IBERSOL | 2019 Annual Report

Consolidated Financial Statements 17. LOANS AND LEASE LIABILITIES 17.1 LOANS On 31 December 2019 and 2018, current and non-current loans were broken down as follows: Non-current Dec/2019 Dec/2018 Bank loans 16 763 367 25 061 268 Commercial paper programmes 58 000 000 53 000 000 Financial leasing - 1 121 056 74 763 367 79 182 324 Current Dec/2019 Dec/2018 Bank overdrafts 3 739 953 5 882 564 Bank loans 23 659 362 16 420 440 Commercial paper programmes 19 000 000 29 600 000 Financial Leasing - 1 058 444 46 399 315 52 961 448 Total loans 121 162 682 132 143 772 Average interest rate 2.7% 2.5% 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/2019 Dec/2018 From 1 to 2 years 28 421 835 28 782 805 From 2 to 5 years 46 241 284 48 835 503 > 5 years 100 248 442 960 74 763 367 78 061 268 Regardless of its ending stated period, for the subscribed commercial paper program- mes the Group considers the full repayment on its maturity date (the renewal date). 268