22. Borrowings
Non-current borrowings
Balance sheet value | Effective interest % | Average term in years | ||||
As at 31-12-2023 | As at 31-12-2022 | As at 31-12-2023 | As at 31-12-2022 | As at 31-12-2023 | As at 31-12-2022 | |
Private placement | 265.0 | 276.5 | 2.72 | 2.79 | 3.4 | 4.4 |
Subordinated loan | 99.6 | 99.5 | 1.99 | 1.98 | 4.6 | 5.6 |
Total | 364.6 | 376.0 | ||||
Weighted average | 2.47 | 2.54 | 3.7 | 4.7 | ||
The weighted average term has been calculated on the basis of the remaining terms of the individual loans.
Repayments on the above amounts are due within five years (€ 288.5 million) and after five years (€ 76.1 million).
Fair value of the main long-term loans
Balance sheet value as at 31-12-2023 | Fair value as at 31-12-2023 | Balance sheet value as at 31-12-2022 | Fair value as at 31-12-2022 | |
Private placement | 265.0 | 240.5 | 276.5 | 245.2 |
Subordinated loan | 99.6 | 87.8 | 99.5 | 84.7 |
Current borrowings
Balance sheet value | Effective interest % | |||
As at 31-12-2023 | As at 31-12-2022 | As at 31-12-2023 | As at 31-12-2022 | |
Owed to credit institutions | 356.0 | 309.7 | 5.43 | 2.86 |
Total | 356.0 | 309.7 | ||