| 31/12/2021 | 31/12/2020 | |||||||
|---|---|---|---|---|---|---|---|---|
| (in € millions) | Currency | Contractual interest rate |
Maturity | Capital remaining due |
Carrying amount |
of which accrued interest not matured |
Capital remaining due |
Carrying amount |
| Bonds I |
6,933 | 7,189 | 49 | 6,247 | 6,779 | |||
| of which: | ||||||||
| 2017 bond issue and supplement (*) | USD | 0.4% | February 2022 | 633 | 633 | 1 | 591 | 586 |
| 2018 bond issue | EUR | 1.0% | September 2025 | 750 | 768 | 2 | 750 | 786 |
| 2018 bond issue and supplement (*) | EUR | 1.8% | September 2030 | 1,100 | 1,182 | 5 | 1,100 | 1,246 |
| 2019 bond issue | GBP | 2.3% | March 2027 | 476 | 483 | 9 | 445 | 451 |
| 2018 bond issue | EUR | 1.6% | January 2029 | 950 | 998 | 15 | 950 | 1,040 |
| 2018 bond issue | USD | 3.8% | April 2029 | 883 | 946 | 7 | 815 | 929 |
| 2018 bond issue | GBP | 2.8% | September 2034 | 476 | 476 | 4 | 445 | 445 |
| 2020 green bond issue | EUR | 0.0% | November 2028 | 500 | 485 | - | 500 | 502 |
| 2021 bond issue | EUR | 0.5% | January 2032 | 750 | 730 | 2 | - | - |
| Other bank loans and other financial debt II |
- | - | - | 244 | 244 | |||
| Long-term financial debt I+II | 6,933 | 7,189 | 49 | 6,492 | 7,023 | |||
(*) Corresponding to non-dilutive convertible bonds.
At 31 December 2021, 59% of the Group’s long-term financial debt was denominated in euros, 27% in sterling and 8% in US dollars.
Most foreign-currency debts of companies of which the functional currency is the euro (mainly VINCI SA and ASF) were hedged at their time of issue and do not generate any exposure to exchange rate risk. Generally, the Group’s activities in foreign countries are financed in the local currency.
On the basis of interest rates at 31 December 2021, the Group’s debt and associated interest payments break down as follows, by maturity date:
| 31/12/2021 | ||||||
|---|---|---|---|---|---|---|
| (in € millions) | Carrying amount |
Capital and interest payments (*) |
Within 1 year |
Between 1 and 2 years |
Between 2 and 5 years |
After 5 years |
| Bonds | ||||||
| Capital | (24,952) | (23,828) | (2,395) | (896) | (4,777) | (15,760) |
| Interest payments | - | (4,884) | (579) | (503) | (1,288) | (2,514) |
| Other bank loans and other financial debt | ||||||
| Capital | (3,545) | (3,579) | (816) | (683) | (600) | (1,480) |
| Interest payments | - | (423) | (55) | (46) | (101) | (222) |
| Long-term financial debt | (28,497) | (32,715) | (3,844) | (2,129) | (6,766) | (19 976) |
| Commercial paper | (412) | (412) | (412) | - | - | - |
| Other current financial liabilities | (618) | (618) | (618) | - | - | - |
| Bank overdrafts | (876) | (876) | (876) | - | - | - |
| Financial current accounts – liabilities | (61) | (61) | (61) | - | - | - |
| Financial debt I | (30,465) | (34,682) | (5,812) | (2,129) | (6,766) | (19,976) |
| Financial assets II | 11,268 (**) | 11,268 | 11,268 | - | - | - |
| Derivative financial instruments – liabilities | (935) | (273) | (31) | (50) | (90) | (102) |
| Derivative financial instruments – assets | 866 | 1,248 | 239 | 177 | 439 | 393 |
| Derivative financial instruments III | (69) | 975 | 208 | 127 | 350 | 291 |
| Net financial debt I+II+III | (19,266) | - | - | - | - | - |
(*) For derivative financial instruments, amounts correspond solely to interest flows.
(**) Including €11.2 billion at less than three months, consisting mainly of €3.0 billion of cash equivalents and €8.0 billion of cash (see Note J.26.1, “Net cash managed”).
At 31 December 2021, the average maturity of the Group’s long-term financial debt was 7.3 years (7.7 years at 31 December 2020).
The average maturity was 7.5 years for the Concessions business, 3.3 years for VINCI Energies, 1.1 years for Cobra IS, 3.5 years for VINCI Construction, and 7 years for the holding companies and VINCI Immobilier.
