liabilities, the following table
indicates their effective interest rates at the balance sheet date and the periods in which they re-price.
2005
Average
effective
interest
rate
Total
1 year
or less
1-2
years
2-5
years
More
than
5 years
Unsecured bond loans:
Bond loan in EUR
4.47%
498
498
Bond loan in EUR
5.10%
596
596
Bond loan in EUR
5.50%
200
200
Bond loan in CLP
2.00%
50
3
3
9
35
Unsecured bank loans:
Loans from banks in EUR
2.70%
818
249
21
279
269
Loans from banks in PLN
5.09%
76
11
65
Loans from banks in CLP
2.97%
98
6
39
53
Loans from banks in EGP
10.86%
111
17
29
65
Other private loans in various currencies
3.83%
142
121
1
12
8
Finance lease liabilities
8
2
2
3
1
These assets/liabilities bear interest at a fixed rate.
In 2005 Heineken amended its existing €1.2 billion revolving credit facility increasing it to be €2.0 billion,
extending the tenor to seven years and improving terms and conditions in line with current market conditions.
The interest rate was re-negotiated from 0.225 percent to 0.15 percent over Euribor (0.17 percent in years
6 and 7). The enlarged facility also integrates the €581 million facility established by a subsidiary.
At 31 December 2005, an amount of €160 million (2004: €556 million) had been drawn on this amended
credit facility.
Heineken N.V. - Annual Report 2005
