Outstanding loans

Swedish Match's sources of loans and their maturity profiles as of December 31, 2010.

Swedish Match’s undiscounted cash flows regarding sources of loans, including interest payments, negative derivatives (derivatives with positive market values are excluded), trade payables and their maturity profi les are distributed as follows:

Table data
Year	MTN loans incl. Interest	Negative derivatives	Trade payables	Total cash flows	Total booked value
2011	893	145	554	1,592	1,185
2012	1,953	140	-	2,093	1,658
2013	1,493	92	-	1,585	1,216
2014	1,496	82	-	1,578	1,320
2015	2,224	44	-	2,268	2,014
2016-	3,370	255	-	3,625	3,179
Total	11,429	758	554	12,741	10,572

At December 31, 2010, the average interest maturity period for Group loans was 4.0 years (2.8 years), taking into account interest rate swaps. The interest maturity structure on December 31, 2010 was as follows:

Table data
Year	Loans, fixed	Loans, variable	Loans incl. derivatives, fixed	Loans incl. derivatives, variable
2011	-	526	180	346
2012	450	1,146	1,191	405
2013	1,176	-	1,176	-
2014	618	676	1,068	226
2015	1,996	-	1,996	-
2016-	3,146	-	3,146	-
Total	7,386	2,348	8,757	977

Under the Swedish bond program, Swedish Match has issued bonds in SEK, and under the global program, in EUR and SEK. Borrowing in EUR is hedged by currency swaps and currency interest rate swaps. The average interest costs for outstanding borrowings (including derivative instruments) on December 31, 2010 were as follows:

Table data
	2010	2009
Swedish MTN	0.0	3,0%
Global MTN	0.0	4,2%

Page updated Apr 4, 2011

Contact

Emmett Harrison: Senior Vice President Corporate Communications and Sustainability; Phone +46-8-6580173; Mobile +46-70-9380173

Other contacts

Addresses

Stockholm: Swedish Match AB
Corporate Headquarters
Box 7179
SE-103 88 Stockholm; Visiting address:
Västra Trädgårdsgatan 15; Phone: +46 8 658 0200; Fax: +46 8 720 7656