7. Other Current Interest-Bearing LiabilitiesAudited information
Other current interest bearing liabilities amount to CHF 620 205 551 at the end of 2020 (2019: CHF 407 346 090). They comprise third party liabilities of CHF 329 130 020 (2019: CHF 395 307 100) and intragroup liabilities of CHF 291 075 531 (2019: CHF 12 038 990).
On 17 April 2020, the certificates of indebtedness issued in 2015 in the amount of EUR 150 million (CHF 162 million) reached marurity and were repaid.
On 26 October 2020 the certificates of indebtness issued in 2015 in the amount of EUR 212 million (CHF 229 million) reached maturity and were repaid.
On 24 April 2019 a bond issued in 2012 in the amount of CHF 285 million reached maturity and was repaid.
One certificate of indebtness issued in 2016 with a nominal value of EUR 55 million and two certificates of indebtness issued in 2016 with a nominal value of USD 227 million will mature in 2021 and were therefore reclassified to current interest bearing liabilities.
Since 16 December 2016, Clariant Ltd has an agreement for a CHF 445 million (2019: CHF 500 million) five-year multi-currency revolving credit facility (RCF) with two one-year extension options. The RCF is structured as a club deal with ten key relationship banks with equal stakes and contains an accordion option for an increase up to CHF 600 million. The RCF is structured as a »back-stop« facility for rating purposes to maintain Clariant’s liquidity headroom. It contains customary covenants such as negative pledge, cross default, ownership change and restriction on disposals, mergers and subsidiary debt. The Group is required to maintain one financial covenant (debt leverage) that is tested at the end of each financial half year. The RCF has been extended until 16 December 2023.
The intragroup liabilities comprise the cash pool accounts and current accounts between group companies.