I.A. Årsredovisning 2020 ENG 1
NOTE 22 FINANCIAL LIABILITIES 12/31/2020 Non-curr
ent borrowings Bond loans Subordinated loan from Parent Company Liability relating to sold cars with repurchase agreements Financial lease liability Other liabilities Other liabilities to credit institutions Current borrowings Overdraft facilities Liability relating to sold cars with repurchase agreements Financial lease liability Liabilities to credit institutions 1,495,800 350,000 1,277,561 4,119,000 5,912 158,970 7,407,243 514,705 753,861 499,666 318,635 2,086,867 12/31/2019 1,493,400 350,000 1,241,383 4,332,659 25,018 184,655 7,627,115 1,023,408 776,508 500,978 407,331 2,708,225 A bond loan has been issued to finance the business acquisitions. The loan runs for a period of 5 years at floating rate, and is listed on Nasdaq Stockholm. For new loan financing above a certain level and payment of dividends to shareholders, the company must meet certain levels of interest-bearing liabilities in relation to EBITDA and interest coverage ratio. The parent company Hedin Group AB has submitted a loan of kSEK 350,000. The loan runs without interest and is subordinated to other liabilities. The fair value of the loans corresponds to the carrying value, as the discount effect is insignificant. All borrowings are at a variable interest rate. The Group has a granted overdraft of kSEK 1,225,000 (kSEK 1,225,000), renegotiated on an annual of basis. Of the approved overdraft facility, kSEK 514,705 (kSEK 1,023,408) has been used as of December 31, 2020. NOTE 23 ACCRUED EXPENSES AND PREPAID INCOME Debt relating to employees Interest expense Prepaid income Other items 12/31/2020 316,576 19,069 4,500 245,674 585,819 NOTE 24 PLEDGED ASSETS Floating charges Inventories, accounts receivables and equipment Land and buildings Net assets in subsidiaries 12/31/2020 1,179,505 1,017,659 184,868 0 2,382,032 Liabilities for the collateral amounted to kSEK 1,338,745 (kSEK 1,448,037) at year-end. 12/31/2019 1,168,668 908,896 183,632 0 2,261,196 12/31/2019 303,782 12,922 38,698 230,109 585,511 I.A. HEDIN BIL AB / ANNUAL REPORT / 2020 69