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INTEGRATED REPORT 2016

Bonds

In April 2013 the Group issued US$ denominated bonds at the nominal value of US$ 650 million bearing a coupon of

3.723% p.a. maturing in 2018:

2016 2015
Balance at 1 January 584,668 583,972
Interest accrued 21,325 21,963
Interest paid (21,215) (23,113)
Amortisation of syndication fees 476 422
Foreign exchange (gain)/loss (107,001) 160,820
Effect of translation to presentation currency 106,654 (159,396)
Balance at 31 December 584,907 584,668

Short-term part of bonds is represented by future coupon payment in the amount of US$ 2,550 at 31 December 2016 (31 December 2015: US$ 3,785).

The fair value of the outstanding bonds issued at 31 December 2016 was US$ 580,084 according to Irish Stock Exchange quotations (31 December 2015: US$ 545,531).

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