JOTUN GROUP
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Maturity profile interest-bearing debt and unutilised credit facilities
The maturity profiles of Jotun Group’s interest-bearing debt and unutilised committed credit facilities are shown in the table below.
(NOK THOUSAND) Total < 1 year 1 year 2 years 3 years 4 years > 4 years
Gross interest-bearing debt
31.12.2018 3 632 169 1 379 401 180 919 560 767 660 767 238 411 611 905
31.12.2017 3 153 464 1 109 173 804 107 152 000 552 000 152 000 384 184
Unutilised credit facilities
31.12.2018 1 300 000 – – 600 000 – 600 000 100 000
31.12.2017 900 000 – 400 000 – 400 000 – 100 000
Non-current interest-bearing debt by currency
The table below displays the distribution of Jotun Group’s non-current interest-bearing debt per currency.
(NOK THOUSAND) 31.12.2018 31.12.2017
Currency Currency
amount NOK amount NOK
NOK 1 400 000 1 400 000 1 000 000 1 000 000
USD 83 264 723 274 106 868 877 069
EGP 160 000 77 645 – –
BRL 12 820 28 698 24 198 59 959
OMR – – 2 855 103 498
Other – 23 152 – 3 765
Total – 2 252 768 – 2 044 291
Financial covenants
The loan covenants in the Group’s credit facility of NOK 1 200 million and the NIB bank loan are linked, among other, to the Group’s
equity ratio (equity / total assets) and the leverage ratio (net interest-bearing debt / EBITDA). There are no financial covenants related to
the bonds for the Group or for Jotun A/S. The following financial covenants apply:
(NOK THOUSAND) Required level (covenant) Status year end 2018
Equity ratio Minimum 25 % 51 %
Net debt/EBITDA Maximum 4.0 1.3
17 Other current liabilities
(NOK THOUSAND) 31.12.2018 31.12.2017
Public charges and holiday pay 280 965 282 903
Received dividend from associated companies or joint ventures * 277 800 356 826
Other accrued expenses ** 1 046 183 940 059
Total current provisions, ref. note 11 514 924 323 545
Total 2 119 873 1 903 333
* Received interim dividend from associated companies or joint ventures, prior to approval by the General Assembly.
** Other accrued expenses are related to agent commissions, sales, marketing, bonuses to employees and other accrued expenses.