Debt

Last updated: (Wilh. Wilhelmsen Holding ASA)

The group funds its investments and operations from several capital sources, including the commercial bank loan market, financial leases, export financing and the Norwegian bond market.

Business activities are primarily financed over the balance sheet of the relevant subsidiary or joint venture. Most loan agreements entered into by group companies contain financial covenants in respect of the relevant borrowing company or group of companies. Financial covenants will normally include a mix of equity ratio, liquidity, current ratio and/or NIBD/EBITDA (net interest bearing debt / earning before interest, tax, depreciation and amortization).

Specification of interest bearing debt (USD mill)

Specification of interest-bearing debt 31.03.2017 31.03.2016 31.12.2016
Interest-bearing debt       
Morgages   836   1 027  886
Leasing commitments   235  0  239

Bonds

 196  273  196 
Bank loan   203  337  213 
Total interest-bearing debt  1 470  1 637    1 533 
Repayment of schedule for interest-bearing debt 31.03.2017 31.03.2016 31.12.2016
Due in 2016    164  
Due in 2017  88  142  115
Due in 2018   322  285   325 
Due in 2019   453  632  486 
Due in 2020   83  0  83 
Due in 2021 and later    524  413   523 
Total interst-bearing debt   1 470  1 533  1 533

 

Interest-bearing debt  31.03.201731.03.2016 31.12.2016 
Non current interest-bearing debt  1 357  1 450   1 418 
Current interest-bearing debt  112  187   115 
Total interest-bearing debt  1 469   1 637  1 533 
Cash and cash equivalents   328  272   296 
Net interst-bearing debt  905  1 026  953