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4.2 FINANCIAL STATEMENTS OF DANONE SA, THE DANONE PARENT COMPANY
Note 14. Bonds and other financial debt
DANONE
REGISTRATION DOCUMENT 2015
157
Bonds breakdown by currency
As of December 31, 2015
(in € millions except Nominal value in
foreign currency, in currency millions)
Nominal value
in foreign currency
Historical value Translation difference
Carrying amount
Bonds denominated or swapped into
euros
Euro
6,979
6,979
6,979
6,979
Swiss franc
225
138
138
138
U.S. dollar
(a)
850
682
682
682
Bonds denominated
in other currencies
Yen
43,000
381
328
328
Total
8,180
8,127
8,127
(a) The establishment of cross-currency swaps facilitated the conversion of the USD 850 million bonds (recognized originally in the amount of €685 million), into
euros in the amount of €682 million, thus corresponding to its new historical value.
Portfolio of cross-currency swaps hedging certain foreign-currency denominated bonds
As of December 31, 2015
(in € millions, except Nominal value in foreign currency,
in currency millions)
Nominal value
in foreign currency
Historical value
in euros
Euro – Swiss franc
225
138
Euro – U.S. dollar
850
682
Total
820
In addition, as specified in Note 1 of the Notes to the financial statements of the parent company Danone, Danone Corporate Finance Ser-
vices, a wholly-owned subsidiary, also carries out interest rate hedging transactions in respect of certain bonds issued by the Company.
Other financial debt
Fixed rate/floating rate breakdown and changes during the period
As of Decem-
ber 31, 2014
Changes during the period
As of Decem-
ber 31, 2015
(in € millions)
New borrowings
Repayment
Change in
accrued interest
Revaluation
Fixed rate portion
Loan from Danone Finance
International
(a)
1,000
1,000
Floating rate portion
Commercial paper
(b)
1,066
(97)
969
Other
36
(31)
5
Total
2,102
−
(128)
−
−
1,974
(a) Fixed rate medium-term loan maturing in June 2019.
(b) Changes in commercial paper are show as net changes.
Maturity of Bonds and Other financial debt
As of December 31
(in € millions)
2014
2015
Due date less than 1 year
1,755
1,646
Due date between 1 and 5 years
4,160
4,586
Due date more than 5 years
2,851
3,869
Total
8,766
10,101