2019 Annual financial report

Note 11 Deferred expenses

This line item includes costs associated with the bond issue and the arrangement of the syndicated and other credit lines, for the portion still to be amortized over the remaining period to maturity of the bonds and to expiry of the credit lines.
Deferred expenses at December 31, 2019 were composed of:

Note 12 Bond issue and redemption premiums

The amounts on this line item represent the amounts still to be amortized over the remaining period to maturity of the bonds in question.
At December 31, 2019, the issue premiums break down as follows:

Note 13 Unrealized foreign exchange losses

Unrealized foreign exchange losses break down as follows:

Note 14 Average headcount

The Company had an average headcount of 1.