Bond Nestlé Holdings Inc. 0.03625% ( XS1130303305 ) in AUD

Issuer Nestlé Holdings Inc.
Market price 100 %  ⇌ 
Country  United States
ISIN code  XS1130303305 ( in AUD )
Interest rate 0.03625% per year ( payment 1 time a year)
Maturity 03/11/2020 - Bond has expired



Prospectus brochure of the bond Nestle Holdings Inc XS1130303305 in AUD 0.03625%, expired


Minimal amount /
Total amount /
Detailed description Nestlé Holdings Inc. is a Swiss multinational food and drink processing conglomerate corporation headquartered in Vevey, Vaud, Switzerland.

The Bond issued by Nestlé Holdings Inc. ( United States ) , in AUD, with the ISIN code XS1130303305, pays a coupon of 0.03625% per year.
The coupons are paid 1 time per year and the Bond maturity is 03/11/2020







CONFORMED COPY
Final Terms
Dated 29 October 2014
NESTLÉ HOLDINGS, INC.
Issue of AUD 175,000,000 3.625 per cent. Notes due 3 November 2020 (the "Notes")
Guaranteed by Nestlé S.A.
under the Debt Issuance Programme
PART A ­ CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the Terms and
Conditions set forth in the Prospectus dated 21 May 2014 as supplemented by the Supplementary
Prospectus dated 22 August 2014, which together constitute a base prospectus for the purposes of the
Prospectus Directive. This document constitutes the Final Terms of the Notes described herein for the
purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with the Prospectus
as so supplemented, including documents incorporated by reference. Full information on the Issuer, the
Guarantor and the offer of the Notes is only available on the basis of the combination of these Final
Terms and the Prospectus as so supplemented. A summary of the Notes (which comprises the summary
in the Prospectus as amended to reflect the provisions of these Final Terms) is annexed to these Final
Terms. The Prospectus and the Supplementary Prospectus are available for viewing on the Nestlé
Group's investor relations website, which can be found at www.nestle.com/investors and are available
on the website of the London Stock Exchange plc at
www.londonstockexchange.com/exchange/news/market-news/market-news-home. html.
The expression "Prospectus Directive" means Directive 2003/71/EC as amended (which includes
the amendments made by Directive 2010/73/EU to the extent that such amendments have been
implemented in a relevant Member State of the European Economic Area.
1.
(a) Issuer:
Nestlé Holdings, Inc.
(b) Guarantor:
Nestlé S.A.
2.
(a) Series Number:
80
(b) Tranche Number:
1
(c)
Date on which the
Not Applicable
Notes will be
consolidated and form a
single Series:
3.
Specified Currency:
Australian dollars ("AUD")
4.
Aggregate Nominal Amount:
(a) Series:
AUD 175,000,000
(b) Tranche:
AUD 175,000,000
5.
Issue Price:
101.133 per cent. of the Aggregate Nominal Amount
6.
(a)
Specified
AUD 2,000
Denominations:
(b) Calculation
Amount:
AUD 2,000
7.
(a) Issue
Date:
3 November 2014
(b)
Interest
Issue Date
Commencement Date:


8.
Maturity Date:
3 November 2020
9.
Interest Basis:
3.625 per cent. Fixed Rate
10. Redemption/Payment
Basis::
Subject to any purchase and cancellation or early redemption,
the Notes will be redeemed on the Maturity Date at 100 per
cent. of their nominal amount
11.
Change of Interest Basis:
Not Applicable
12. Put/Call
Options:
Not Applicable
13. (a) Status
of
the
Notes:
Senior
(b) Status
of
the Guarantee: Senior
14.
Date Board approval for
25 April 2014 and 26 September 2014, respectively
issuance of Notes and
Guarantee obtained:
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
15.
Fixed Rate Note Provisions
Applicable
(a) Rate(s)
of
Interest:
3.625 per cent. per annum payable in arrear on each Interest
Payment Date
(b)
Interest Payment
3 November in each year from, and including, 3 November
Date(s):
2015 up to, and including, the Maturity Date, adjusted in
accordance with the Following Business Day Convention,
with the Additional Business Centres for the definition of
"Business Day" being London, Melbourne, Zurich, New
York and Luxembourg, in addition to Sydney, with no
adjustment for period end dates
(c)
Fixed Coupon
AUD 72.50 per Calculation Amount (applicable to the Notes
Amount(s):
in definitive form) and AUD 6,343,750 per Aggregate
Nominal Amount of the Notes (applicable to the Notes in
global form), payable on each Interest Payment Date
(d) Broken
Amount(s):
Not Applicable
(e) Day
Count Fraction:
Actual/Actual (ICMA)
(f)
Determination Date(s): 3 November in each year
16. Floating Rate Note Provisions Not Applicable
17. Zero Coupon Note Provisions Not Applicable
PROVISIONS RELATING TO REDEMPTION
18. Issuer Call Option
Not Applicable
19. Investor Put Option
Not Applicable
20. Final Redemption Amount:
AUD 2,000 per Calculation Amount
Page 2


