| 27. | Loans and borrowings |
| 31 December 2017 |
31 December 2016 |
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Non-current liabilities |
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Unsecured bank loans |
6,376,981 | 5,300,756 | ||||||
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Debt securities issued |
1,770,482 | 1,589,227 | ||||||
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Finance lease liabilities |
108,164 | 41,539 | ||||||
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Secured bank loans |
2,368 | 3,580 | ||||||
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| 8,257,995 | 6,935,102 | |||||||
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Current liabilities |
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Unsecured bank loans |
2,643,112 | 1,581,135 | ||||||
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Current portion of unsecured bank loans |
1,513,425 | 922,867 | ||||||
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Current portion of secured bank loans |
2,022 | 2,054 | ||||||
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Current portion of finance lease liabilities |
14,556 | 6,575 | ||||||
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Current portion of long-term debt securities issued |
105,039 | 94,473 | ||||||
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Debt securities issued |
— | 238,956 | ||||||
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| 4,278,154 | 2,846,060 | |||||||
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Terms and conditions of outstanding loans are as follows:
| 31 December 2017 | 31 December 2016 | |||||||||||||||||||||||||||||||
| Currency | Interest rate type |
Nominal interest rate | Payment period |
Carrying amount |
Nominal interest Rate | Payment period |
Carrying amount |
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Unsecured bank loans (*) |
USD | Floating | Libor+2.0%-Libor+3.3% | 2018-2020 | 2,880,615 | Libor+2.0%-Libor+2.6% | 2017-2020 | 1,984,533 | ||||||||||||||||||||||||
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Unsecured bank loans (*) |
EUR | Floating | Euribor+1.2%-Euribor+2.2% | 2018-2026 | 5,511,579 | Euribor+1.2%-Euribor+2.2% | 2017-2025 | 3,593,110 | ||||||||||||||||||||||||
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Unsecured bank loans |
TL | Fixed | 11.1%-15.5% | 2018-2019 | 1,620,391 | 10.4%-12.6% | 2017-2018 | 1,819,944 | ||||||||||||||||||||||||
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Unsecured bank loans |
UAH | Fixed | 11%-14.5% | 2018 | 520,933 | 13.5%-18.6% | 2017 | 407,171 | ||||||||||||||||||||||||
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Secured bank loans (**) |
BYN | Fixed | 12%-16% | 2018-2020 | 4,390 | 12%-16% | 2017-2020 | 5,634 | ||||||||||||||||||||||||
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Debt securities issued |
USD | Fixed | 5.8% | 2018-2025 | 1,875,521 | 5.8% | 2017-2025 | 1,683,700 | ||||||||||||||||||||||||
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Debt securities issued |
TL | Fixed | — | — | — | 10.7% | 2017 | 238,956 | ||||||||||||||||||||||||
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Finance lease liabilities |
EUR | Fixed | 3.4% | 2018-2024 | 116,797 | 3.4% | 2017-2024 | 48,034 | ||||||||||||||||||||||||
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Finance lease liabilities |
USD | Fixed | 22.5% | 2018 | 41 | 18%-28% | 2017-2018 | 80 | ||||||||||||||||||||||||
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Finance lease liabilities |
TL | Fixed | 27.5%-27.7% | 2018-2020 | 5,882 | — | — | — | ||||||||||||||||||||||||
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| 12,536,149 | 9,781,162 | |||||||||||||||||||||||||||||||
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| (*) | Secured by blocked deposit amounting to EUR 26,350 and USD 17,100 (equivalent to TL 183,483 as at 31 December 2017), in connection with the foreign currency loans utilized by Turkcell Finansman. |
| (**) | Belarusian Telecom pledged its certain property, plant and equipment to secure these bank loans. Also, these bank loans are secured by the Government of the Republic of Belarus (Note 33). |
Finance lease liabilities are payable as follows:
| 31 December 2017 | 31 December 2016 | |||||||||||||||||||||||
| Future minimum lease payments |
Future finance charges |
Recognized as a liability |
Future minimum lease payments |
Future finance charges |
Recognized as a liability |
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Within one year |
17,447 | 2,891 | 14,556 | 7,908 | 1,333 | 6,575 | ||||||||||||||||||
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Between 1-5 years |
55,722 | 5,541 | 50,181 | 26,506 | 3,752 | 22,754 | ||||||||||||||||||
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More than 5 years |
60,401 | 2,418 | 57,983 | 19,859 | 1,074 | 18,785 | ||||||||||||||||||
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| 133,570 | 10,850 | 122,720 | 54,273 | 6,159 | 48,114 | |||||||||||||||||||
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For the majority of the borrowings, the fair values are not materially different to their carrying amounts, since the interest payable on those borrowings is either close to current market rates or the borrowings are of a short-term nature.
Details of the Group’s exposure to risks arising from current and non-current borrowings are set out in Note 33.