Note 32 – Interest-bearing loans and borrowings

 

Group Parent Company
2015 2014 2015 2014
Bond loan 114 350 79 075 114 350 79 075
Loans from credit institutions 17 122 9 435 14 957 0
Finance lease obligations 2 514 5 425 0 0
Loans from group companies 0 0 0 17
Other loans 279 605 0 0
Total 134 265 94 540 129 307 79 092
thereof non-current portion 133 003 86 875 129 307 79 092
thereof current portion 1 262 7 665 0 0

On 9 July 2013, the Parent Company issued a four year 80 MEUR Senior Secured High Yield Bond, with final maturity on 9 July 2017. On 17 March 2015 the Parent Company increased the bond loan with 35 MEUR. The bond loan has floating coupon of 1 months Euribor + 5.75% which is paid quarterly. In connection to the issuance of the bond, directly attributable transaction cost amounting to 1 295 TEUR were recognized as part of the initial cost of the bond loan. Cost for additional bond loan amounting to 132 TEUR.

As a part of the financing of the acquired business the Parent Company raised a loan of 15 MEUR from Pohjola Bank plc on 21 April 2015. The loan has floating coupon of Euribor + 2,5% which is paid quarterly. Final maturity of the loan is 2 years and six months from date of agreement. In connection to the issuance of the loan directly attributable transaction costs amounting to 75 TEUR were recognized as part of the initial cost of the loan.

The Group has the following overdraft facilities:

2015 2014
Overdraft facilities granted 20 646 17 536
Used amounts (presented as loans from credit institutions) 809 1 981

Below is a specification of the Group’s finance lease obligations:

2015 2014
Minimum lease payments:
within 1 year 1 497 941
within 2-5 years 1 120 4 885
later than 5 years 0 115
Total minimum lease payments 2 617 5 941
Amount representing interest -103 -516
Carrying amount of finance lease obligations 2 514 5 425
thereof non-current portion 1 120 4 642
thereof current portion 1 497 783