Financial statements - Notes to the consolidated financial statements
Note 26
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Subordinated notes
Bonds and notes
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The breakdown of debt instruments issued by Ahold in currency and interest type is (in EUR):
January 1, 2006
January 2, 2005
Fixed
interest rate
Floating
interest rate
Fixed
interest rate
Floating
interest rate
Currency
USD
2,096
1,832
EUR
2,203
261
4,463
281
GBP
315
662
JPY
236
237
CZK
27
27
99
Total
4,641
497
6,984
617
The fair values of these instruments, corresponding derivatives and the foreign exchange and interest rate risk management
policies applied by Ahold are disclosed in Note 34. Fees directly related to the issuance of these debt instruments are
amortized over the term to maturity of the instrument to which they relate. The unamortized amounts are included in deferred
financing costs.
Subordinated notes consists of EUR 91 of notes issued by Ahold and which carried interest at 5.875%. These notes matured
on December 19, 2005.
The bonds and notes in the table below were issued by Ahold or one of its subsidiaries, the latter of which are guaranteed by
Ahold unless otherwise noted. All related swap contracts have the same maturity as the underlying debt and qualify for hedge
accounting treatment unless otherwise noted.
NOTIONAL REDEMPTION AMOUNTS
Between
1 and
5 years
January 1,
2006
January 2,
2005
EUR-denominated bonds and notes
EUR 1,500 notes 6.375%, due June 2005
1,500
EUR 1,500 notes 5.875%, due May 2008
1,091
1,091
1,561
EUR 600 notes 5.875%, due March 2012
407
407
600
EUR 227 bond 6.25%, due December 2006
227
227
227
EUR 200 notes 6.375%, due November 2007
200
200
200
EUR 136 bond 5.875%, due December 2007
136
136
136
USD-denominated notes
USD 700 notes 8.25%, due July 2010
591
591
516
USD 500 notes 6.25%, due May 2009
422
422
369
USD 500 notes 6.875%, due May 2029
422
422
369
USD 94 indebtedness 7.82%, due January 2020
11
68
79
69
USD 71 indebtedness 8.62%, due January 2025
60
60
52
Other-currencies denominated loans
GBP 500 notes 6.50%, due March 2017
315
315
662
JPY 33,000 notes LIBOR plus 1.5%, due May 2031
236
236
237
CZK 3,000 notes PRIBOR plus 0.28%, due September 2005
99
Total
227
2,451
1,508
4,186
6,597
152
