23 Borrowings
|
|
2022 |
||||
millions of CHF |
|
Non-current borrowings |
|
Current borrowings |
|
Total |
Balance as of January 1 |
|
238.9 |
|
16.3 |
|
255.3 |
Cash flow from proceeds |
|
– |
|
310.5 |
|
310.5 |
Cash flow for repayments |
|
–3.0 |
|
–161.6 |
|
–164.6 |
Changes in amortized costs |
|
1.0 |
|
– |
|
1.0 |
Reclassifications |
|
10.0 |
|
–10.0 |
|
– |
Currency translation differences |
|
–0.1 |
|
–0.1 |
|
–0.2 |
Total borrowings as of December 31 |
|
246.9 |
|
155.1 |
|
402.0 |
|
|
2021 |
||||
millions of CHF |
|
Non-current borrowings |
|
Current borrowings |
|
Total |
Balance as of January 1 |
|
239.5 |
|
46.5 |
|
286.0 |
Cash flow from proceeds |
|
265.2 |
|
107.6 |
|
372.8 |
Cash flow for repayments |
|
–255.1 |
|
–245.9 |
|
–501.0 |
Contribution from/to Sulzer group |
|
–1.4 |
|
97.8 |
|
96.4 |
Reclassifications |
|
–10.0 |
|
10.0 |
|
– |
Currency translation differences |
|
0.7 |
|
0.4 |
|
1.0 |
Total borrowings as of December 31 |
|
238.9 |
|
16.3 |
|
255.2 |
In 2021, the group arranged two committed syndicated credit facilities (A and B) for a total amount of CHF 400.0 million, both maturing in September 2027. The credit facilities include two one-year extension options (subject to lenders’ approval), of which the first extension option has been selected by the group and approved by the lenders.
- Facility A: Syndicated term loan for an amount of CHF 250.0 million. As of December 31, 2022 and 2021, the facility was fully utilized. The semi-annual instalments of CHF 10.0 million have been cancelled on request of the group by unanimous consent from the lenders, the full amount for facility A is available until September 2027.
- Facility B: Syndicated revolving credit facility for an amount of CHF 150.0 million. The credit facility can be drawn until one month before maturity and includes a further option to increase the credit facility by CHF 75.0 million (subject to lenders’ approval). As of December 31, 2022 the facility was fully utilized, and as of December 31, 2021, the facility was not used.
Borrowings by currency
|
|
2022 |
||||
|
|
millions of CHF |
|
in % |
|
Interest rate |
CHF |
|
400.7 |
|
99.7 |
|
1.4% |
EUR |
|
1.2 |
|
0.3 |
|
1.8% |
USD |
|
0.1 |
|
0.0 |
|
0.9% |
Total as of December 31 |
|
402.0 |
|
100.0 |
|
– |
|
|
2021 |
||||
|
|
millions of CHF |
|
in % |
|
Interest rate |
CHF |
|
246.9 |
|
96.7 |
|
1.0% |
EUR |
|
8.0 |
|
3.1 |
|
0.3% |
GBP |
|
0.4 |
|
0.1 |
|
1.0% |
USD |
|
0.0 |
|
0.0 |
|
0.9% |
Total as of December 31 |
|
255.2 |
|
100.0 |
|
– |