21. Early
Redemption Amount
Early Redemption Amount(s)
AUD 2,000 per Calculation Amount
per Calculation Amount
payable on redemption for
taxation reasons or on event of
default/or other earlier
redemption:
GENERAL PROVISIONS APPLICABLE TO THE NOTES
22. Form of Notes:
Registered Notes
Registered Global Note registered in the name of a nominee
for a common depositary for Euroclear Bank SA/NV and
Clearstream Banking, société anonyme exchangeable (free of
charge) for security printed definitive Notes only upon an
Exchange Event (as defined in the Registered Global Note)
Notes shall not be physically delivered in Belgium, except to
a clearing system, a depository or other institution for the
purpose of their immobilisation in accordance with Article 4
of the Belgian Law of 14 December 2005
23. New Safekeeping Structure:
No
24.
Additional Financial Centre(s)
Not Applicable
or other special provisions
relating to Payment Days:
25.
Talons for future Coupons to
No
be attached to definitive Notes:
26.
Spot Rate (if different from
Not Applicable
that set out in Condition 5(g)):
27.
Calculation Agent responsible
Not Applicable
for calculating the Spot Rate
for the purposes of Condition
5(g) (if not the Agent):
28. RMB Settlement Centre(s):
Not Applicable
Signed on behalf of the Issuer:
Signed on behalf of the Guarantor:
By: DON W. GOSLINE
By: MANDEEP CHHATWAL
Don W. Gosline
Mandeep Chhatwal
Duly authorised
Duly authorised
By: LINDA J. BRODIE
By: CLAUDIO MENGHI
Linda J. Brodie
Claudio Menghi
Duly authorised
Duly authorised
Page 3


PART B ­ OTHER INFORMATION
1.
LISTING
Application is expected to be made by the Issuer (or on its
behalf) for the Notes to be admitted to trading on the
London Stock Exchange's Regulated Market and for
admission to the Official List of the UK Listing Authority
with effect from the London Stock Exchange business day
following the Issue Date
2.
RATINGS
The Notes to be issued are not rated by Standard & Poor's
Credit Market Services France SAS and Moody's France
SAS
3.
INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE
Save for any fees payable to the Managers, so far as the Issuer is aware, no person involved in the issue
of the Notes has an interest material to the offer. The Managers and their affiliates may have engaged,
and may in the future engage, in investment banking and/or commercial banking transactions with, and
may perform the services for, the Issuer and its affiliates in the ordinary course of business.
4.
REASONS FOR THE OFFER, ESTIMATED NET PROCEEDS AND TOTAL
EXPENSES
(i)
Reasons for the Offer:
As set out in "Use of Proceeds" in the Prospectus dated 21
May 2014
(ii)
Estimated net proceeds:
AUD 173,701,500 (following deduction of the Managers'
commission and concession)
(iii)
Estimated total expenses:
AUD 50,000 for legal, filing and miscellaneous expenses
5.
YIELD (Fixed Rate Notes Only)
Indication of yield:
3.413 per cent. per annum
6.
HISTORIC INTEREST RATES (Floating Rate Notes Only)
Not Applicable
7.
OPERATIONAL INFORMATION
(i)
ISIN:
XS1130303305
(ii)
Common Code:
113030330
(iii)
Any clearing system(s) other
Not Applicable
than Euroclear Bank SA/NV,
Clearstream Banking,
société
anonyme and the relevant
identification number(s):
(iv)
Delivery:
Delivery against payment
(v)
Names and addresses of
Not Applicable
additional Paying Agent(s) (if
any):
8.
DISTRIBUTION
(i)
Names and addresses of
Australia and New Zealand Banking Group Limited
Managers / relevant Dealer and
ABN 11 005 357 522
underwriting commitments:
40 Bank Street
Canary Wharf
London E14 5EJ
Underwriting Commitment: AUD 82,000,000
The Toronto-Dominion Bank
60 Threadneedle Street
London EC2R 8AP
Underwriting Commitment: AUD 82,000,000
Page 4


