IBERSOL | Annual Report 2020

ANNUAL REPORT 2020 17. LOANS AND LEASE LIABILITIES 17.1 LOANS As at 31 December 2020 and 2019, current and non-current loans were as follows: Non-current dec/2020 dec/2019 Bank loans 66.088.448 16.763.367 Commercial paper programmes 80.200.000 58.000.000 146.288.448 74.763.367 Financing fees -793.492 - 145.494.956 74.763.367 Current dec/2020 dec/2019 Bank overdrafts 916 3.739.953 Bank loans 17.972.709 23.659.362 Commercial paper programmes 1.600.000 19.000.000 19.573.625 46.399.315 Total loans 165.068.581 121.162.682 Average interest rate 1,9% 2,7% There are no significant differences between the balance sheet amounts and fair value of current and non-current loans. The maturities of non-current bank loans are broken down as follows: dec/2020 dec/2019 From 1 to 2 years 33.815.546 28.421.835 From 2 to 5 years 112.342.860 46.241.284 > 5 years 130.042 100.248 146.288.448 74.763.367 Regardless of its ending stated period, for the subscribed commercial paper pro- grammes the Group considers the full repayment on its maturity date (the renewal date). The interest rate in force as at 31 December 2020 of CPPs and bank loans was on aver- age around 1.24% (31 December 2019: 1.30%). Most bond loans and bank loans indexed to variable rates are indexed to Euribor. Movements in 2020 and 2019 in current and non-current loans, except financial leases and bank overdrafts, are as follows: 371