31. Issued bonds

 31 December 2016 31 December 2015
Short-term liabilities42.44,776.7
Long-term liabilities1,835.7975.3

Change in issued bonds:

Issued bonds as at 1 January5,752.05,014.6
Bonds on acquisition of Litenite Ltd. (see note 37)1,123.2-
Bonds (redemption)/issue(4.484.0)1,000.0
Repurchase of own bonds by the Group companies**(328.8)-
Foreign exchange losses244.8223.6
Early redemption fee(262.1)244.8
Cumulative catch-up-(616.2)
Repayment of interest and commission(308.7)(486.2)*
Interest accrued141.7371.4
Issued bonds payable as at 31 December1,878.15,752.0

* includes amount paid for costs related to the new financing
** repurchase of bonds issued by Midas from third parties

Bonds issued by Cyfrowy Polsat S.A.

On 21 July 2015, the Company registered 1,000,000 unsecured series A bearer bonds with a nominal value of PLN 1,000 each (not in millions) and a total nominal value of PLN 1,000,000,000 (not in millions) (the “Bonds”) in the securities depository maintained by the National Depository for Securities (Krajowy Depozyt Papierów Wartościowych S.A.). The Bonds mature in 6 years. The redemption date for the Bonds is 21 July 2021. The interest rate is floating and is based on the WIBOR 6M rate, increased by a margin which depends on the Leverage Ratio level (defined in the terms and conditions of the Bonds’ issuance).

Events subsequent to the reporting date - Completion of refinancing

On 1 February 2016, Eileme 2 (an indirect subsidiary of the Company) redeemed all of its issued senior notes in the total nominal value of EUR 542.5 and USD 500 due in 2020.

Purchase of bonds

On 12 May 2016 Cyfrowy Polsat Trade Marks (Company’s direct subsidiary) purchased Midas’ bonds for the total amount of PLN 221.8.

On 12 May 2016 Polkomtel (Company’s indirect subsidiary) purchased Midas’ bonds for the total amount of PLN 101.8.

On December 9, 2016 Aero2, legal successor of Midas, exercised an early obligatory redemption of all Midas bonds. As at the date of redemption the majority of Midas bonds were owned by companies from Polsat Group, which had bought them during year 2016.