The maturities of all bondsand term loans are presented as of Dec 31, 2016. Commercial papers are not included. Zero bonds are included at the repayment amount, i.e., including the full interest accrued up to the end of the term. Bonds swapped into euros using interest rate and cross-currency swaps (swap agreements) are presented in the euro equivalent amounts defined in the swaps.
Deutsche Telekom has a very balanced maturity profile without any maturity burdens in an individual year. This ensures a high level of planning reliability for the Group's financing requirements. The existing liquidity reserve covers all maturities for the next 24 months at all times.