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5. Interest-bearing Securities

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in thousands of EUR

2015

2014

 

 

 

 

 

 

Dutch Government bonds

119,800

269,800

Belgian Government bonds

285,600

336,144

Spanish Government bonds

332,300

289,000

United Kingdom Government bonds

87,733

97,093

Other bonds

864,535

718,588

 

 

 

 

 

 

 

1,689,968

1,710,625

 

 

 

The balance sheet value of the other bonds as at 31 December can be broken down as follows:

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in thousands of EUR

2015

2014

 

 

 

1)

These are Green/sustainable bonds of which the proceeds are invested by the issuer in areas such as sustainable energy, energy efficiency and microfinance.

 

 

 

Nederlandse Financieringsmaatschappij voor Ontwikkelingslanden (FMO) Sustainable bond (government guaranteed), The Netherlands1)

170,000

140,000

Instituto de Credito Oficial (government guaranteed), Spain

96,672

75,000

Climate Awareness bond European Investment Bank1)

61,780

55,000

Region Wallonne, Belgium

60,000

30,000

Sustainable energy bond Landwirtschaftliche Rentenbank
(government guaranteed), Germany1)

50,000

50,000

Regional Government, Spain

49,865

35,640

Nederlandse Financieringsmaatschappij voor Ontwikkelingslanden (FMO) (government guaranteed), The Netherlands

40,000

40,000

Nordic Investment Bank, Finland1)

40,000

40,000

Bank Nederlandse Gemeenten (BNG), The Netherlands

36,683

70,753

European Investment Bank

35,000

35,000

NRW Bank green bond (government guaranteed), Germany1)

34,560

15,000

Société Régionale Wallonne du Transport (goverment guaranteed), Belgium

30,000

15,000

La Communauté française de Belgique, Belgium

25,000

15,000

Aquafin NV, Belgium1)

20,000

Kreditanstalt für Wiederaufbau (government guaranteed) Germany1)

19,780

13,000

ABN AMRO Bank N.V., The Netherlands 1)

16,000

De Société Publique de Gestion de l'Eau (SPGE), Belgium

15,000

15,000

Nederlandse Waterschapsbank, The Netherlands

14,895

14,895

Nederlandse Waterschapsbank, The Netherlands1)

12,000

12,000

Bayern, Freistaat, Germany

10,800

10,800

Investitionsbank Berlin Anleihe, Germany

10,000

Provincie Vlaams-Brabant, Belgium

6,000

6,000

Brussels Region, Belgium

5,000

5,000

Societe Wallone du credit social (goverment guaranteed), Belgium

5,000

5,000

Ethias Vie, Belgium

500

500

Landwirtschaftliche Rentenbank, Germany

20,000

 

 

 

 

 

 

 

864,535

718,588

 

 

 

Part of the value of securities is used as collateral for a possible debit balance, amounting to EUR 45.5 million at the Dutch Central Bank (2014: EUR 50.0 million) and EUR 23.5 million at a bank in The Netherlands (2014: EUR 19.6 million). The security for drawn loans amounts to EUR 4.3 million (2014: EUR 8.3 million) at a bank in Spain.

In connection with differences between the acquisition prices and redemption values, as at 31 December 2015 an amount of EUR 39.8 million (2014: EUR 39.5 million) has been included under Prepayments and accrued income and an amount of EUR 1.5 million (2014: EUR 2.3 million) has been included under Accruals and deferred income.

As part of the interest rate risk management Triodos Bank entered into an interest rate swap to hedge the interest risk on a fixed interest rate bond. The critical terms of the interest rate swaps such as nominal amount, maturity date and interest payment dates fully match the terms of the respective bonds. The total notional value of these bonds is EUR 1,000 which equals the notional value of the interest rate swaps (EUR 1,000). The fair value of the interest rate swaps as at 31 december 2015 is EUR 0.1. Triodos Bank applies cost price hedge accounting on these interest rate swaps and therefore the fair value is not recognised on the balance sheet.

The movement in interest-bearing securities is as follows:

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in thousands of EUR

2015

2014

 

 

 

 

 

 

Balance sheet value as at 1 January

1,710,625

1,224,180

Purchase

1,036,128

1,061,750

Repayments

–1,061,934

–580,081

Sale

Exchange rate results on foreign currencies

5,149

4,776

 

 

 

 

 

 

Balance sheet value as at 31 December

1,689,968

1,710,625