Ibersol • Annual Report and Consolidated Accounts 2014 - page 197

Annual Report and Consolidated Accounts 2014 197
16. LOANS
On 31 December 2014 and 2013, current and non-current loans were broken down as follows:
Non-current Dec. 2014 Dec. 2013
Bank loans 15.278.060 6.417.821
Commercial paper programmes 8.750.000 17.000.000
Financial leasing - -
24.028.060 23.417.821
Current Dec. 2014 Dec. 2013
Bank overdrafts 95.169 685.514
Bank loans 3.741.568 15.223.159
Commercial paper programmes 10.750.000 7.000.000
Derivative financial instrument 217.020 138.195
Financial Leasing - 61.483
14.803.757 23.108.351
Total loans 38.831.817 46.526.172
Average interest rate 4,3% 5,0%
There are no significant differences between the balance sheet amounts and fair value of current and non-
current loans.
The maturities of non-current bank loans are broken down as follows:
Dec. 2014 Dec. 2013
From 1 to 2 years 10.110.558 9.193.824
From 2 to 5 years 13.902.757 13.664.193
> 5 years 14.746 559.804
24.028.060 23.417.821
Regardless of its ending stated period, for the subscribed commercial paper programmes the Group considers
the full repayment on its maturity date (the renewal date).