Notes to the
consolidated
financial statements
2! Loans and credit facilities
continued
USD
EUR
USD
USD
EUR
USD
USD
USD
168
16
2
23
2
Overview
Business review
Governance
Financials
Investors
Ahold Delhaize Annual Report 2016
Non-current portion
Non-current portion
GBP
413
9
26
35
8
57
65
2
460
460
USD
271
5
23
333
361
253
253
USD
827
4
512
9
22
539
1,183
2,128
3,850
31
472
1,050
1,553
The notes in the table below were issued by Ahold Delhaize or one of its subsidiaries, the latter of which are guaranteed by Ahold Delhaize unless
otherwise noted. The amortization of the fair-value allocation to the debt acquired through business combinations is allocated to the respective
maturity brackets (see Note 4).
Between
1 and 5 years
115
15
21
8
After
5 years
47
81
475
168
429
68
91
475
Current
portion
within
I year
After
5 years
2
273
7
130
28
400
127
17
426
130
27
438
172
400
71
71
500
3
10
12
1
102
2
Other loans
Financing obligations3
Mortgages payable4
Total loans
935
(2)
1,869
3
247
9
Total
January 1,
2017
292
(1)
367
(2)
768
959
(4)
3,434
5
385
26
Total
January 3,
2016
334
(3)
1,144
3
397
9
20
(2)
1,053
million, unless otherwise stated
GBP 500 notes 6.50%, due 2017
USD 450 notes 6.50%, due 20172
EUR 400 notes 4.25%, due 20182
USD 300 notes 4.125%, due 20192
USD 94 indebtedness 7.82%, due 2020
EUR 400 notes 3.125%, due 20202
USD 71 indebtedness 8.62%, due 2025
USD 71 notes 8.05%, due 20272
USD 500 notes 6.875%, due 2029
USD 271 notes 9.00%, due 20312
JPY 33,000 notes LIBOR plus 1.5%, due 2031
USD 827 notes 5.70%, due 20402
Deferred financing costs
Total notes
Current
portion
within
1 year
292
Between
1 and 5 years
334
1 During 2005, the Company bought back GBP 250 million of the notes. The remaining notional redemption amount of GBP 250 million (€293 million) has been netted with €1 million as
per January 1, 2017 (January 3, 2016: €6 million), representing an amount, amortized over the remaining terms of the notes, that relates to a hedging instrument that stopped qualifying for
fair-value hedge accounting. The remaining notional amount of the GBP 250 million was swapped to U.S. dollar (see Note 30 for additional information).
2 Acquired through business combinations (refer to Note 4).
3 The weighted average interest rate for the financing obligations amounted to 7.6% in 2016 (2015: 7.6%).
4 Mortgages payable are collateralized by buildings and land. The weighted average interest rate for these mortgages payable amounted to 5.4% in 2016 (2015: 5.6%).
On November 15, 2016, Ahold Delhaize executed a buyback and cancellation of the outstanding principal amount of its JPY33 billion floating
rate notes, due May 2031 (“JPY notes”) and the unwinding of the associated yen euro cross currency interest rate swap for a total consideration
of €543 million. Together, the JPY notes and the swap represented a synthetic €299 million long-term liability at an annual interest rate of 7.065%
(see Note 30for additional information related to the JPY cross-currency swap). The buying back of the JPY notes resulted in a one-off finance
cost of €243 million, before tax. This cost included a €213 million release from equity to the income statement relating to the unwinding of the swap
for which hedge accounting was applied (refer to Note 9). The cost of buying back the JPY notes and unwinding the swap has been funded from
available cash.
Outstanding
notional
redemption
amount
January 1, 2017
25Ö
