(25) Long-term Debt

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The terms and conditions of long-term debt and its current portion are summarised in the following table:

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At 31 December 2014

At 31 December 2013

Currency

Maturity

Nominal interest rate

Face value

Carrying amount

Nominal interest rate

Face value

Carrying amount

Bonds

 

 

 

 

 

 

 

 

 

TEUR

2017

fixed

4.250%

500,000

498,671

fixed

4.250%

500,000

498,030

TEUR

2016

fixed

6.375%

750,000

748,772

fixed

6.375%

750,000

747,635

TEUR

2022

fixed

4.000%

750,000

741,610

fixed

4.000%

750,000

740,455

TEUR

2023

fixed

3.500%

300,000

297,839

fixed

3.500%

300,000

297,585

TEUR

2021

fixed

3.125%

750,000

742,787

fixed

3.125%

750,000

741,746

Total Bonds

 

 

 

3,050,000

3,029,679

 

 

3,050,000

3,025,452

Bank debt

 

 

 

 

 

 

 

 

 

TEUR

2014–2019

fixed

4.88%

26,632

26,632

fixed

4.88%

31,958

31,958

TEUR

2015–2019

fixed

4.32%

126,000

126,000

fixed

4.32%

168,000

168,000

TEUR

2014

 

 

0

0

variable

0.76%

75,000

75,000

TEUR

2015

fixed

3.51%

200,000

200,000

fixed

3.51%

200,000

200,000

TEUR

2016

fixed

5.41%

50,000

50,000

fixed

5.41%

50,000

50,000

TEUR

2014–2017

 

 

0

0

fixed

4.22%

23,843

23,843

TEUR

2018

fixed

3.44%

200,000

200,000

fixed

3.44%

200,000

200,000

TEUR

2014–2020

 

 

0

0

variable

1.05%

100,000

100,000

Total bank debt

 

 

 

602,632

602,632

 

 

848,801

848,801

Financial debt

 

 

 

3,652,632

3,632,311

 

 

3,898,801

3,874,253

Current portion of long-term debt

 

 

 

−247,326

−247,326

 

 

−136,551

−136,551

Long-term debt

 

 

 

3,405,305

3,384,984

 

 

3,762,250

3,737,702

Bonds

In 2003, Telekom Austria Group initiated a Euro Medium Term Note (“EMTN”) Programme. In January 2005, a Eurobond with a face value of TEUR 500,000, a maturity of twelve years and a coupon of 4.25% was issued. The discount of TEUR 7,693 is amortised over the related terms. The EMTN Programme ended on 31 December 2008, and was not extended.

On 29 January 2009, Telekom Austria Group issued a Eurobond with a face value of TEUR 750,000, a maturity of seven years and a coupon of 6.375%. The discount and the issue costs of TEUR 7,965 are amortised over the related term.

In March 2012, Telekom Austria Group initiated a Euro Medium Term Note (“EMTN”) Programme with a maximum volume of TEUR 2,500,000. On 2 April 2012, Telekom Austria Group issued a bond under the EMTN Programme with a face value of TEUR 750,000, a maturity of ten years and a coupon of 4.0%. The discount and the issue costs of TEUR 11,575 are amortised over the related term.

On 4 July 2013, Telekom Austria Group issued a bond under the EMTN Programme with a face value of TEUR 300,000, a maturity of ten years and a coupon of 3.5%. Discount and issue costs of TEUR 2,574 are amortised over the related term.

On 3 December 2013, Telekom Austria Group issued a bond under the EMTN Programme with a face value of TEUR 750,000, a maturity of eight years and a coupon of 3.125%. Discount and issue costs of TEUR 8,336 are amortised over the related term.

Bank debt

On 27 June 2014, the shareholders’ agreement between ÖIAG, América Móvil and Carso Telecom became effective (see Note (29)). For debt outstanding as of 31 December 2014, an agreement was reached with the creditors that no premature repayment due to the “change of control” clause will be demanded.

In 2014, bank debt amounting to TEUR 119,777 was redeemed prematurely.

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