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Note 17. Provisions
€ million 2017 2016
Provisions for leases 4.5 8.0
Other provisions 5.4 1.2
Total 9.9 9.2
Note 18. Non-current liabilities
On 10 June 2004, Kesko Corporation issued a Private Placement of USD 120 million in the US. The facility has three tranches with bullet repayments, of which the first tranch (USD 60 million) was due in 2014 and the second (USD 36 million) in 2016. The third tranch will be due in 2019 (USD 24 million). Kesko has hedged the loan with currency and interest rate swaps and will apply hedge accounting to the facility. At the balance sheet date, the fair value of the foreign currency derivatives hedging the private placement was €-0.1 million and the fair value of the interest rate derivatives was €-0.4 million. The loan capital is €20.1 million and the fixed interest rate is 6.2%.
On 11 September 2012, Kesko Corporation issued a €250 million bond. The bond carries a fixed coupon rate of 2.75%. The bond matures after six years from issuance.
Note 19. Current liabilities
€ million 2017 2016
Liabilities to subsidiaries
Trade payables 128.5 1.8
Other payables 235.7 520.9
Accruals and deferred income 64.5 5.2
Total 428.8 527.9
Liabilities to associates
Trade payables 0.0 0.0
Accruals and deferred income 0.2 0.0
Other payables 23.9 21.9
Total 24.1 21.9
Accruals and deferred income
Employee benefit expenses 71.3 38.7
Accruals and deferred income from purchases 41.6 5.3
Transaction prices 1.8 -
Fees for services 1.2 -
Others 53.4 22.7
Total 169.2 66.6
Note 20. Interest-free liabilities
€ million 2017 2016
Current liabilities 1,077.3 258.1
Non-current liabilities 0.0 8.2
Total 1,077.3 266.3