Report of the Report of the
Contents Overview Executive Board Supervisory Board
Financial
statements
Other information
Nominal
Carrying
Face
Carrying
Face
interest
amount
value
amount
value
In millions of EUR
Category
Currency
rate
Repayment
2013
2013
2012
2012
2002 S&N US
Other interest-bearing
private
liabilities
placement
USD
5.6
2014
452
435
491
455
2005 S&N US
Other interest-bearing
private
liabilities
placement
USD
5.4
2015
229
218
248
227
Other interest-bearing
2008 US private
liabilities
placement
USD
5.9
2015
38
38
40
40
Other interest-bearing
2011 US private
liabilities
placement
USD
2.8
2017
65
65
68
69
Other interest-bearing
2008 US private
liabilities
placement
GBP
7.3
2016
30
30
31
31
Other interest-bearing
2010 US private
liabilities
placement
USD
4.6
2018
526
526
548
549
Other interest-bearing
2008 US private
liabilities
placement
USD
6.3
2018
282
282
295
296
Other interest-bearing
liabilities
Various
various
various
various
120
120
120
120
Deposits from
third parties
n/a
various
various
various
543
543
482
482
Finance lease liabilities
n/a
various
various
various
9
9
38
38
11,992
12,040
13,168
13,178
Financing headroom
As at 31 December 2013 no amounts were drawn on the existing revolving credit facility of EUR2 billion. This revolving credit
facility matures in 2018. The committed financing headroom including cash balances available at Group level was approximately
EUR2.7 billion as at 31 December 2013.
Incurrence covenant
HEINEKEN has an incurrence covenant in some of its financing facilities. This incurrence covenant is calculated by dividing net debt
(calculated in accordance with the consolidation method of the 2007 Annual Accounts) by EBITDA (beia) (also calculated in accordance
with the consolidation method of the 2007 Annual Accounts and including the pro-forma full-year EBITDA of any acquisitions made
in 2013). As at 31 December 2013 this ratio was 2.5 (2012: 2.8). If the ratio would be beyond a level of 3.5, the incurrence covenant
would prevent us from conducting further significant debt financed acquisitions.
Heineken N.V. Annual Report 2013
103
