Note 44 Non-current liabilities
Interest-bearing debt
€ million | 2020 | 2019 |
Carrying amount as at 1 January | 2,057 | 1,780 |
Movements | ||
New loans | 725 | 989 |
Loans repaid | -298 | -707 |
Currency translation differences | -2 | -5 |
Total | 425 | 277 |
Carrying amount as at 31 December | 2,482 | 2,057 |
Long-term loans including the current portion
Effective interest rate | Current portion | Non-current portion | ||||
€ million | 2020 | 2019 | 2020 | 2019 | 2020 | 2019 |
Subordinated loans | 8.4% | 8.7% | 8 | 7 | 49 | 57 |
Private and green loans | 1.1% | 1.4% | - | 1 | 435 | 311 |
Euro Medium Term Notes | 1.4% | 1.8% | - | - | 1,990 | 1,392 |
Euro Commercial Paper | 0.0% | -0.3% | - | 289 | - | - |
Carrying amount as at 31 December | 8 | 297 | 2,474 | 1,760 | ||
Subordinated loans
These loans have been made available by shareholders. They are subordinated to all other liabilities.
Maturities of interest-bearing debt
€ million | 2020 | 2019 |
Less than 1 year | 8 | 297 |
Between 1 and 2 years | 408 | 8 |
Between 2 and 3 years | 125 | 408 |
Between 3 and 4 years | 400 | - |
Between 4 and 5 years | 9 | 399 |
Over 5 years | 1,532 | 945 |
Carrying amount as at 31 December | 2,482 | 2,057 |