Hexagon Annual Report 2019

NOTE 4 RECEIVABLES AND LIABILITIES (NOK 1 000) 2019 2018 RECEIVABLES DUE FOR PAYMENT AFTER 1 YEAR Other non-current receivables 0 0 Loans to group companies 2 803 069 1 287 661 Total 2 803 069 1 287 661 SHORT-TERM LIABILITIES Liabilities to credit institutions 43 033 148 Total 43 033 148 Liabilities secured with collateral 0 0 (NOK 1 000) CURRENCY AMOUNT CARRYING AMOUNT INTEREST DURATION MATURITY Bond loan 2019/2023 ISIN NO0010846280 NOK 1 100 000 1 100 000 Nibor 3 month + 3.75% 4 years 15.03.2023 Bank loan 1) EUR 14 000 138 132 Euribor 3 month + margin 5 years 30.09.2021 Bank loan 1) USD 8 500 74 690 Libor USD 3 month + margin 5 years 30.09.2021 Amortized costs 2) -14 765 Total non-current interest- bearing liabilities 1 298 058 Cross-currency swap (NOK/ USD) 3) -44 859 Pay Libor USD 3 m + / Receive Nibor 3 m + 4 years 15.03.2023 Non-current receivables related to interest-bearing liabilities -44 859 Net non-current interest- bearing liabilities 1 253 199 LONG-TERM FINANCING 1) Relates to a loan financing facility which is a Senior Secured bilateral facility with DNB Bank. The overall size of the facility is NOK 1 billion, comprising a main multi-currency revolving credit and overdraft facility of NOK 600 million and an optional ancillary facility of NOK 400 million. 2) Costs associated with the loans are amortised over the duration of the loans using the effective interest method. 3) The company entered into a cross-currency swap to effectively convert the NOK denominated bond loan into USD. The fixed USD denominated balance on entering into the swap was USD 120.3 million. The swap has a term concurrent with the bond loan. The value of the swap as of 31 December 2019 was NOK 44 859 thousand. The bond loan is listed on the Oslo Stock Exchange. There are no breaches of the financial covenants under the financing agreements. 73 161 2019 AT A GLANCE FROM THE BOARD ROOM FINANCIAL STATEMENTS