8 Finance expense
CHF million |
| 1st half-year |
| 1st half-year |
|
|
|
|
|
Interest expense payable to banks/insurance companies for liabilities |
| –4.6 |
| –4.9 |
Interest expense for derivatives |
| –10.1 |
| –7.9 |
Interest expense for bond issue |
| –5.0 |
| –4.0 |
Interest expense for convertible bonds |
| 0.0 |
| –4.9 |
Capitalised building loan interest |
| 0.9 |
| 2.1 |
Financial expense |
| –18.8 |
| –19.6 |
Capitalised building loan interest of CHF 0.9 million (1st half-year 2014: CHF 2.1 million) breaks down into development real estate under construction (CHF 0.8 million) and investment real estate under construction (CHF 0.1 million), applying an average interest rate of 2.10% to 2.30% (1st half-year 2014: 2.03 bis 2.11%).
Interest expense for derivatives includes CHF 2.4 million of additional charges owing to the payment of negative CHF Libor interest on interest rate swaps (1st half-year 2014: CHF 0.0 million).