98 Notes to the Consolidated Financial Statements (continued) 25. Loans and borrowings Non-current liabilities Current interest-bearing liabilities Net interest-bearing debt position Report of the Report of the Financial Sustainability Other Introduction Executive Board Supervisory Board Statements Review Information Heineken N.V. Annual Report2017 This note provides information about the contractual terms of HEINEKEN's interest-bearing loans and borrowings. For more information about HEINEKEN's exposure to interest rate risk and foreign currency risk, refer to note 30. In millionsof Note 2017 2016 Unsecured bond issues 11,789 9,432 Unsecured bank loans 109 239 Secured bank loans 105 84 Other non-current interest-bearing liabilities 163 1,165 Non-current interest-bearing liabilities 12,166 10,920 Non-current non-interest-bearing liabilities 78 24 Non-current derivatives 57 10 Non-current liabilities 12,301 10,954 In millionsof Note 2017 2016 Current portion of unsecured bonds issued 159 1,251 Current portion of unsecured bank loans 142 4 Current portion of secured bank loans 4 10 Current portion of other non-current interest-bearing liabilities 993 94 Total current portion of non-current interest-bearing liabilities 1,298 1,359 Deposits from third parties (mainly employee loans) 649 622 1,947 1,981 Bank overdrafts and commercial papers 21 1,265 1,669 Current interest-bearing liabilities 3,212 3,650 For further details regarding the interest-bearing liabilities refer to terms and debt repayment schedule included in this note. In millionsof Note 2017 2016 Non-current interest-bearing liabilities 12,166 10,920 Current portion of non-current interest-bearing liabilities 1,298 1,359 Deposits from third parties (mainly employee deposits) 649 622 Total current and non-current loans and borrowings 14,113 12,901 Bank overdrafts and commercial papers 21 1,265 1,669 Gross debt 15,378 14,570 Market value of cross-currency interest rate swaps 30 (57) (242) Cash, cash equivalents and current other investments 17/21 (2,442) (3,035) Net interest-bearing debt position 12,879 11,293 Net interest-bearing debt isthe key metric for HEINEKEN to measure debt and the basis forthe calculation of the Net debt/EBITDA (beia) ratio as used forthe long-term target net debt/EBITDA (beia) ratio and the incurrence covenant. Please referto the end of this note for more information on the incurrence covenant calculation.

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