Funding
Skanska has several borrowing programs − both committed bank credit facilities and market funding programs − which provide good preparedness for temporary fluctuations in the Group's short-term liquidity requirements and ensure long-term funding.
During 2009, through its Finnish operations, Skanska borrowed EUR 91 M in the form of pension re-borrowing from two Finnish insurance companies. The loans carried fixed interest with principal repayments every six months. After year-end these loans were repaid, and they were thus recognized as interest-bearing current financial liabilities on December 31, 2010.
| | Maturity | Currencies | Limit | Nominal | Utilized |
| Funding programs |
|
|
|
|
|
| Commercial paper (CP) program, maturities 0-1 years |
|
SEK/EUR |
SEK 6,000 M |
6,000 |
0 |
| Medium Term Note (MTN) program, maturities 1-10 years |
|
SEK/EUR |
SEK 8,000 M |
8,000 |
0 |
| Total |
|
|
14,000 |
14,000 |
0 |
| Committed credit facilities |
|
|
|
|
|
| Syndicated bank loan |
2014 |
SEK/EUR/USD |
EUR 750 M |
6,760 |
0 |
| |
2018 |
EUR |
EUR 100 M |
901 |
901 |
| Other credit facilities |
|
|
|
511 |
8 |
| Total |
|
|
|
8,172 |
909 |
At year-end 2010, the Group's unutilized credit facilities totaled SEK 7,350 M (8,410).