The financing of Husqvarna is managed centrally by Group Treasury in order to ensure efficiency and risk control.

Debt is primarily raised at Parent Company level and transferred to subsidiaries as internal loans or capital injections. In this process, various derivatives are used to convert the funds to the required currency. Financing is also undertaken locally, mostly in countries in which there are legal restrictions preventing financing through Group companies.

The major part of the Group's financing is currently conducted through bilateral loan agreements, bonds through a Swedish Medium Term Note (MTN) program and other bond financing. In addition, the Group has an unutilized committed revolving credit facility which during the year has been amended by reducing the amount from SEK 6bn to SEK 5bn and by extending the maturity from 2016 to 2019, with an option for an additional 1+1 year. Due to the nature of its business, the Group has major seasonal variations in its funding needs. These variations have during 2014 been managed mainly by utilizing the Group's commercial paper (CP) program and short-term bank loans.

Husqvarna has not breached any conditions in external loan agreements during the year.

  Total borrowings 2014 Facility amount 2014 Total borrowings 2013 Facility amount 2013
Medium Term Note Program 2,565 5,000 3,029 5,000
Other bond loans 1,928 - 1,915 -
Committed revolving credit facility - 5,000 - 6,000
Long-term bank loans 1) 1,939 - 1,497 -
Financial leases 181 - 177 -
Commercial papers - 7,000 - 7,000
Other short-term loans 139 - 433 -
Derivate liabilities 752 - 239 -
Total 7,504 17,000 7,290 18,000
1) Originally long-term.