As of June 30, 2019, Company’s bank loans and notes payable are as follows:


	At June 30, ⁽¹⁾
(in millions of Mexican pesos)	2020			2021		2022		2023		2024		2025 and Thereafter		Carrying value at June 30, 2019			Fair value at June 30, 2019		Carrying value at December 31, 2018⁽¹⁾
Short-term debt:
Fixed rate debt:
Colombian pesos
Bank loans		Ps. 185			Ps. —		Ps. —		Ps. —		Ps. —		Ps. —		Ps. 185			Ps. 185		Ps. —
Interest rate		6.2	%		—		—		—		—		—		6.2	%		—		—
Argentine pesos
Bank loans		181			—		—		—		—		—		181			181		157
Interest rate		63.5	%		—		—		—		—		—		63.5	%		—		36.8	%
Chilean pesos
Bank loans		1,267			—		—		—		—		—		1,241			1,267		594
Interest rate		3.2	%		—		—		—		—		—		3.1	%		—		3.2	%
U.S. dollars
Bank loans		799			—		—		—		—		—		799			799		10
Interest rate		7.5	%		—		—		—		—		—		7.5	%		—		3.3	%
Uruguayan pesos
Bank loans		706			—		—		—		—		—		706			706		771


Interest rate		9.9	%		—		—		—		—		—		9.9	%		—		10	%
Variable rate debt:
Mexican pesos
Bank loans		100			—		—		—		—		—		100			100		450
Interest rate		8.9	%		—		—		—		—		—		8.9	%		—		9.2	%
Colombian pesos
Bank loans		583			—		—		—		—		—		583			583		454
Interest rate		5.8	%		—		—		—		—		—		5.8	%		—		5.6	%
Argentine pesos
Bank loans		45			—		—		—		—		—		45			45		—
Interest rate		73.7	%		—		—		—		—		—		73.7	%		—		—

Total short-term debt	Ps.	3,866		Ps.	—	Ps.	—	Ps.	—	Ps.	—	Ps.	—	Ps.	3,866		Ps.	3,866	Ps.	2,436


(in millions of Mexican pesos)	2020			2021			2022			2023			2024			2025 and Thereafter			Carrying value at June 30, 2019			Fair value at June 30, 2019		Carrying value at December 31, 2018⁽¹⁾
Long-term debt:
Fixed rate debt:
Euro
Senior unsecured notes		Ps. —			Ps. —			Ps. —			Ps. 21,776			Ps. —			Ps. —			Ps. 21,776			Ps. 23,115		Ps. 22,439
Interest rate		—			—						1.7	%		—			—			1.7	%		—		1.7	%
U.S. dollars
Yankee bond		9,577			—			—			—			17,112			11,509			38,198			41,715		39,203
Interest rate		4.6	%		—			—			—			3.9	%		5.3	%		4.5	%		—		4.5	%
U.S. dollars Promissory Note		4,531			—			—			—			—			—			4,531			4,531		4,652
Interest rate ⁽¹⁾		0.4	%		—			—			—			—			—			0.4	%		—		0.4	%
Bank of NY (FEMSA USD 2023)		—			—			—			5,701			—			—			5,701			5,745		5,849
Interest rate ⁽¹⁾		—			—			—			2.9	%		—			—			2.9	%		—		2.9	%
Bank of NY (FEMSA USD 2043)		—			—			—			—			—			13,160			13,160			14,551		13,504
Interest rate ⁽¹⁾		—			—			—			—			—			4.4	%		4.4	%		—		4.4	%
Bank loans		4			398			212			210			130			—			954			954		7
Interest rate ⁽¹⁾		—			7.5	%		7.5	%		7.6	%		8.0	%		—			7.6	%		—		3.7	%
Mexican pesos
Domestic senior notes		—			2,499			—			7,496			—			8,488			18,483			17,832		18,481
Interest rate		—			8.3	%		—			5.5	%		—			7.9	%		6.9	%		—		6.9	%
Bank loans		49			47			19			17			7			—			139			139		79
Interest rate		8.2	%		8.3	%		11.0	%		11.0	%		11.0	%		—			9.1	%		—		6.4	%
Brazilian reais
Bank loans		158			94			65			55			22			21			415			415		545
Interest rate		5.8	%		6.0	%		6.0	%		6.1	%		6.5	%		6.6	%		6.0	%		—		6.0	%
Chilean pesos
Bank loans		—			34			—			—			—			—			34			34		74
Interest rate		—			3.4	%		—			—			—			—			3.4	%		—		3.5	%
Uruguayan pesos
Bank loans		—			514			—			—			—			—			514			514		573
Interest rate		—			10.2	%		—			—			—			—			10.2	%		—		10.2	%

Subtotal	Ps.	14,319		Ps.	3,586			Ps. 296			Ps. 35,255		Ps.	17,271		Ps.	33,178		Ps.	103,905		Ps.	109,545	Ps.	105,406

(1)	All interest rates shown in this table are weighted average contractual annual rates.


(in millions of Mexican pesos)	2020			2021			2022			2023			2024			2025 and Thereafter		Carrying value at June 30, 2019			Fair value at June 30, 2019		Carrying value at December 31, 2018⁽¹⁾
Variable rate debt:
U.S. dollars
Bank loans	Ps.	—		Ps.	—		Ps.	3,921		Ps.	—		Ps.	—		Ps.	—	Ps.	3,921		Ps.	3,921	Ps.	4,025
Interest rate ⁽¹⁾		—			—			3.3	%		—			—			—		3.3	%		—		3.3	%
Mexican pesos
Domestic senior notes		—			—			1,497			—			—			—		1,497			1,353		1,497
Interest rate ⁽¹⁾		—			—			8.7	%		—			—			—		8.7	%		—		8.6	%
Bank Loans		244			5,488			67			23			—			—		5,822			5,822		10,732
Interest rate ⁽¹⁾		9.8	%		8.8	%		10.0	%		10.1	%		10.6	%		—		8.9	%		—		8.6	%
Brazilian reais																	—
Bank loans		240			127			29			—			—			—		397			397		505
Interest rate		8.6	%		9.0	%		9.7	%		9.4	%		—			—		8.8	%		—		9.5	%
Notes payable		1			—			—			—			—			—		1			1		5
Interest rate		0.4	%		—			—			—			—			—		0.4	%		—		0.4	%
Colombian pesos														—			—
Bank loans		837			16			13			3			—			—		869			869		848
Interest rate		5.5	%		6.8	%		6.8	%		7.4	%		—			—		5.6	%		—		5.7	%
Chilean pesos														—			—
Bank loans		853			884			492			753			—			—		2,982			2,983		3,211
Interest rate		5.3	%		5.7	%		4.3	%		4.2	%		—			—		5.0	%		—		4.1	%

Subtotal	Ps.	2,175		Ps.	6,515		Ps.	6,019		Ps.	779		Ps.	—		Ps.	—	Ps.	15,489		Ps.	15,346	Ps.	20,822

Total long-term debt	Ps.	16,494		Ps.	10,101		Ps.	6,315		Ps.	36,034		Ps.	17,271		Ps.	33,178	Ps.	119,394		Ps.	124,891	Ps.	126,228

Current portion of long term debt																			(16,494	)				(11,238	)

																		Ps.	102,900				Ps.	114,990

(1)	All interest rates shown in this table are weighted average contractual annual rates.

(2)

Promissory note denominated and payable in Brazilian reais; however, it is linked to the performance of the exchange rate between the Brazilian real and the U.S. dollar. As a result, the principal amount under the promissory note may be increased or reduced based on the depreciation or appreciation of the Brazilian real relative to the U.S. dollar.