TECHNICOLOR_REGISTRATION_DOCUMENT_2017
- 6 FINANCIAL STATEMENTS
Notes to the consolidated financial statements
Borrowings 8.3. The Group’s debt consists primarily of Term Loan Debt in U.S. dollars and in euros, issued by Technicolor SA in December 2016 and March 2017 and maturing in 2023 and a loan from the European Investment Bank (“EIB”) issued by Technicolor SA in January 2017.
The proceeds from the term loans issued in March 2017 in the amounts of €275 million and $300 million were used to fully prepay the remaining Old Term Loan Debt issued by Tech Finance & Co. S.C.A in 2013, 2014 and 2015 and maturing in 2020.
Analysis by nature 8.3.1.
2017 1,058
2016 1,022
(in million euros)
Debt due to financial institutions
Bank overdrafts
-
-
Other financial debt
35
22
Accrued interest
4
6
DEBT UNDER IFRS
1,097
1,050
Total non-current
1,077
998
Total current
20
52
Summary of debt 8.3.2. Details of the Group’s debt as of December 31, 2017 are given in the table below:
IFRS Amount (see note 8.3.3.4)
Nominal Amount
Nominal rate
Effective rate (1) Repayment Type Final maturity
Currency
Type of rate
(in million currency) Term Loan Debt Term Loan Debt Term Loan Debt
USD 249
248 273 447
Floating (2) Floating (3) Floating (4) Fixed rate
4.23% 3.00% 3.50%
4.35% 3.11% 3.63%
Amortizing December 2023
EUR EUR EUR
275 450
Bullet Bullet Bullet
December 2023 December 2023
EIB Loan
90
90
2.54% 2.54% 3.46% 3.57% 3.25% 3.25% 3.45% 3.56%
January 2023
Total
EUR 1,064
1,058
- -
- -
- -
Other Debt (5)
EUR
39
39
TOTAL
EUR 1,103 1,097
Rates as of December 31, 2017.- (1) 3 month LIBOR with a floor of 0% +275bp. (2) 3 month EURIBOR with a floor of 0% +300bp. (3) 3 month EURIBOR with a floor of 0% +350bp. (4) Of which €4 million is accrued interest. (5)
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TECHNICOLOR
REGISTRATION DOCUMENT 2017
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