21 – Liabilities

Financial indebtedness (Million €)

 

 

 

 

 

Carrying amounts based on effective interest method

 

 

Currency

Nominal value (million, currency of issue)

Effective interest rate

December 31,
2020

December 31,
2019

BASF SE

 

 

 

 

 

Commercial paper

USD

220a

 

178

861

Commercial paper

GBP

1,000

 

1,112

variable

Bond 2013/2020

EUR

300

variable

300

1.875%

Bond 2013/2021

EUR

1,000

1.47%

1,000

1,004

2.5%

Bond 2017/2022

USD

500

2.65%

407

444

1.375%

Bond 2018/2022

GBP

250

1.52%

277

293

2%

Bond 2012/2022

EUR

1,250

1.93%

1,252

1,253

0.925%

Bond 2017/2023

USD

850

0.83%

673

726

0.101%

Bond 2020/2023

EUR

1,000

0.14%

999

0.875%

Bond 2016/2023

GBP

250

1.06%

277

292

2.5%

Bond 2014/2024

EUR

500

2.60%

499

498

1.750%

Bond 2017/2025

GBP

300

1.87%

332

350

0.875%

Bond 2018/2025

EUR

750

0.97%

747

746

3.675%

Bond 2013/2025

NOK

1,450

3.70%

138

147

0.250%

Bond 2020/2027

EUR

1,000

0.32%

996

0.875%

Bond 2017/2027

EUR

1,000

1.04%

989

987

2.670%

Bond 2017/2029

NOK

1,600

2.69%

153

162

0.875%

Bond 2019/2029

EUR

250

1.01%

247

247

1.5%

Bond 2018/2030

EUR

500

1.63%

495

494

1.5%

Bond 2016/2031

EUR

200

1.58%

199

198

0.875%

Bond 2016/2031

EUR

500

1.01%

493

493

2.37%

Bond 2016/2031

HKD

1,300

2.37%

137

149

1.450%

Bond 2017/2032

EUR

300

1.57%

296

296

3%

Bond 2013/2033

EUR

500

3.15%

493

492

2.875%

Bond 2013/2033

EUR

200

2.96%

198

198

4%

Bond 2018/2033

AUD

160

4.24%

98

98

1.625%

Bond 2017/2037

EUR

750

1.73%

738

738

3.25%

Bond 2013/2043

EUR

200

3.27%

199

199

1.025%

Bond 2018/2048

JPY

10,000

1.03%

79

82

3.89%

U.S. private placement series A 2013/2025

USD

250

3.92%

203

222

4.09%

U.S. private placement series B 2013/2028

USD

700

4.11%

570

622

4.43%

U.S. private placement series C 2013/2034

USD

300

4.45%

244

266

BASF Finance Europe N.V.

 

 

 

 

 

0.0%

Bond 2016/2020

EUR

1,000

0.14%

999

3.625%

Bond 2018/2025

USD

200

3.69%

163

177

0.75%

Bond 2016/2026

EUR

500

0.88%

496

496

Other bonds

 

 

 

102

608

Bonds and other liabilities to the capital market

 

 

15,479

15,137

Liabilities to credit institutions

 

 

3,735

3,240

Financial indebtedness

 

 

 

19,214

18,377

a

Nominal value as of December 31, 2020

Breakdown of financial indebtedness by currency (Million €)

 

December 31,
2020

December 31,
2019

Euro

12,684

11,283

U.S. dollar

3,166

4,558

Pound sterling

1,998

935

Norwegian krone

291

309

Chinese renminbi

250

253

Hong Kong dollar

137

149

Japanese yen

136

138

Australian dollar

98

98

South African rand

95

65

Indian rupee

86

69

Argentinian peso

66

75

Brazilian real

62

88

Ukrainian hryvnia

38

83

Turkish lira

34

123

Indonesian rupiah

18

46

Kazakhstani tenge

16

53

Other currencies

39

52

Total

19,214

18,377

Maturities of financial indebtedness (Million €)

 

December 31,
2020

December 31,
2019

Following year 1

3,395

3,362

Following year 2

2,310

1,078

Following year 3

2,121

2,157

Following year 4

1,351

1,223

Following year 5

1,787

1,310

Following year 6 and maturities beyond this year

8,250

9,247

Total

19,214

18,377

Other bonds

Other bonds consisted primarily of a bond issued by BASF Corporation that was used to finance investments in the United States. Both the nominal interest rate and effective interest rate of this bond were 6.95% in 2020. Its remaining term to maturity is 90 months. All other BASF Corporation bonds reported in other bonds in 2019 were paid off ahead of schedule in 2020.

Liabilities to credit institutions

Liabilities to credit institutions rose from €3,240 million as of December 31, 2019 to €3,735 million as of December 31, 2020. The weighted average interest rate on loans amounted to 2.1% in 2020, compared with 3.8% in 2019.

Unused credit lines

BASF SE had committed and unused credit lines with variable interest rates amounting to €9,000 million as of December 31, 2020, and €6,000 million as of December 31, 2019. BASF SE’s existing credit line of €380 million for the financing of specific research and development activities as of December 31, 2019 was drawn on in 2020.

Other liabilities (Million €)

 

December 31, 2020

December 31, 2019

 

Noncurrent

Current

Noncurrent

Current

Derivatives with negative fair values

284

674

188

493

Liabilities from leases

1,026

334

1,039

381

Loan and interest liabilities

37

583

50

534

Advances received on orders

679

537

Miscellaneous liabilities

41

464

39

398

Other liabilities that qualify as financial instruments

1,388

2,734

1,316

2,343

Liabilities related to social security

55

76

63

84

Employee liabilities

22

238

25

244

Liabilities from precious metal trading positions

200

462

Contract liabilities

210

52

259

53

Deferred income

7

26

13

33

Miscellaneous liabilities

29

114

2

208

Other liabilities that do not qualify as financial instruments

323

706

362

1,084

Other liabilities

1,711

3,440

1,678

3,427

Other liabilities

Contract liabilities include mainly customer payments entitling them to access licenses over an agreed period of time. The majority of existing contracts have terms of up to six years. Of the contract liabilities reported as of December 31, 2020, €52 million are expected to be recognized as revenue in 2021.

Secured liabilities (Million €)

 

December 31,
2020

December 31,
2019

Liabilities to credit institutions

13

15

Accounts payable, trade

2

5

Other liabilities

264

116

Secured liabilities

279

136

Liabilities to credit institutions were secured primarily with registered land charges. Other liabilities included collateral for derivative instruments with negative fair values. As in the previous year, there were no secured contingent liabilities in 2020.