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Annual report 2018  /  Financial Statements  /  TVO Group financial statements  /  Notes to the consolidated financial statements  /  22 Interest-bearing liabilities

22 Interest-bearing liabilities

EUR 1 00020182017
Non-current interest-bearing liabilities

Loan from the Finnish State Nuclear Waste Management Fund666 242655 518
Bonds2 582 5562 525 834
Loans from financial institutions867 602745 428
Loans from others148 033144 536
Finance leasing liabilities52 30654 033
Derivative financial instruments30 25224 360
Total4 346 9914 149 709

Current interest-bearing liabilities

Current portion of long-term bonds 251 958203 211
Current portion of loans from financial institutions44 41394 413
Current portion of Private Placements093 198
Current portion of finance lease liabilities1 7261 718
Other interest-bearing liabilities (Commercial paper program)161 4160
Derivative financial instrumentsininenviivas70635 934
Total460 219428 474



Total4 807 2104 578 183
 
TVO has issued EUR-, USD-, GBP-, and SEK-denominated Private Placements amounting to EUR 984.2 million. The Placements in foreign currency are treated as EUR floating or fixed rate loans that are adjusted at the closing date with ECB fixing rate. The Private Placements have been swapped by using cross-currency swaps. In 2018, the effect of foreign exchange hedges was positive amounting to EUR 16.7 million and correspondingly, the effect of foreign currency denominated loans was negative amounting to EUR 16.7 million.

Maturity period of finance lease liabilities
EUR 1 00020182017
Finance lease liabilities - minimum lease payments

No later than 1 year1 7351 725
Later than 1 year and no later than 5 years7 0286 984
Over 5 years45 32747 090
Total54 09055 799

Finance expenses to be accrued
58
49

Finance lease liabilities - current value of minimum rents

No later than 1 year1 7261 718
Later than 1 year and no later than 5 years6 9926 957
Over 5 years45 31447 075
Total54 03255 750

The finance lease liabilities of the Group comprise the lease agreement of spare parts of the nuclear power plant.

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