96 / 130
24 Borrowings
CHF million
Duration less than
1 year
Duration
1 to 5 years
Duration 5 and
more years
Total
Bond
-
124.6
-
124.6
Bank debt
13.4
44.9
-
58.3
Finance lease obligations
0.5
-
-
0.5
Other borrowings
0.1
1.4
-
1.5
Total at December 31, 2015
14.0
170.9
-
184.9
CHF million
Duration less than
1 year
Duration
1 to 5 years
Duration 5 and
more years
Total
Bond
-
124.4
-
124.4
Bank debt
18.0
49.3
-
67.3
Finance lease obligations
0.2
0.5
-
0.7
Other borrowings
2.2
1.0
-
3.3
Total at December 31, 2014
20.4
175.3
-
195.6
On December 14, 2012, Autoneum Holding Ltd issued a fixed rate bond with a nominal value
of CHF 125.0 million, which is listed on the SIX Swiss Exchange (AUT12, ISIN: CH0196770439).
The bond carries a coupon rate of 4.375%, and has a term of five years with a final maturity
on December 14, 2017. On December 31, 2015, the market value of the bond was CHF 132.0 million
(2014: CHF 133.9 million).
Autoneum maintains a long-term credit agreement with a banking syndicate in the amount of
CHF 150.0 million, whereof CHF 40.0 million was drawn at year-end (2014: CHF 40.6 million). The
line of credit may partly be used as a guarantee facility. The final maturity date is December 31, 2019.
The interest rate is based on the LIBOR rate plus an applicable margin, which is determined based
on the ratio of net debt to EBITDA. The credit agreement contains customary financial covenants,
which include the ratio of net debt to EBITDA and a minimal financial equity. Compliance with finan-
cial covenants is checked quarterly and reported to the banking syndicate. In fiscal years 2015 and
2014, the minimum financial requirements were met at all times.
In addition to the aforementioned bond and the long-term credit agreement, local credit limits
and borrowings exist in several countries with individual customary market conditions.
The borrowings are denominated in the following currencies:
CHF million
31.12.2015 31.12.2014
CHF
164.1
165.4
USD
8.2
14.3
BRL
7.8
11.1
Other
4.8
3.6
EUR
-
1.2
Total
184.9
195.6
92
Autoneum
Financial Report 2015
Consolidated financial statements