Note 15. Bonds Payable

In August 2019, a subsidiary completed a public issue of bonds with an aggregate nominal amount of $36,511 (€25,000), less commissions and issuance costs totalling $1,078 (€738) secured by the Group’s investment property. In 2024, the maturity of the bonds were extended to 2033 and the interest rate was increased to 5.70% per annum. Concurrent with this, the subsidiary wrote off the previously capitalized costs of $336 and the costs associated with the modification, totaling $783, were capitalized.

As at December 31, 2024, the carrying and nominal amounts of the bonds payable were $36,545 (€24,481) and $37,320 (€25,000), respectively.

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Note 15. Bonds Payable (continued)

For the movements of bonds payable in the years ended December 31, 2024, 2023 and 2022, see Note 23.

As at December 31, 2024, the contractual maturities of the bonds payable are as follows:

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