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5 Financial liabilities


In CHF million
  Carrying
amount
1.1.2019
 

Issuance
 

Repayment
 

Other changes a
  Carrying
amount
30.6.2019
 

Fair Value b
                         
Financial liabilities
Bank loans   1,233   647   (34)   (27)   1,819   1,851 2
Debenture bonds   5,554   280     49   5,883   6,194 1
Private placements   426       1   427   434 2
Derivative financial instruments   54       25   79   79 2
Other financial liabilities   594   30   (241)   (27)   356   356 2
Total financial liabilities   7,861   957   (275)   21   8,564   8,914
                         
Lease liabilities
Lease liabilities   1,698     (132)   189   1,755   1,997 2
a Interest expense, interest payments, non-cash changes in lease liabilities and foreign currency translation adjustments.
b Hierarchical levels 1–3 for measuring the fair value.

In the first quarter of 2019, Swisscom issued a debenture bond for CHF 200 million. It has a coupon of 0.5% and matures in 2029. In addition, in May 2019 Swisscom increased a debenture bond by CHF 80 million. The bond was issued in 2017. It has a coupon of 0.75% and matures in 2033. The financing thus received was applied to repay existing debts. As at 30 June 2019, Swisscom also had short-term bank loans on a weekly and monthly basis.

Repayment of other liabilities includes the purchase price of CHF 240 million paid to Tamedia for the acquisition of the outstanding share of 31% in Swisscom Directories Ltd. In the cash flow statement this payment is reported under the line item “Acquisition of subsidiaries, net of cash and cash equivalents acquired”.