23. Borrowings
Non-current borrowings
Balance sheet value | Effective interest % | Average term in years | ||||
As at 31-12-2021 | As at 31-12-2020 | As at 31-12-2021 | As at 31-12-2020 | As at 31-12-2021 | As at 31-12-2020 | |
Private placement | 259.7 | 239.5 | 2.84 | 2.88 | 5.4 | 6.4 |
Subordinated loan | 99.4 | 1.89 | 6.6 | |||
Total | 359.1 | 239.5 | ||||
Weighted average | 2.57 | 2.88 | 5.7 | 6.4 | ||
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 (€ 126.3 million) and after five years (€ 232.8 million).
Fair value of the main long-term loans
Balance sheet value as at 31-12-2021 | Fair value as at 31-12-2021 | Balance sheet value as at 31-12-2020 | Fair value as at 31-12-2020 | |
Private placement | 259.7 | 259.1 | 239.5 | 249.5 |
Subordinated loan | 99.4 | 99.8 |
Current borrowings
Balance sheet value | Effective interest % | |||
As at 31-12-2021 | As at 31-12-2020 | As at 31-12-2021 | As at 31-12-2020 | |
Owed to credit institutions | 74.7 | 42.4 | 0.73 | 0.73 |
Total | 74.7 | 42.4 | ||
Weighted average | 0.73 | 0.73 | ||