243 / 386
20.2 Notes to the consolidated financial statements for the year ended December 31, 2016
FINANCIAL INFORMATION CONCERNING ASSETS,
FINANCIAL POSITION AND FINANCIAL PERFORMANCE
20
Furthermore, AREVA SA secured the necessary consent from the lenders of the
syndicated credit of 1.250 billion euros, maturing on January 16, 2018, to proceed
with the NewCo capital increase and authorize de facto the loss of control. In
return for this consent, the lenders of that facility receive better terms, including an
additional security and early repayment clauses, in particular as regards the income
from the sale of AREVA NP.
OPERATIONS HELD FOR SALE
(in millions of euros)
December 31,
2016
December 31,
2015
Operations held for sale in 2015
New NP
5
157
AREVA TA
1
0
Nuclear Measurements
-
0
Sub-total
6
157
Operations held for sale in 2016
NewCo
5,873
TOTAL (*)
5,879
157
* see note 3.
At December 31, 2016, NewCo’s borrowings included in particular:
p
bond debt outstanding in the carrying amount of 4.945 billion euros;
p
a redeemable syndicated loan from 10 banks maturing in 2024 in the amount of 555 million euros (initial amount of 650 million euros at December 31, 2016).
Bond issues after hedging
Issue date
Net carrying
amount
(in millions
of euros)
Currency
Nominal amount (in
millions of currency
units)
Nominal rate
Maturity
September 23, 2009
1,030
EUR
1,000
4.875% September 2024
November 6, 2009
768
EUR
750
4.375% November 2019
September 22, 2010
768
EUR
750
3.5% March 2021
October 5, 2011
397
EUR
398
4.625% October 2017
March 14, 2012
399
EUR
400
4.625% October 2017
April 4, 2012
199
EUR
200
TEC10
+2.125% March 2022
September 4, 2013
531
EUR
500
3.25% September 2020
September 20, 2013
65
JPY
8,000
1.156% September 2018
March 20, 2014
788
EUR
750
3.125% March 2023
TOTAL
4,945
The fair value of these bond issues was 4.867 billion euros at December 31, 2016.
Banking covenants
The redeemable syndicated loan in the amount of 555million euros at December 31,
2016 and maturing in June 2024 is backed by certain future revenue from the
Georges Besse II enrichment plant. It includes security interests in future receivables
and bank accounts, and it contains a covenant allocating cash flows to debt service
which subordinates payments to New AREVA Holding (dividends and internal loan
repayments) from Société d’Enrichissement du Tricastin.
2016 AREVA
REFERENCE DOCUMENT
243