8 Finance expense
CHF million |
| 1st half-year |
| 1st half-year |
|
|
|
|
|
Interest expense payable to banks/insurance companies for liabilities |
| –4.9 |
| –5.0 |
Interest expense for derivatives |
| –7.9 |
| –9.6 |
Interest expense for bond issue |
| –4.0 |
| –2.0 |
Interest expense for convertible bonds |
| –4.9 |
| –3.6 |
Capitalised building loan interest |
| 2.1 |
| 4.8 |
Financial expense |
| –19.6 |
| –15.4 |
Capitalised building loan interest of CHF 2.1 million (1st half-year 2013: CHF 4.8 million) breaks down into development real estate under construction (CHF 0.8 million) and investment real estate under construction (CHF 1.3 million), applying an average interest rate of 2.03% to 2.11% (1st half-year 2013: 1.95% to 2.13%).