104 / 144
24 Borrowings
CHF million
Duration less than
1 year
Duration
1 to 5 years
Duration 5 and
more years
Total
Bonds
124.8
–
74.7
199.5
Bank debts
5.5
1.6
–
7.1
Other borrowings
–
1.4
0.7
2.1
Total at December 31, 2016
130.3
3.0
75.4
208.7
CHF million
Duration less than
1 year
Duration
1 to 5 years
Duration 5 and
more years
Total
Bonds
–
124.6
–
124.6
Bank debts
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
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, 2016, the market value of the bond was CHF 129.6 million
(2015: CHF 132.0 million).
On July 4, 2016, Autoneum Holding Ltd issued a fixed-rate bond with a nominal value of
CHF 75.0 million, which is listed on the SIX Swiss Exchange (AUH16, ISIN: CH0326213904).
The bond carries a coupon rate of 1.125%, and has a term of seven years with a final maturity on
July 4, 2023. On December 31, 2016, the market value of the bond was CHF 75.4 million.
Autoneum maintains a long-term credit agreement with a banking syndicate in the amount of
CHF 150.0 million, whereof nil was drawn at year-end (2015: CHF 40.0 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 minimum economic equity. Compliance with financial covenants
is checked quarterly and reported to the banking syndicate. In fiscal years 2016 and 2015, the
financial covenants were met at all times.
In addition to the aforementioned bonds and the long-term credit agreement, local credit limits
and borrowings with individual customary market conditions exist in several countries.
100
Autoneum
Financial Report 2016
Consolidated Financial Statements