190 / 266
190 2014 Registration Document
Consolidated Financial Statements Year ended December 31, 2014
5
Notes to the Consolidated statements
32.1.2 BONDS AND NOTES
(in € millions)
December 31,
2013
Issues Repayments
Other
movements
December 31,
2014
Public placements
Maturity
7,156
1,000 (1,216)
6,940
Euro Bond Fixed rate, EUR, 7 years, 5.125%
2014
649
(649)
EMTNs, EUR, 5 years, 5.125%
2014
250
(250)
Euro Bond Fixed rate, EUR, 7 years, 5.375%
2015
644
644
Euro Bond Fixed rate, EUR, 10 years, 3.825%
2015
50
50
Euro Bond Fixed rate, EUR, 10 years, 3.8%
2015
50
50
Euro Bond Fixed rate, EUR, 10 years, 4.375%
2016
263
(96)
167
EMTNs, EUR, 4 years, 4.375%
2016
500
500
EMTNs, EUR, 8 years, 4.678%
2017
250
250
EMTN, EUR, 5 years, 1.875%
2017
1,000
1,000
Euro Bond Fixed rate, EUR, 7 years, 5.25%
2018
500
(221)
279
EMTNs, EUR, 6 years, 1.75%
2019
1,000
1,000
EMTNs, EUR, 10 years, 4.00%
2020
1,000
1,000
EMTNs, EUR, 11 years, 3.875%
2021
1,000
1,000
EMTNs, EUR, 8 years, 1.75%
2022
1,000
1,000
Private placements
279
(279)
Costs related to the buybacks carried out in
July 2014
(1)
(50)
(50)
Adjustment to fair value hedges of fixed rate
borrowings
26
(1)
25
Total bonds and notes
7,462
1,000 (1,496)
(51)
6,915
(1) Since the terms of the new bond issue were not substantially different from the two earlier issues that were redeemed, the initial liability has been maintained in the
balance sheet and the transaction costs have been included in the initial measurement of amortized cost in accordance with IAS 39.
32.1.3 OTHER BORROWINGS
(in € millions)
December 31, 2014
December 31, 2013
Equity swap liability
330
429
Brazilian and Argentinian borrowings
200
149
Other borrowings
350
367
Accrued interest
(1)
112
97
Other items
87
314
TOTAL
1,078
1,356
(1) Accrued interest on total borrowings, including bonds and notes.
Part of Carrefour Brazil’s bank borrowings (€26 million at December 31,
2014 and €40 million at December 31, 2013) is subject to the following
two covenants:
■
the liquidity ratio (ratio of liquid assets to current liabilities) may not
be less than 0.85;
■
the equity ratio (ratio of shareholders’ equity to total assets) may not
be less than 0.25.
These loans having been repaid in January 2015, the banks canceled
their rights under the covenants as of December 31, 2014.