| non-inclus | 31/12/2023 | 31/12/2022 | ||||||
|---|---|---|---|---|---|---|---|---|
| (in € millions) | Currency | Contractual interest rate | Maturity | Capital remaining due | Carrying amount | of which accrued interest not matured | Capital remaining due | Carrying amount |
| Bonds, of which: | 7,759 | 7,268 | 64 | 6,866 | 6,000 | |||
| 2018 bond issue | EUR | 1.0% | September 2025 | 750 | 722 | 2 | 750 | 697 |
| 2018 bond issue and supplement | EUR | 1.8% | September 2030 | 1,100 | 1,012 | 5 | 1,100 | 944 |
| 2019 bond issue | GBP | 2.3% | March 2027 | 460 | 467 | 8 | 451 | 457 |
| 2019 bond issue | EUR | 1.6% | January 2029 | 950 | 886 | 15 | 950 | 833 |
| 2019 bond issue | USD | 3.8% | April 2029 | 905 | 852 | 8 | 938 | 867 |
| 2019 bond issue | GBP | 2.8% | September 2034 | 460 | 461 | 4 | 451 | 451 |
| 2020 green bond issue | EUR | 0.0% | November 2028 | 500 | 439 | - | 500 | 408 |
| 2021 bond issue | EUR | 0.5% | January 2032 | 750 | 622 | 4 | 750 | 568 |
| 2022 bond issue | EUR | 3.4% | October 2032 | 825 | 845 | 6 | 650 | 632 |
| 2023 bond issue | EUR | 3.4% | February 2025 | 500 | 511 | 11 | - | - |
| 2023 bond issue | EUR | Eur3M | January 2026 | 300 | 300 | 1 | - | - |
| Long-term financial debt | 7,759 | 7,268 | 64 | 6,866 | 6,000 | |||
Breakdown of long-term financial debt by currency
At 31 December 2023, 64% of the Group’s long-term financial debt was denominated in euros, 18% in sterling and 6% 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 2023, the Group’s debt and associated interest payments break down as follows, by maturity date:
| non-inclus | 31/12/2023 | |||||
|---|---|---|---|---|---|---|
| (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 | (23,421) | (23,993) | (1,073) | (2,092) | (7,255) | (13,574) |
| Interest payments | - | (4,767) | (636) | (593) | (1,413) | (2,124) |
| Other bank loans and other financial debt | ||||||
| Capital | (4,367) | (4,426) | (564) | (701) | (1,233) | (1,928) |
| Interest payments | - | (2,230) | (290) | (244) | (532) | (1,164) |
| Long-term financial debt | (27,788) | (35,416) | (2,563) | (3631) | (10,432) | (18,790) |
| Commercial paper | (460) | (460) | (460) | - | - | - |
| Other current financial liabilities | (1,537) | (1,537) | (1,537) | - | - | - |
| Bank overdrafts | (927) | (927) | (927) | - | - | - |
| Financial current accounts - liabilities | (76) | (76) | (76) | - | - | - |
| Financial debt I | (30,789) | (38,416) | (5,563) | (3,631) | (10,432) | (18,790) |
| Financial assets II | 16,177 (**) | 16,177 | 16,177 | - | - | - |
| Derivative financial instruments - liabilities | (1,733) | (2,389) | (445) | (396) | (1,085) | (464) |
| Derivative financial instruments - assets | 218 | (107) | (6) | 4 | (41) | (64) |
| Derivative financial instruments III | (1,515) | (2,496) | (450) | (392) | (1,126) | (528) |
| Net financial debt I+II+III | (16,126) | |||||
(*) For derivative financial instruments, amounts correspond solely to interest flows.
(**) Including €16.0 billion at less than three months, consisting mainly of €6.8 billion of cash equivalents and €8.8 billion of cash (see Note J.26.1, “Net cash managed”).
At 31 December 2023, the average maturity of the Group’s long-term financial debt was 6.4 years (6.9 years at 31 December 2022). The average maturity was 6.9 years for Concessions, 3.4 years for VINCI Energies, 2.6 years for Cobra IS, 3.8 years for VINCI Construction, and 5.7 years for the holding companies and VINCI Immobilier.
