On 13 May 2016 the Company concluded interest rate swap (IRS) transaction with BNP Paribas SA ("Transaction"). The Transaction exchanges interest payments based on a floating WIBOR 3M rate into interest payments based on a fixed rate of 1.5150%.
The Transaction was concluded for the period from 30 December 2016 until 28 September 2018 and the total nominal value of the loan being hedged by Transaction amounts to PLN 250.00.
Impact of hedging instruments valuation on assets and liabilities as at 31 December 2016
| IRS | |
|---|---|
| Assets | |
| Long-term | 0.9 |
| Short-term | 0.6 |
| Total | 1.5 |
Impact of hedging instruments valuation on assets and liabilities as at 31 December 2015
| IRS | |
|---|---|
| Liabilities | |
| Short-term | (8.3) |
| Total | (8.3) |
Impact of hedging instruments valuation on hedge valuation reserve
| 2016 | 2015 | |
|---|---|---|
| Balance as at 1 January | (6.7) | (12.2) |
| Valuation of cash flow hedges | 9.8 | 6.6 |
| Deferred tax | (1.9) | (1.1) |
| Change for the period | 7.9 | 5.5 |
| Balance as at 31 December | 1.2 | (6.7) |