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NOTE 25
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SECURED BORROWINGS, GUARANTEES AND CONTINGENT LIABILITIES
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Secured borrowings
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|||||||
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NOK 1 000
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2013
|
2012
|
|||||
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Loan facilities
|
1 845 942
|
1 418 637
|
|||||
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Factoring
|
8 383
|
19 872
|
|||||
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Total
|
1 854 325
|
1 438 509
|
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Loan facilities comprise various credit facilities in the Group, normally secured by receivables, inventories, tangible assets and investment property. Interest terms are floating interest rates.
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Carrying amounts of pledged assets
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|||||||
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NOK 1 000
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2013
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2012
|
|||||
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Investment property
|
1 222 094
|
1 611 814
|
|||||
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Other tangible assets
|
136 928
|
142 886
|
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Inventories
|
497 486
|
213 678
|
|||||
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Receivables
|
519 078
|
377 867
|
|||||
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Total
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2 375 586
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2 346 245
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Maximum exposure to the above assets
|
2 375 586
|
2 346 245
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Guarantees and off-balance sheet liabilities
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|||||||
|
NOK 1 000
|
2013
|
2012
|
|||||
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Committed capital to fund investments
|
903 209
|
993 986
|
|||||
|
Commitment to provide loans
|
|
3 283
|
|||||
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Guarantees without security
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923 476
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665 210
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Clauses on minimum purchases in agreements with suppliers
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187 190
|
152 408
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|||||
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Other obligations 1)
|
108 369
|
82 044
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Total
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2 122 244
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1 896 931
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1) Other obligations mainly concern repurchase commitments on sales of machines and investment obligations relating to developing investment property and the building of manufacturing plants.
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In 2012, Ferd AS was sued by Amorin in connection with Ferd's former engagement in TiMar (Portugal). Ferd agreed to a settlement involving an insignificant amount in 2013.
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