Debt

Pirelli Gross Debt as of March, 31 2013 is worth 2,476.6 million euro.

Gross Debt as of March, 31 2013: 2.5 €/bln

	€/mln	Total		Nun-Current		Current
	bonds	616,719		616,718		-
	borrowings from banks	1,795,078		1,363,981		431,097
	borrowing from other financial institutions	5,002		5,001		-
	finance lease payables	17,326		4,139		13,187
	financial accrued liabilities and deferred income	16,151		3,733		12,418
	other financial payables	16,301		16,040		261
	other	10,035				10,035
		2,476,612		2,009,613		466,999

Gross Debt composition by:

Pirelli manages the risk of an increase in interest rates associated with indebtedness at a floating rate through indirect offsetting with financial receivables at a floating rate and, for the net amount, through recourse to derivative contracts, normally interest rate swaps and interest rate collars.