19 Long-term borrowings

19 Long-term borrowings
CHF million 31 Dec 2008 31 Dec 2009
Bonds at the amount repayable 1,163 2,604
Loans payable 1,018 2,520
Total 2,181 5,124
     

Bonds outstanding at the reporting date

Bonds outstanding at the reporting date
CHF million Term Earliest redemption date Effective interest rate % Carrying amount at 31 Dec 2008 Carrying amount at 31 Dec 2009
1 Bonds recognised in short-term borrowings at the reporting date on 31 December 2008.
2 Both bond issues are measured at face value, which approximates their amortised cost. As a result, the reported nominal and effective interest rates are identical.
Alpiq Holding Ltd. CHF 200 million face value, 3 % fixed rate 2009 / 2014 10 Feb 2014 3.201 – 198
Alpiq Holding Ltd. CHF 25 million face value, 3 3/8 % fixed rate 2008 / 2014 30 Oct 2014 3.559 25 25
Alpiq Holding Ltd. CHF 150 million face value, 3 3/8 % fixed rate 2008 / 2014 30 Oct 2014 3.600 148 149
Alpiq Holding Ltd. CHF 250 million face value, 3 1/4 % fixed rate 2009 / 2015 3 Jul 2015 3.447 – 248
Alpiq Holding Ltd. CHF 250 million face value, 4 % fixed rate 2009 / 2017 10 Feb 2017 4.174 – 247
Alpiq Holding Ltd. CHF 160 million face value, 3 7/8 % fixed rate 2008 / 2018 30 Oct 2018 4.022 158 158
Alpiq Holding Ltd. CHF 40 million face value, 3 7/8 % fixed rate 2008 / 2018 30 Oct 2018 4.020 40 40
Alpiq Holding Ltd. CHF 500 million face value, 3 % fixed rate 2009 / 2019 25 Nov 2019 3.181 – 492
Alpiq Ltd. CHF 200 million face value, 4 1/4 % fixed rate 1, 2 1997 / 2009 6 Mar 2009 4.250 200 –
Alpiq Ltd. CHF 300 million face value, 3 1/8 % fixed rate 2 2003 / 2013 16 Sep 2013 3.125 300 300
Alpiq Ltd. CHF 250 million face value, 3 1/4 % fixed rate 2008 / 2015 31 Mar 2015 3.547 246 247
Alpiq Ltd. CHF 250 million face value, 2 5/8 % fixed rate 2006 / 2018 1 Mar 2018 2.790 246 246
Alpiq Suisse SA CHF 125 million face value, 2 7/8 % fixed rate 2006 / 2014 30 Sep 2014 3.120 – 124
Emosson SA CHF 130 million face value, 2 1/4 % fixed rate 2005 / 2017 26 Oct 2017 2.250 – 130
           

The market value of fixed rate bonds outstanding at the reporting date was CHF2,762 million (2008: CHF1,398million). The weighted interest rate on bonds issued at the reporting date, relative to face value, was 3.17 % (2008: 3.36%).

Loans payable

Loans payable
CHF million 31 Dec 2008 31 Dec 2009
Maturing between 1 and 5 years 798 2,074
Maturing in more than 5 years 220 446
Total 1,018 2,520
     

The market value of loans payable was CHF2,522 million at the reporting date (2008: CHF1,026million). The weighted interest rate on loans payable at the reporting date, relative to nominal value, was 2.88 % (2008: 3.63%). Loans of CHF388 million maturing within 360 days are recorded as short-term borrowings at the reporting date on 31 December 2009 (31 December 2008: CHF163million).