Bank Vontobel AG Zürich
Gotthardstrasse 43
CH-8001 Zurich
Switzerland
Underwriting Commitment: AUD 1,000,000
CIBC World Markets plc
150 Cheapside
London EC2V 6ET
Underwriting Commitment: AUD 1,000,000
Commonwealth Bank of Australia ABN 48 123 123 124
Senator House
85 Queen Victoria Street
London EC4V 4HA
Underwriting Commitment: AUD 1,000,000
Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A.
(Rabobank International)
Croeselaan 18
3521 CB Utrecht
The Netherlands
Underwriting Commitment: AUD 1,000,000
Daiwa Capital Markets Europe Limited
5 King William Street
London EC4N 7AX
Underwriting Commitment: AUD 1,000,000
Danske Bank A/S
2-12 Holmens Kanal
DK-1092 Copenhagen K
Denmark
Underwriting Commitment: AUD 1,000,000
Deutsche Bank AG, London Branch
Winchester House
1 Great Winchester Street
London EC2N 2DB
Underwriting Commitment: AUD 1,000,000
HSBC Bank plc
8 Canada Square
London E14 5HQ
Underwriting Commitment: AUD 1,000,000
National Australia Bank Limited ABN 12 004 044 937
88 Wood Street
London EC2V 7QQ
Underwriting Commitment: AUD 1,000,000
RBC Europe Limited
Riverbank House
2 Swan Lane
London EC4R 3BF
Underwriting Commitment: AUD 1,000,000
Westpac Banking Corporation ABN 33 007 457 141
23 Camomile Street
London EC3A 7LL
Underwriting Commitment: AUD 1,000,000
(each a "Manager" and together, the "Managers")
(ii)
Date of the Letter for a
29 October 2014
Syndicated Note Issue:
Page 5


(iii)
Total commission and
1.875 per cent. of the Aggregate Nominal Amount
concession:
(iv) U.S. Selling Restrictions:
Reg. S Compliance Category 2; TEFRA Not Applicable
(v)
The Netherlands Selling
Applicable
Restrictions (Article 5:20(5)
Dutch Financial Supervision Act
(Wet op het financieel toezicht)):
(vi)
Public Offer where there is no
Applicable - see paragraph 9 below
exemption from the obligation
under the Prospectus Directive to
publish a Prospectus:
9.
TERMS AND CONDITIONS OF THE PUBLIC OFFER
An offer of the Notes may be made by each of the Managers and any placers (authorised directly
or indirectly by the Issuer or any of the Managers), other than pursuant to Article 3(2) of the
Prospectus Directive, in each of Austria, Belgium, Germany, Luxembourg and the Netherlands
(together with the United Kingdom, the "Public Offer Jurisdictions") during the Offer Period (as
defined below).
The above consent is subject to the following conditions:
(a) the only Offerors authorised to use the Issuer's Base Prospectus to make the Public Offer of the
Notes are the Managers; and
(b) any financial intermediary which is authorised to make such offers under the Markets in
Financial Instruments Directive 2004/39/EC and which has been duly appointed, directly or
indirectly, by the Issuer to make such offers, provided that such financial intermediary states on
its website (I) that it has been duly appointed as a financial intermediary to offer the Notes
during the Offer Period, (II) it is relying on the Issuer's Base Prospectus for such Public Offer
with the consent of the Issuer, and (III) the conditions attached to that consent (the "Placers").
(i)
Offer Period:
From the date of, and following, publication of these Final
Terms being 29 October 2014 to 3 November 2014
(ii) Offer
Price:
The Issuer has offered and will sell the Notes to the
Managers (and no one else) at the Issue Price of 101.133
per cent., less a total commission and concession of 1.875
per cent. of the Aggregate Nominal Amount of the Notes.
Managers and Placers will offer and sell the Notes to their
customers in accordance with arrangements in place
between each such Manager and its customers (including
Placers) or each such Placer and its customers by reference
to the Issue Price and market conditions prevailing at the
time
(iii)
Conditions to which the offer is
Offers of the Notes are conditional on their issue and are
subject:
subject to such conditions as are set out in the Letter for a
Syndicated Note Issue dated 29 October 2014. As
between Managers and their customers (including Placers)
or between Placers and their customers, offers of the Notes
are further subject to such conditions as may be agreed
between them and/or as is specified in the arrangements in
place between them
(iv)
Description of the application
A prospective Noteholder will purchase the Notes in
process:
accordance with the arrangements in place between the
relevant Manager and its customers or the relevant Placer
and its customers, relating to the purchase of securities
generally. Noteholders (other than Managers) will not
enter into any contractual arrangements directly with the
Issuer in connection with the offer or purchase of the
Notes
Page 6


