Debt Investors 

Debt at 31 December 2009 amounted to EUR 3 713.2 million an increase of EUR 268.0 million on the previous year’s EUR 3 445.2 million. Redemptions amounted to EUR 482.9 million. During the year, the Group raised EUR 741.7 million of debt, of which EUR 562.0 million was raised through the issue of bonds and EUR 138.2 million through other loans mainly from credit institutions.

Borrowings have various maturities, the longest being in 2036, and have either fixed or floating interest rates ranging from 0.5% (1.0%) to 8.6% (10.0%). The majority of Group loans are denominated in Euros, US dollars and Swedish kronas.

In 2009 net interest-bearing items decreased by EUR 530.2 million to EUR 2 593.8 million mainly as a result of the strong cash flow achieved during the year.