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5. Interest-bearing Securities

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in thousands of EUR

2016

2015

 

 

 

 

 

 

Dutch Government bonds

104,800

119,800

Belgian Government bonds

260,600

285,600

Spanish Government bonds

301,100

332,300

United Kingdom Government bonds

91,035

87,733

Other bonds

961,251

864,535

 

 

 

 

 

 

 

1,718,786

1,689,968

 

 

The balance sheet value of interest bearing securities as at 31 December can be broken down as follows:

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2016

2016

2016

2016

2016

Issuer
in thousands of EUR

Listed

Non-listed

term of maturity less than a year

term of maturity more than a year

Of which Green bond1

 

 

 

 

 

 

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.

 

 

 

 

 

 

Public sector entities

 

 

 

 

 

Kingdom of Spain, government

301,100

66,100

235,000

Belgium, government

260,600

10,000

250,600

The Netherlands, government

104,800

22,300

82,500

Comunidad Autonoma de Madrid, Spain

92,240

3,675

88,565

European Investment Bank

91,716

91,716

66,716

United Kingdom, government

91,033

10,545

80,488

5,858

Instituto de Crédito Official (government guaranteed), Spain

84,384

68,500

15,884

25,000

Region Wallonne, Belgium

40,000

40,000

10,000

70,000

Nordic Investment Bank, Finland

40,000

40,000

40,000

La Commanauté Francaise de Belgique, Belgium

15,000

10,000

15,000

10,000

Xunta de Galicia, Spain

12,000

2,000

10,000

Junta de Castilla y Leon, Spain

10,000

10,000

Comunidad Autonoma de Aragon, Spain

7,300

7,300

Freistaat Bayern, Germany

3,300

3,300

Deutschsprachigen Gemeinschaft Belgiens, Belgium

20,000

20,000

Provincie Vlaams-Brabant, Belgium

6,000

6,000

Brussels Region, Belgium

5,000

5,000

 

 

 

 

 

 

 

 

 

 

 

 

Total public sector entities

1,153,473

81,000

218,720

1,015,753

137,574

 

 

 

 

 

 

Non-public sector entities

 

 

 

 

 

Nederlandse Financieringsmaatschappij voor Ontwikkelingslanden (FMO), The Netherlands

140,000

40,000

130,000

50,000

140,000

NRW Bank (government guaranteed), Germany

54,560

15,000

39,560

54,560

Landwirtschaftliche Rentenbank, Germany

50,000

50,000

50,000

Nederlandse Waterschapsbank, The Netherlands

26,895

26,895

12,000

ABN AMRO Bank N.V., The Netherlands

26,500

26,500

26,500

Coöperative Rabobank U.A., The Netherlands

25,000

25,000

25,000

Kreditanstalt für Wiederaufbau (government guaranteed), Germany

18,858

18,858

18,858

ING Bank N.V., The Netherlands

13,000

13,000

13,000

Investitionsbank Berlin, Germany

10,000

10,000

Bank Nederlandse Gemeenten (BNG), The Netherlands

6,000

6,000

Cofinimmo SA N.V., Belgium

5,000

5,000

5,000

Ethias Vie, Belgium

500

500

Société Régionale Wallonne du Transport (government guaranteed), Belgium

30,000

30,000

Aquafin NV, Belgium

18,000

2,000

16,000

18,000

Société Publique de Gestion de l'Eau SA, Belgium

15,000

15,000

Société Wallonne du Crédit Social (government guaranteed), Belgium

5,000

5,000

 

 

 

 

 

 

 

 

 

 

 

 

Total non-public sector entities

376,313

108,000

172,000

312,313

362,918

 

 

 

 

 

 

Total

1,529,786

189,000

390,720

1,328,066

500,492

 

 

 

 

 

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2015

2015

2015

2015

2015

Issuer
in thousands of EUR

Listed

Non-listed

term of maturity less than a year

term of maturity more than a year

Of which Green bond1

 

 

 

 

 

 

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.