(v)
Description of possibility to
Not Applicable
reduce subscriptions and the
manner for refunding excess
amount paid by applicants:
(vi)
Details of the minimum and/or
There are no pre-identified allotment criteria. The
maximum amount of application
Managers and the Placers will adopt allotment and/or
(whether in number of Notes or
application criteria in accordance with customary market
aggregate amount to invest):
practices and applicable laws and regulations and/or as
otherwise agreed between them
(vii)
Method and time limits for
The Notes will be sold by the Issuer to the Managers on a
paying up the Notes and for
delivery against payment basis on the Issue Date.
delivery of the Notes:
Prospective Noteholders will be notified by the relevant
Manager or Placer of their allocations of the Notes and the
settlement arrangements in respect thereof
(viii)
Manner in and date on which
Not Applicable
results of the offer are to be
made public:
(ix)
Procedure for exercise of any
Not Applicable
right of pre-emption,
negotiability of subscription
rights and treatment of
subscription rights not exercised:
(x)
Whether Tranche(s) have been
Not Applicable
reserved for certain countries:
(xi)
Process for notification to
Prospective Noteholders will be notified by the relevant
applicants of the amount allotted
Manager or Placer in accordance with the arrangements in
and the indication whether
place between such Managers or Placers and its customers.
dealing may begin before
Any dealings in the Notes which take place will be at the
notification is made:
risk of prospective Noteholders
(xii)
Amount of any expenses and
Not Applicable
taxes specifically charged to the
subscriber or purchaser:
(xiii)
Name(s) and address(es), to the
None known to the Issuer
extent known to the Issuer, of the
Placers in the various countries
where the offer takes place:
Page 7


