3.4 Financial liabilities

CHF million

Bonds

Loans payable

Lease liabilities

Total

Non-current financial liabilities at 1 January 2023

709

331

35

1,075

Current financial liabilities at 1 January 2023

141

379

6

526

Financial liabilities at 1 January 2023

850

710

41

1,601

Proceeds from financial liabilities 1

375

163

4

542

Repayment of financial liabilities

– 140

– 388

– 7

– 535

Unwinding of discount

 

1

 

1

Reclassified to “Liabilities held for sale”

 

 

– 1

– 1

Currency translation differences

 

– 10

– 2

– 12

Financial liabilities at 31 December 2023

1,085

476

35

1,596

Non-current financial liabilities at 31 December 2023

825

337

30

1,192

Current financial liabilities at 31 December 2023

260

139

5

404

1 Lease liabilities in amount of CHF 4 million not cash effective.

CHF million

Bonds

Loans payable

Lease liabilities

Total

Non-current financial liabilities at 1 January 2022

400

189

38

627

Current financial liabilities at 1 January 2022

275

665

6

946

Financial liabilities at 1 January 2022

675

854

44

1,573

Acquisition / disposal of subsidiaries

 

 

– 1

– 1

Proceeds from financial liabilities 1

450

2,259

8

2,717

Repayment of financial liabilities

– 275

– 2,396

– 8

– 2,679

Unwinding of discount

 

 

2

2

Adjustment of lease agreements

 

 

– 2

– 2

Other changes

 

– 1

 

– 1

Currency translation differences

 

– 6

– 2

– 8

Financial liabilities at 31 December 2022

850

710

41

1,601

Non-current financial liabilities at 31 December 2022

709

331

35

1,075

Current financial liabilities at 31 December 2022

141

379

6

526

1 Lease liabilities in amount of CHF 8 million not cash effective.

Bonds outstanding at the reporting date

CHF million

Maturity

Earliest repayment date

Effective interest rate %

Carrying amount at 31 Dec 2023

Carrying amount at 31 Dec 2022

 

 

 

 

 

 

Alpiq Holding Ltd. CHF 141 million nominal amount, 2.13% fixed rate

2015 / 2023

30 Jun 2023

2.12

 

141

Alpiq Holding Ltd. CHF 260 million nominal amount, 2.63% fixed rate

2014 / 2024

29 Jul 2024

2.71

260

259

Alpiq Holding Ltd. CHF 200 million nominal amount, 1.63% fixed rate

2022 / 2025

30 May 2025

1.69

200

200

Alpiq Holding Ltd. CHF 250 million nominal amount, 1.75% fixed rate

2022 / 2026

24 Jun 2026

1.63

250

250

Alpiq Holding AG CHF 220 million nominal amount, 3.13% fixed rate

2023 / 2027

29 Apr 2027

3.03

220

 

Alpiq Holding AG CHF 155 million nominal amount, 3.38% fixed rate

2023 / 2030

29 Apr 2030

3.32

155

 

The weighted interest rate on the bonds issued and listed on the SIX Swiss Exchange based on the nominal value at the reporting date is 2.43% (previous year: 2.04%), and that on the loans payable is 2.61% (2.25%). The latter also includes project financing denominated in euros. The weighted average interest rate of the bonds and the loans payable is 2.48% (2.11%).

Accounting policies

The accounting policies for financial liabilities are disclosed in note 3.2 and note 3.5.