PERNOD-RICARD_REGISTRATION_DOCUMENT_2017-2018
5
CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Breakdown of fixed-rate/floating-rate debt before and after interest rate hedging instruments on 30 June 2017 4. and 30 June 2018
30.06.2018
30.06.2017
Debt before hedging
Debt after hedging
Debt before hedging
Debt after hedging
€ million
Fixed-rate debt
6,827
80% 5,819
68% 6,770
88% 6,084
79%
Capped floating-rate debt
-
-
-
-
-
-
-
-
Floating-rate debt
1,701
20% 2,709
32%
946
12% 1,633
21%
FINANCIAL DEBT AFTER HEDGING BY TYPE OF RATE
100% 8,528
100% 7,716
100% 7,716
100%
8,528
On 30 June 2018, before taking account of any hedges, the Group’s gross debt was 88% fixed rate and 12% floating rate. After hedging, the floating-rate portion was 21%. Schedule of financial liabilities on 30 June 2017 and 30 June 2018 5. The following table shows the maturity of future financial liability-related cash flows (nominal and interest). Floating-rate interest flows have been estimated on the basis of rates on 30 June 2017 and 30 June 2018.
Balance sheet value
Contractual flows
< 6 months
6 to 12 months
1 to 2 years
2 to 3 years (923) (255)
3 to 4 years
4 to 5 years > 5 years
At 30.06.2017 € million Nominal value
- -
(8,501) (2,186) (10,687)
(769) (127) (896)
(304) (129) (433)
(15)
(1,067)
(1,648)
(3,775)
Interest
(256) (270)
(238)
(182)
(999)
GROSS FINANCIAL DEBT Cross currency swaps
(8,545)
(1,178)
(1,305)
(1,830)
(4,774)
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
Flows payable ● Flows receivable ●
Derivative instruments – liabilities DERIVATIVE INSTRUMENTS LIABILITIES
(57) (57)
(57) (57)
(19) (19)
(7) (7)
(13) (13)
(13) (13)
(8) (8)
1 1
3 3
TOTAL FINANCIAL LIABILITIES
(8,602)
(10,744)
(915)
(441)
(284)
(1,192)
(1,313)
(1,830)
(4,771)
Balance sheet value
Contractual flows
< 6 months
6 to 12 months
1 to 2 years (891) (249)
2 to 3 years
3 to 4 years
4 to 5 years > 5 years
At 30.06.2018 € million Nominal value
- -
(7,679) (1,886) (9,565)
(323) (123) (447)
(38)
(1,071)
(1,587)
(727) (104) (830)
(3,042)
Interest
(126) (164)
(232)
(176)
(876)
GROSS FINANCIAL DEBT Cross currency swaps
(7,691)
(1,140)
(1,303)
(1,763)
(3,918)
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
Flows payable ● Flows receivable ●
Derivative instruments – liabilities DERIVATIVE INSTRUMENTS LIABILITIES
(43) (43)
(33) (33)
(15) (15)
(2) (2)
(7) (7)
(5) (5)
(1) (1)
(1) (1)
(2) (2)
TOTAL FINANCIAL LIABILITIES
(7,734)
(9,598)
(461)
(166)
(1,147)
(1,308)
(1,764)
(831)
(3,921)
Syndicated loan 6. At 30 June 2018, no drawdowns had been made from the multi-currency syndicated loan of €2,500 million.
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PERNOD RICARD REGISTRATION DOCUMENT 2017/2018
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