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20.4 Notes to the annual financial statements
FINANCIAL INFORMATION CONCERNING ASSETS,
FINANCIAL POSITION AND FINANCIAL PERFORMANCE
20
20.4.4.11.1. Bond issues
In the framework of the partial asset contribution, all of the bonds issued by
AREVA SA were transferred to New AREVA Holding, with the exception of the
2016 bond, which was redeemed by AREVA SA on September 23, 2016.
20.4.4.11.2. Bank borrowings
Loans and borrowings came to 2,064,687 thousand euros at December 31, 2016,
mainly including:
p
bank account credit balances of 1,047 thousand euros;
p
a syndicated line of credit for 1,262,944 thousand euros, including
12,944 thousand euros of accrued interest, maturing on January 16, 2018;
p
bilateral lines of credit for 800,696 thousandeuros, including5,696 thousandeuros
of accrued interest, redeemable in 2017.
In early February 2017, AREVA SA secured and accepted a commitment from
its banking partners for “senior secured” interim financing of 300 million euros,
expected to be signed in the near future and which will mature on January 8, 2018.
Draws on this financing will be conditioned on the French State’s subscription to the
AREVA SA and New AREVA Holding capital increases. In addition to the standard
default and early redemption clauses in the event of predefined events, a default
clause is provided in the event that certain contractual risks associated with AREVA
SA’s operations were to materialize above a certain threshold.
Furthermore, AREVA SA secured the necessary consent from the lenders of the
syndicated credit of 1,250 billion euros, to have a maturity date of January 16,
2018, to proceed with the New AREVA Holding capital increase and authorizing
de facto the loss of its control. In return for this consent, the lenders of that facility
receive better terms, including an additional security and early redemption clauses,
in particular as regards the income from the sale of AREVA NP.
20.4.4.11.3. Miscellaneous loans and borrowings
At December 31, 2016, this item amounted to 2,047,307 thousand euros,
corresponding mainly to non-trade current liabilities. The companies concerned
at December 31, 2016 were mainly:
p
New AREVA Holding
1,298,750 thousand euros
p
AREVA TA
508,686 thousand euros
p
AREVA GmbH
138,240 thousand euros
p
Intercontrole
30,386 thousand euros
p
FBFC International
13,038 thousand euros
p
AREVA NP Canada
12,389 thousand euros
20.4.4.11.4 Unearned income
June 30, 2016
December 31, 2015
Unearned financial income
66,977
Unearned operating income
715
1,411
TOTAL
715
68,388
Within the framework of the partial asset contribution, unearned income relating to the bond debt was transferred to New AREVA Holding.
20.4.4.12.
ACCRUED EXPENSES
(in thousands of euros)
Note
2016
2015
Borrowings
Convertible bond issues
Other bond issues
20.4.4.12.1.
81,414
Bank borrowings
20.4.4.12.2.
18,640
88
Miscellaneous loans and borrowings
1
TOTAL BORROWINGS
18,640
81,503
Other liabilities
Trade accounts payable and related accounts
77,626
73,978
Taxes and employee-related liabilities
1,871
6,522
Accounts payable on non-current assets and related accounts
334
Other liabilities
20.4.4.12.3.
72,328
294,734
TOTAL OTHER LIABILITIES
151,825
375,568
TOTAL ACCRUED EXPENSES
170,466
457,071
288
2016 AREVA
REFERENCE DOCUMENT