Debt

Last updated: (Wilh. Wilhelmsen Holding ASA)

The group funds its investments and operations from several capital sources, including the commercial bank loan market, financial leases, export financing and the Norwegian bond market.

Business activities are primarily financed over the balance sheet of the relevant subsidiary or joint venture. Most loan agreements entered into by group companies contain financial covenants in respect of the relevant borrowing company or group of companies. Financial covenants will normally include a mix of equity ratio, liquidity, current ratio and/or NIBD/EBITDA (net interest bearing debt / earning before interest, tax, depreciation and amortization).

Specification of interest bearing debt (USD mill)

Specification of interest-bearing debt 30.06.2016 30.06.2015 31.12.2015
Interest-bearing debt       
Morgages  997  1 007 1 049
Leasing commitments  158 82 0

Bonds

270 304 270 
Bank loan  354 353 341 
Total interest-bearing debt  1 779 1 746   1 660 
Repayment of schedule for interest-bearing debt 30.06.2016 30.06.2015 31.12.2015
Due in 2016  125 65 199 
Due in 2017   147 189  105 
Due in 2018   290 123  302 
Due in 2019   668 286  641 
Due in 2020 and later    549 1 082  414 
Total interst-bearing debt   1 779 1 746 1 660

 

Interest-bearing debt  31.03.201631.03.2015 31.12.2015 
Non current interest-bearing debt  731 675  640 
Current interest-bearing debt  67 87  69 
Total interest-bearing debt 797   762 708 
Cash and cash equivalents   294 828  262 
Net interst-bearing debt  504  480 446 

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