 

 

 

 

 

 

Public sector entities

 

 

 

 

 

Kingdom of Spain, government

332,300

143,200

189,100

Belgium, government

285,600

25,000

260,600

The Netherlands, government

119,800

15,000

104,800

European Investment Bank

96,780

10,000

86,780

61,780

Instituto de Crédito Official (government guaranteed), Spain

96,672

44,172

52,500

25,000

United Kingdom, government

87,733

87,733

Region Wallonne, Belgium

40,000

20,000

60,000

Nordic Investment Bank, Finland

40,000

40,000

40,000

Comunidad Autonoma de Madrid, Spain

23,365

23,365

La Commanauté Francaise de Belgique, Belgium

15,000

10,000

25,000

Freistaat Bayern, Germany

10,800

7,500

3,300

Junta de Castilla y Leon, Spain

10,000

10,000

Xunta de Galicia, Spain

10,000

10,000

Comunidad Autonoma de Aragon, Spain

6,500

6,500

Provincie Vlaams-Brabant, Belgium

6,000

6,000

Brussels Region, Belgium

5,000

5,000

 

 

 

 

 

 

 

 

 

 

 

 

Total public sector entities

1,174,550

41,000

244,872

970,678

126,780

 

 

 

 

 

 

Non-public sector entities

 

 

 

 

 

Nederlandse Financieringsmaatschappij voor Ontwikkelingslanden (FMO), The Netherlands

170,000

40,000

30,000

180,000

170,000

Landwirtschaftliche Rentenbank, Germany

50,000

50,000

50,000

Bank Nederlandse Gemeenten (BNG), The Netherlands

36,683

30,683

6,000

NRW Bank (government guaranteed), Germany

34,560

34,560

34,560

Nederlandse Waterschapsbank, The Netherlands

26,895

26,895

12,000

Kreditanstalt für Wiederaufbau (government guaranteed), Germany

19,780

19,780

19,780

ABN AMRO Bank N.V., The Netherlands

16,000

16,000

16,000

Investitionsbank Berlin, Germany

10,000

10,000

Ethias Vie, Belgium

500

500

Société Régionale Wallonne du Transport (government guaranteed), Belgium

30,000

30,000

Aquafin NV, Belgium

20,000

2,000

18,000

20,000

Société Publique de Gestion de l'Eau SA, Belgium

15,000

15,000

Société Wallonne du Crédit Social (government guaranteed), Belgium

5,000

5,000

 

 

 

 

 

 

 

 

 

 

 

 

Total non-public sector entities

364,418

110,000

62,683

411,735

322,340

 

 

 

 

 

 

Total

1,538,968

151,000

307,555

1,382,413

449,120

 

 

 

 

 

Part of the value of securities is used as collateral for a possible debit balance, amounting to EUR 44.2 million at the Dutch Central Bank (2015: EUR 45.5 million) and EUR 22.8 million at a bank in The Netherlands (2015: EUR 23.5 million). The security for drawn loans amounts to EUR 6.0 million (2015: EUR 4.3 million) at a bank in Spain.

In connection with differences between the acquisition prices and redemption values, as at 31 December 2016 an amount of EUR 39.6 million (2015: EUR 39.8 million) has been included under Prepayments and accrued income and an amount of EUR 1.0 million (2015: EUR 1.5 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 41,975 thousand which equals the notional value of the interest rate swaps (2015: EUR 1,000 thousand). The fair value of the interest rate swaps as at 31 december 2016 is EUR 181.0 thousand (2015: EUR 0.1 thousand). 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

2016

2015

 

 

 

 

 

 

Balance sheet value as at 1 January

1,689,968

1,710,625

Purchase

469,955

1,036,128

Repayments

–400,362

–1,061,934

Sale

–27,000

Exchange rate results on foreign currencies

–13,775

5,149

 

 

 

 

 

 

Balance sheet value as at 31 December

1,718,786

1,689,968