129 / 144
6 Financial liabilities due to subsidiaries
Financial liabilities due to subsidiaries in current liabilities contain both short-term loans and cash
pool liabilities. The split at year-end is as follows:
CHF million
31.12.2016 31.12.2015
Current loans
–
59.1
Cash pool liabilities
48.5
36.8
Total
48.5
95.9
7 Bonds
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 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.
8 Financial liabilities due to banks
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 37.4 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 finan-
cial covenants were met at all times.
125
Autoneum
Financial Report 2016
Financial Statements of Autoneum Holding Ltd