5 Financial liabilities
In CHF million |
Carrying amount 1.1.2019 |
Issuance |
Repayment |
Other changes a |
Carrying amount 30.6.2019 |
Fair Value b |
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| 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 | ||||||
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a Interest expense, interest payments, non-cash changes in lease liabilities and foreign currency translation adjustments.
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b Hierarchical levels 1–3 for measuring the fair value.
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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”.