o www.ahold.com/reports2009
Notes to the consolidated financial statements
21 Loans and credit facilities
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Financials
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
Non-current portion
Current
Non-current portion
portion
Between
Total
portion
Between
Total
within
1 and
After
January 3,
within
1 and
After December 28,
million
1 year
5 years
5 years
2010
1 year
5 years
5 years
2008
Notional redemption amounts
Notes
USD 500 notes 6.25%, due May 2009
356
356
USD 700 notes 8.25%, due July 20101
351
351
491
491
EUR 600 notes 5.875%, due March 20122
407
407
407
407
GBP 500 notes 6.50%, due March 201734
257
257
231
231
USD 94 indebtedness 7.82%, due January 20205
4
20
33
57
2
17
40
59
USD 71 indebtedness 8.62%, due January 2025
49
49
51
51
USD 500 notes 6.875%, due May 2029
349
349
356
356
JPY 33,000 notes LIBOR plus 1.5%, due
May 20316
248
248
259
259
Deferred financing costs
(1)
(3)
(4)
(1)
(1)
(4)
(6)
Total notes
355
426
933
1,714
357
914
933
2,204
Other loans (euro denominated)
1
1
1
1
Financing obligations7
11
73
313
397
10
70
333
413
Mortgages payable8
2
7
1
10
4
8
2
14
Total loans
369
506
1,247
2,122
372
992
1,268
2,632
1 $10 million was early repaid via an open market repurchase in October 2008. $187 million was early repaid in July 2009 as a result of a public tender for the notes, with the
Company paying a repurchase price of $197 million. A loss of $10 million (€7 million) incurred on the buyback of these notes is reported in the income statement as other
financial expense (see Note 9).
2 Notes were swapped to the U.S. dollar at an interest rate of 6.835 percent. During 2005, Ahold bought back a part of the notes with a principal amount of €193 million and
terminated a notional portion of the corresponding swap in the same amount.
3 During 2005 Ahold bought back GBP 250 million of the notes. The remaining notional redemption amount of the notes is net of €25 million (2008: €29 million) representing
an amortized adjustment related to a fair value hedge that no longer meets the criteria for hedge accounting.
4 The remaining notional amount of GBP 250 million was, through two swap contracts, swapped to $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. $150 million has been
paid down as of January 3, 2010.
5 As of January 3, 2010, $13 million was repaid since inception.
6 Notes were swapped to €299 million at an interest rate of 7.065 percent.
7 The average interest rate for the financing obligations amounted to 7.8 percent in 2009 (2008: 7.8 percent).
8 Mortgages payable are collateralized by buildings and land. The average interest rate for these mortgages payable amounted to 7.3 percent in 2009 (2008: 7.3 percent).
Ahold Annual Report 2009 85
