22. Current Financial Debts

Audited information

in CHF m

 

31.12.2018

 

31.12.2017

Banks and other financial institutions

 

244

 

317

Current portion of non-current financial debts (see )

 

285

 

250

Total

 

529

 

567

Breakdown by maturity:

 

 

 

 

in CHF m

 

31.12.2018

 

31.12.2017

Up to three months after the balance sheet date

 

227

 

255

Three to six months after the balance sheet date

 

297

 

57

Six to twelve months after the balance sheet date

 

5

 

255

Total

 

529

 

567

On 26 September 2018, a bond issued in 2012 in the amount of CHF 250 million reached maturity and was repaid.

A bond issued in 2012 with a nominal value of CHF 285 million will fall due in 2019 and was therefore reclassified to current financial debts.

Current financial debt is recognized initially at fair value, net of transaction costs incurred. Financial debt is subsequently stated at amortized cost. Except for the derivatives, there are no current financial liabilities valued at fair value through profit and loss.

The fair value of financial debt at banks and other financial institutions approximates its carrying amount due to the short-term nature of these instruments.

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