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Financial statements / Notes to the consolidated financial statements / Note 25

25. Loans and borrowings

This note provides information about the contractual terms of Heineken’s interest-bearing loans and borrowings. For more information about Heineken’s exposure to interest rate risk and foreign currency risk refer to note 30.

Non-current liabilities

In millions of EUR 2006 2005
Secured bank loans 10 7
Unsecured bank loans 699 841
Unsecured bond issues 1,343 1,341
Finance lease liabilities 6 6
Non–current interest bearing liabilities 2,058 2,195
Non-current non-interest bearing liabilities 33 38
2,091 2,233

Current interest bearing liabilities

In millions of EUR 2006 2005
Current portion of unsecured bank loans 184 404
Current portion of unsecured bond issues – 3
Current portion of finance lease liabilities 1 2
Total current portion of non-current interest bearing liabilities 185 409
Deposits from third parties 299 284
Other current interest bearing liabilities 10 16
Bank overdrafts 747 351
1,241 1,060

Net interest-bearing debt position

In millions of EUR 2006 2005
Non-current interest bearing liabilities 2,058 2,195
Current portion of non-current interest bearing liabilities 185 409
Deposits from third parties and other current interest bearing liabilities 309 300
2,552 2,904
Bank overdrafts 747 351
3,299 3,255
Cash, cash equivalents and other investments (1,386) (608)
Net interest bearing debt position 1,913 2,647

Terms and debt repayment schedule

Terms and conditions of outstanding loans are as follows:

In millions of EUR Currency Nominal interest rate Repayment Carrying amount 2006 Carrying amount 2005
Secured bank loans various various various 10 7
Unsecured bank loans EUR various 2007-various 520 818
Unsecured bank loans PLN 4.33% 2007-2011 26 76
Unsecured bank loan CLP 5.26% 2007-2011 87 98
Unsecured bank loan EGP 10.63% 2007-2011 85 111
Unsecured bank loans various various 2007-various 165 142
Unsecured bond issue EUR 4.38% 2010 499 498
Unsecured bond issue EUR 5.00% 2013 597 596
Unsecured bond issue EUR 5.50% 2008 200 200
Unsecured bond issue CLP 5.91% 2007-2024 47 50
Deposits from third parties and other current interest bearing liabilities various various 2007-various 309 300
Finance lease liabilities various various 2007-various 7 8
2,552 2,904

Committed facilities: the Heineken N.V. €2 billion Revolving Credit Facility 2005-2012 was not utilised per 31 December 2006 (31 December 2005: €60 million utilised).

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