XML 38 R20.htm IDEA: XBRL DOCUMENT v3.19.1
EFFECTIVE INTEREST RATE, OUTSTANDING MORTGAGE DEBT AND BANK LOANS
 12 Months Ended
Dec. 31, 2018
Disclosure Of Effective Interest Rate, Outstanding Mortgage Debt And Bank Loans [Abstract]  
EFFECTIVE INTEREST RATE, OUTSTANDING MORTGAGE DEBT AND BANK LOANS

NOTE 14 - EFFECTIVE INTEREST RATE, OUTSTANDING MORTGAGE DEBT AND BANK LOANS

 

As of 31 December 2018, no drawdowns had been made on the Working Capital Facility, the ABN Facility or the DSF Facility 4.

 

Please refer to note 2 for further information on the Company’s liquidity and capital resources and note 19 and 20 for further information on interest rate swaps and financial risks.

 

The table below shows the effective interest and the value of the outstanding mortgage debt and bank loans.

 

        2018   2017   2016
USDm   Fixed/
floating		   Maturity   Effective
interest1)		     Carrying
value2)		     Maturity   Effective
interest1)		     Carrying
value2)		     Maturity   Effective
interest1)		     Carrying
value2)		  
LOAN                                                                
DSF Facility 1 (USD)   Floating   2021     5.6 %     64.1     2021     5.4 %     74.2     2019     4.6 %     109.4  
TFA Facility 1 (USD)   Floating   2021     6.0 %     331.3     2021     5.0 %     400.8     2021     4.6 %     470.0  
DSF Facility 2 (USD)   Floating   2021     5.6 %     52.4     2021     5.0 %     56.5     2021     4.6 %     62.2  
DSF Facility 3 (USD)   Floating   2022     5.6 %     24.3     2022     5.1 %     26.8     2022     4.8 %     30.0  
TFA Facility 2 (USD)   Floating   2022     5.4 %     103.7     2022     5.4 %     115.0     N/A     N/A       -  
ING (USD)   Floating   2024     4.6 %     42.0     2024     4.6 %     45.8     N/A     N/A       -  
CEXIM   Floating   2030     5.3 %     111.7     N/A     N/A       -     N/A     N/A       -  
Weighted average effective interest rate             5.6 %                 5.1 %                 4.6 %        
Carrying value                     729.5                   719.1                   671.6  
                                                                 
Hereof non-current 2)                     637.3                   633.1                   595.7  
Hereof current 2)                     92.2                   86.0                   75.9  

 

1) Effective interest rate includes deferred and amortized bank fees.
2) The carrying value of the Group's mortgage debt and bank loans is, because of floating interest rate, approximate to fair value. The carrying value are excluding amortized bank fees recognized in the balance sheet.