Company: AKO-B
Filing Date: 2025-03-26
Form Type: 20-F
Source: 0001410578-25-000473
Chunk: 156

Company: ANDINA BOTTLING CO INC
Filing Date: 2025-03-26
Form: 20-F
Item: Item 11
Chunk 156
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ITEM 11.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
The main sources of systematic risks that the Company is exposed to are: changes in interest rates and changes in currency exchange rates.
Particularly, interest rates increase, and currency exchange rates depreciation may affect the Company financial strategy given the various currency denominated debt the Company currently holds. To protect the Company against market volatility, hedging policies have been set with the objective to regulate the use of financial derivatives by management. The use of these instruments had been strictly designed for hedging purposes, leaving out any speculation and trading use.
Interest Rate Risk
The Company’s debt is mainly denominated in UF (local inflation indexed Chilean currency), U.S. dollar fixed rate bond and CHF Swiss franc fixed rate bond. Bank debt represents a smaller proportion of the total debt and it’s denominated in various local currencies in either fixed or variable rates. Given that the main portion of the debt is in fixed rate, the main risk is the interest rate increase at the moment of refinancing mature debt.
On the other hand, our cash is invested in certain short-term securities mainly in fixed interest rate.

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The following table provides information about the Company’s debt (bonds & bank debt) and short-term investments that have exposure to changes in interest rates as of December 31, 2024.

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​                                                                                                                                    Expected Maturity Date       Fair Value
​                                                                     ​   ​    ​        ​    ​       ​    ​       ​    ​       2030                       ​   ​   ​         
​                                                          2025           2026          2027         2028         2029              Onwards           Total       Total     
​                                                                                                                                                          (in millions Ch$)
Interest Earning Assets                                    ​          ​   ​    ​        ​    ​       ​    ​       ​    ​       ​    ​         ​           ​   ​   ​         
Short term investments - Chile - CLP                            118,091        —        ​    —       ​    —       ​    —       ​    —         ​     118,091       ​         
Interest rate (weighted average)                           9.10           %    0.00     %    0.00    %    0.00    %