ANNEX
SUMMARY OF THE NOTES
Summaries are made up of disclosure requirements known as "Elements". These Elements are
numbered in Sections A-E (A.1-E.7). This summary contains all the Elements required to be included in
a summary for the Notes, the Issuer and the Guarantor. Because some Elements are not required to be
addressed, there may be gaps in the numbering sequence of the Elements. Even though an Element may
be required to be inserted in the summary because of the type of securities, issuer and guarantor, it is
possible that no relevant information can be given regarding the Element. In this case a short
description of the Element is included in the summary with the mention of "not applicable".
Section A ­ Introduction and warnings
Element
Title
A.1
Warning
This summary must be read as an introduction to the Prospectus and the
applicable Final Terms. Any decision to invest in any Notes should be based
on a consideration of the Prospectus as a whole, including the documents
incorporated by reference, and the applicable Final Terms. Where a claim
relating to information contained in the Prospectus and the applicable Final
Terms is brought before a court in a Member State of the European
Economic Area, the plaintiff may, under the national legislation of the
Member State where the claim is brought, be required to bear the costs of
translating the Prospectus and the applicable Final Terms before the legal
proceedings are initiated. No civil liability will attach to the Issuer or the
Guarantor in any such Member State solely on the basis of this Summary,
including any translation hereof, unless it is misleading, inaccurate or
inconsistent when read together with the other parts of the Issuer's Base
Prospectus and the applicable Final Terms or, following the implementation
of the relevant provisions of Directive 2010/73/EU in each relevant Member
State, it does not provide, when read together with the other parts of the
Issuer's Base Prospectus and the applicable Final Terms, key information (as
defined in Article 2.1(s) of the Prospectus Directive 2003/71/EC, as amended)
in order to aid investors when considering whether to invest in the Notes.
A.2
Consent to use of
Certain Tranches of Notes with a denomination of less than 100,000 (or its
the Issuer's Base
equivalent in any other currency) may be offered in circumstances where there is
Prospectus
no exemption from the obligation under the Prospectus Directive to publish a
prospectus. Any such offer is referred to as a "Public Offer".
Consent: Subject to the conditions set out below, the Issuer consents to the use of
its Base Prospectus (that is: all information in the Prospectus, except for
information in the Prospectus relating to Nestlé Finance International Ltd.) in
connection with a Public Offer of Notes:
(i) the consent is only valid during the period from 29 October 2014 until
3 November 2014 (the "Offer Period");
(ii) the only offerors authorised to use the Issuer's Base Prospectus to make the
Public Offer of the Notes are:
(a) Australia and New Zealand Banking Group Limited ABN 11 005 357 522, The
Toronto-Dominion Bank, Bank Vontobel AG Zürich, CIBC World Markets plc,
Commonwealth Bank of Australia ABN 48 123 123 124, Coöperatieve Centrale
Raiffeisen-Boerenleenbank B.A. (Rabobank International), Daiwa Capital
Markets Europe Limited, Danske Bank A/S, Deutsche Bank AG, London Branch,
HSBC Bank plc, National Australia Bank Limited ABN 12 004 044 937, RBC
Europe Limited and Westpac Banking Corporation ABN 33 007 457 141 (the
"Managers", and each an "Authorised Offeror"); and
(b) any financial intermediary which is authorised to make such offers under the
Markets in Financial Instruments Directive 2004/39/EC and which has been duly
appointed, directly or indirectly, by the Issuer to make such offers, provided that
such financial intermediary states on its website (I) that it has been duly appointed
as a financial intermediary to offer the Notes during the Offer Period, (II) it is
relying on the Issuer's Base Prospectus for such Public Offer with the consent of
the Issuer, and (III) the conditions attached to that consent (the "Placers", and
each an "Authorised Offeror");
Page 8


Element
Title
(iii) the consent only extends to the use of the Issuer's Base Prospectus to make
Public Offers of the Notes in Austria, Belgium, Germany, Luxembourg and the
Netherlands, in addition to the United Kingdom, as specified in Paragraph 9 of
Part B of the applicable Final Terms; and
(iv) the consent is subject to the conditions set out in Paragraph 9 of Part B of the
applicable Final Terms.
Any offeror falling within sub-paragraph (ii)(b) above who meets all of the
other conditions stated above and wishes to use the Issuer's Base Prospectus
in connection with a Public Offer is required, for the duration of the Offer
Period, to publish on its website (i) that it has been duly appointed as a
financial intermediary to offer the Notes during the Offer Period, (ii) it is
relying on the Issuer's Base Prospectus for such Public Offer with the consent
of the Issuer and (iii) the conditions attached to that consent.
The Issuer and the Guarantor accept responsibility, in each relevant Member State
for which the consent to use the Issuer's Base Prospectus extends, for the content
of its Base Prospectus in relation to any investor who purchases any Notes in a
Public Offer made by any person (an "offeror") to whom the Issuer has given
consent to use its Base Prospectus in that connection in accordance with the
preceding paragraphs, provided that the conditions attached to that consent are
complied with by the relevant offeror.
AN INVESTOR INTENDING TO ACQUIRE OR ACQUIRING ANY
NOTES IN A PUBLIC OFFER FROM AN AUTHORISED OFFEROR
WILL DO SO, AND OFFERS AND SALES OF SUCH NOTES TO AN
INVESTOR BY SUCH AUTHORISED OFFEROR WILL BE MADE, IN
ACCORDANCE WITH ANY TERMS AND OTHER ARRANGEMENTS IN
PLACE BETWEEN SUCH AUTHORISED OFFEROR AND SUCH
INVESTOR INCLUDING AS TO PRICE, ALLOCATIONS, EXPENSES
AND SETTLEMENT ARRANGEMENTS. THE ISSUER WILL NOT BE A
PARTY TO ANY SUCH TERMS AND ARRANGEMENTS WITH SUCH
INVESTORS IN CONNECTION WITH THE PUBLIC OFFER OR SALE
OF THE NOTES CONCERNED AND, ACCORDINGLY, THE ISSUER'S
BASE PROSPECTUS AND THE APPLICABLE FINAL TERMS WILL
NOT CONTAIN SUCH INFORMATION. THE INVESTOR MUST LOOK
TO THE RELEVANT AUTHORISED OFFEROR AT THE TIME OF
SUCH OFFER FOR THE PROVISION OF SUCH INFORMATION AND
THE RELEVANT AUTHORISED OFFEROR WILL BE RESPONSIBLE
FOR SUCH INFORMATION. NONE OF THE ISSUER, THE
GUARANTOR OR ANY DEALER (EXCEPT WHERE SUCH DEALER IS
THE RELEVANT AUTHORISED OFFEROR) HAS ANY
RESPONSIBILITY OR LIABILITY TO AN INVESTOR IN RESPECT OF
SUCH INFORMATION.
Section B ­ Issuers and Guarantor
Element
Title
B.1
Legal and
Nestlé Holdings, Inc. ("NHI" or the "Issuer")
commercial
name of the
Issuer
B.2
Domicile/legal
NHI is a corporation with unlimited duration, incorporated and domiciled in
form/ legislation/
Delaware, United States under the laws of the State of Delaware.
country of
incorporation
Page 9


