2 www.ahold.com/reports2008
Notes to the consolidated financial statements
20 Loans and credit facilities
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Financial statements
AHOLD ANNUAL REPORT 2008 75
The 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 unless otherwise noted.
Current
portion
Non-current portion
Total
Current
portion
Non-current
portion
Total
million
Within
1 year
Between
1 and 5 years
After
5 years
December 28,
2008
December 30,
2007
December 30,
2007
December 30,
2007
Notional redemption amounts
EUR 1,500 notes 5.875%, due May 20081
952
952
EUR 600 notes 5.875%, due March 20122
407
407
407
407
USD 500 notes 6.25%, due May 2009
356
356
340
340
USD 700 notes 8.25%, due July 20103
491
491
476
476
USD 94 indebtedness 7.82%, due January 20204
2
17
40
59
6
57
63
USD 71 indebtedness 8.62%, due January 2025
51
51
48
48
USD 500 notes 6.875%, due May 2029
356
356
340
340
GBP 500 notes 6.50%, due March 20175
231
231
307
307
JPY 33,000 notes LIBOR plus 1.5%, due May 20316
259
259
199
199
Deferred financing costs
(1)
(1)
(4)
(6)
(2)
(5)
(7)
Total notes
357
914
933
2,204
956
2,169
3,125
Other loans
EUR 95 note 5.625%, due December 2008
95
95
EUR 75 EURIBOR facility, due June 20107
38
38
EUR 100 EURIBOR loan, due March 20127
15
54
69
Other loans (euro denominated)
1
1
Total other loans
1
1
110
92
202
Financing obligations8
10
70
333
413
9
385
394
Mortgages payables9
4
8
2
14
3
12
15
Total loans
372
992
1,268
2,632
1,078
2,658
3,736
1 EUR 600 million was swapped to a six-month floating interest rate. The outstanding balance of the notes of EUR 949 million was repaid at maturity in May 2008.
2 Notes were swapped to USD 534 million at an interest rate of 6.835 percent. During 2005, Ahold bought back a part of the notes in a principal amount
of EUR 193 million and terminated a notional portion of the corresponding swap in the same amount.
3 USD 10 million was early redeemed in October 2008.
4 USD 10 million was redeemed until December 28, 2008.
5 During 2005, Ahold bought back GBP 250 million of the notes. The remaining notional amount of GBP 250 million was, through two swap contracts, swapped
to USD 356 million and carries a six-month floating U.S. dollar interest rate. Ahold is required under these swap contracts to redeem the U.S. dollar notional amount
through semi-annual installments that commenced in September 2004. USD 123 million has been paid down as of December 28, 2008.
6 Notes were swapped to EUR 299 million at an interest rate of 7.065 percent.
7 The loan and facility related to Schuitema, which was divested in 2008, and were not guaranteed by Ahold.
8 The average interest rate for the financing obligations amounted to 7.8 percent in 2008 (2007: 8.0 percent).
9 Mortgages payables are collateralized by buildings and land. The average interest rate for these mortgages payables amounted to 7.3 percent in 2008 (2007: 7.5 percent).
Debt instruments are issued in various currencies and can carry fixed or floating interest rates. The breakdown of debt instruments
issued by Ahold in currency and interest type (excluding the effect of swap contracts) is as follows:
December 28, 2008
December 30, 2007
million
Fixed
interest rate
Floating
interest rate
Fixed
interest rate
Floating
interest rate
Currency
USD
1,642
1,580
EUR
473
1,516
106
GBP
231
307
JPY
259
199
CZK
27
28
Total
2,373
259
3,431
305
