2020 Financial Statements

4. Notes to the IFRS Company Financial Statements / 4 15.4 Financing Liabilities Current and non-current classification — A financial asset or liability is classified as current if it is settled within 12 months after the reporting date, and as non-current otherwise. Financing liabilities comprise obligations towards financial institutions, issued corporate bonds, and borrowing received from joint ventures and other parties. The Company has received several euro-denominated loans and one US dollar-denominated loan from Airbus Finance B.V. (“AFBV”). It has also issued a convertible bond in euro and euro-denominated exchangeable bonds into Dassault Aviation shares and two stand-alone US dollar-denominated bonds on the US institutional market under Rule 144A. Furthermore, the Company has long-term US dollar-denominated loans outstanding with the Development Bank of Japan (“DBJ”). The terms and repayment schedules of these bonds and loans are as follows: Principal amount (in million) Carrying amount Coupon or interest rate Effective interest rate Maturity Additional features 31 December 2020 2019 Loans from Airbus Finance B.V. AFBV 10 years (EMTN) €1,000 €1,047 €1,048 2.40% 2.45% Apr. 2024 Interest rate swapped into 3M Euribor +1.40% AFBV 15 years (EMTN) €500 €571 €555 2.15% 2.24% Oct. 2029 Interest rate swapped into 3M Euribor +0.84% AFBV 10 years (EMTN) €600 €626 €617 0.91% 1.01% May 2026 Interest rate swapped into 3M Euribor +0.50% AFBV 15 years (EMTN) €900 €983 €940 1.41% 1.53% May 2031 Interest rate swapped into 3M Euribor +0.66% AFBV US$ Loan 10 years US$1,000 €845 €896 2.72% 2.80% Apr. 2023 Interest rate swapped into 3M US-Libor +0.68% Loans from financial institutions DBJ 10 years US$100 €81 €89 3M US-Libor +1.15% 4.84% Jan. 2021 Interest rate swapped into 4.76% fixed Bond EMTN 5 years €750 €745 €0 1.63% 1,80% Apr. 2025 EMTN 6 years €1,250 €1,243 €0 1,38% 1,47% Jun. 2026 EMTN 8 years €750 €745 €0 2.00% 2.10% Apr. 2028 EMTN 10 years €1,250 €1,237 €0 1.63% 1,74% Jun. 2030 EMTN 12 years €1,000 €987 €0 2,38% 2.49% Apr. 2032 EMTN 20 years €1,000 €988 €0 2.38% 2,44% Jun. 2040 Exchangeable bond 5 years €1,078 €1,075 €1,068 0.00% 0.33% June 2021 Exchangeable into Dassault Aviation SA shares at €1,306.25 per share US$ Bond 10 years US$750 €672 €687 3.15% 3.20% Apr 2027 Interest rate swapped into 3M Libor +0.87% US$ Bond 30 years US$750 €667 €680 3.95% 4.02% Apr 2047 Interest rate swapped into 3M Libor +1.61% Total €12,512 €6,580 Thereof non-current financing liabilities €11,356 €6,580 Thereof current financing liabilities €1,156 €0 Long-term financing liabilities , mainly comprising bonds and liabilities to financial institutions, increased by €4,776 million to €11,356 million (2019: €6,580 million), mainly due to the issuance of two bonds for a total of €6 billion. The first bond was split into a five year-maturity tranche of €750 million with a coupon of 1.625%, an eight year-maturity tranche of €750 million with a coupon of 2.00% and a 12 year-maturity tranche of €1 billion with a coupon of 2.375%. The second bond was split into a six year-maturity tranche of €1.25 billion with a coupon of 1.375%, a ten year-maturity tranche of €1.25 billion with a coupon of 1.625% and a 20 year-maturity tranche of €1 billion with a coupon of 2.375%. 105 Airbus / Financial Statements 2020