Element
Title
B.4b
Trend information
The global business environment remained challenging in 2013 and continues to be
uncertain in 2014. Nestlé Group is well positioned with strong, high quality brands,
which are valued by the consumer but any adverse developments in the global
economy could impact consumer demand.
B.5
Description of the
NHI is a wholly owned subsidiary of Nestlé S.A. (the "Guarantor"). The Guarantor
Group
is the ultimate holding company of the Nestlé group of companies (the "Nestlé
Group" or the "Group").
B.9
Profit forecast or
Not Applicable; there are no profit forecasts or estimates made in the Issuer's Base
estimate
Prospectus.
B.10
Audit report
Not Applicable; there are no qualifications contained within the audit reports
qualifications
relating to the historical financial information of NHI as at and for the twelve
months ended 31 December 2013 and 2012, respectively.
B.12
Selected historical key financial information
NHI:
The financial information set out below has been extracted without material adjustment from the unaudited
interim consolidated financial statements of NHI for the six-month period ended 30 June 2014 and the
audited consolidated financial statements of NHI for the financial year ended 31 December 2013, prepared
in accordance with International Accounting Standard (IAS 34) ­ Interim Financial Reporting and
International Financial Reporting Standards as issued by the International Accounting Standards Board,
respectively.
Consolidated Balance Sheets
As at 30 June and 31 December
(U.S. dollars in thousands, except capital stock par value and shares)
30 June
31 December
31 December
2014
2013
2012*
Assets
Current assets:
Cash and cash equivalents............................................................
371,000
354,294
821,205
Short-term investments ................................................................
26,017
12,510
4,897
Trade and other receivables, net................................
3,688,300
3,466,465
2,675,058
Inventories, net................................................................ 2,006,786
1,534,223
1,559,927
Derivative assets................................................................
202,802
134,888
414,656
Assets held for sale................................................................ 20,490
34,461
16,214
Prepayments ................................................................
140,658
58,002
92,153
Total current assets ................................................................
6,456,053
5,594,843
5,584,110
Non-current assets:
Property, plant and equipment, net................................
4,989,908
5,086,050
4,984,635
Employee benefits assets..............................................................
588,481
478,455
36,528
Investments in joint ventures and associated
companies................................................................
15,077
11,704
6,645
Deferred tax assets ................................................................ 906,795
950,235
1,187,814
Financial assets ................................................................ 3,854,277
3,604,497
3,436,526
Goodwill ................................................................
18,188,594
18,204,037
18,712,591
Intangible assets, net ................................................................
962,297
943,335
956,089
Total non-current assets ...............................................................
29,505,429
29,278,313
29,320,828
Total assets ................................................................
35,961,482
34,873,156
34,904,938
Liabilities and Equity
Current liabilities:
Trade and other payables................................................................
1,350,649
1,414,883
1,274,645
Financial liabilities ................................................................
4,813,148
5,310,646
8,746,401
Provisions................................................................
101,496
113,160
103,198
Derivative liabilities ................................................................186,294
211,110
285,669
Accruals ................................................................
1,349,145
1,430,810
1,360,127
Total current liabilities ................................................................
7,800,732
8,480,609
11,770,040
Page 10