47. Interest-bearing liabilities (long-term)

Non-current interest-bearing liabilities include loans available to Enexis for more than one year.

€ Million

2025

2024

Listed notes

3,972

2,981

Convertible hybrid shareholders' loan

500

500

Total

4,472

3,481

The non-current interest-bearing liabilities can be specified as follows, according to remaining term and interest rate percentages:

€ Million

Interest

Remaining period (years)

2025

2024

< 1 year

1-5 years

> 5 years

< 1 year

1-5 years

> 5 years

Euro Medium Term Notes

0.875%

0.3

500

-

-

-

499

-

Euro Medium Term Notes

0.750%

5.5

-

-

498

-

-

498

Euro Medium-Term Notes (Green bond)

0.625%

6.5

-

-

499

-

-

498

Euro Medium-Term Notes (Green bond)

0.375%

7.3

-

-

494

-

-

494

Euro Medium-Term Notes (Green bond)

3.625%

8.5

-

-

498

-

-

498

Euro Medium-Term Notes (Green bond)

3.500%

10.4

-

-

495

-

-

494

Euro Medium-Term Notes (Green bond)

3.250%

7.3

-

-

497

-

-

-

Euro Medium-Term Notes (Green bond)

3.625%

11.3

-

-

496

-

-

-

Euro Medium-Term Notes (Green bond)

3.375%

9.9

-

-

496

-

-

-

Convertible hybrid shareholders' loan Tranche A

2.150%

55.0

-

421

-

-

-

422

Convertible hybrid shareholders' loan Tranche B

1.400%

55.0

-

78

-

-

-

78

Total

500

499

3,973

-

499

2,982

The non-current interest-bearing liabilities amount to € 4,500 million in nominal value; deducting the costs to be amortised from these loans yields a residual value of € 4,472 million.

The fair value of the non-current interest-bearing liabilities amounted to approximately € 4,257 million at year-end 2025 (year-end 2024: € 3,251 million).