8 Financial expense
CHF million | 1st half-year | 1st half-year | ||
Expense for derivatives | –6.6 | –14.6 | ||
Interest expense for bond issues | –4.7 | –5.0 | ||
Interest expense payable to banks/insurance companies for liabilities | –3.4 | –3.3 | ||
Capitalised building loan interest | 0.3 | 0.4 | ||
Financial expense | –14.4 | –22.5 |
Interest expense for derivatives is in connection with the recycling of hedging reserves, CHF 6.6 million of which was charged to the income statement as non-cash expense in the period under review.