23. Current Financial Debts
Audited information- Index
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in CHF m |
|
31.12.2020 |
|
31.12.2019 |
|---|---|---|---|---|
Banks and other financial institutions |
|
108 |
|
194 |
Current portion of non-current financial debts (see note 18) |
|
303 |
|
393 |
Total |
|
411 |
|
587 |
Reclassified to held for sale (see note 25) |
|
–13 |
|
— |
Total current financial debts as reported in the balance sheet |
|
398 |
|
587 |
Breakdown by maturity: |
|
|
|
|
in CHF m |
|
31.12.2020 |
|
31.12.2019 |
Up to three months after the balance sheet date |
|
98 |
|
166 |
Three to six months after the balance sheet date |
|
1 |
|
176 |
Six to twelve months after the balance sheet date |
|
312 |
|
245 |
Total |
|
411 |
|
587 |
Reclassified to held for sale (see note 25) |
|
–13 |
|
— |
Total current financial debts as reported in the balance sheet |
|
398 |
|
587 |
On 17 April 2020, the certificates of indebtedness issued in 2015 in the amount of EUR 150 million (CHF 162 million) reached maturity and were repaid.
On 26 October 2020 certificates of indebtedness 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 277 million will mature in 2021 and were 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 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.