AMPER, SA and Subsidiaries Consolidated Financial Statements for ...
AMPER, SA and Subsidiaries Consolidated Financial Statements for ...
AMPER, SA and Subsidiaries Consolidated Financial Statements for ...
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Amount<br />
(Thous<strong>and</strong>s<br />
of euros)<br />
Amortization<br />
Maturity<br />
Tranche A 24,400 Consecutive six-monthly installments of equal amounts starting<br />
4 January 2014, following a two year grace period <strong>for</strong> capital<br />
repayment<br />
Tranche B 24,192 Consecutive six-monthly installments of equal amounts starting<br />
4 January 2014, following a two year grace period <strong>for</strong> capital<br />
repayment<br />
4.07.2018<br />
04.07.2018<br />
Contingent Tranche 4,317 Single amortization 04.12.2012<br />
Total 52,909<br />
The contingent tranche has been used in its entirety at 31 December 2011, in addition to 193 thous<strong>and</strong><br />
euros corresponding to loans of the same nature as the contingent tranche. Due to the maturity date,<br />
the contingent tranche has been accounted <strong>for</strong> as short-term debt.<br />
The reference interest rate <strong>for</strong> all of the previous tranches is Euribor plus a spread of 4%, until 31<br />
December 2013, after which it will range from 4% to 4.25% depending on the level of the ratios<br />
obtained by the Group on the basis of the restructuring agreement.<br />
In addition, the bank restructuring agreement represents the stabilization of financing facilities <strong>for</strong><br />
working capital <strong>for</strong> a period of 3 years which, on an aggregate basis, amounts to a total 54,089<br />
thous<strong>and</strong> euros. This amount corresponds to the total available limit of loan policies from the bank<br />
restructuring process (converted into loans within tranche A), of which an amount of 24,218 thous<strong>and</strong><br />
euros has been used at 31 December 2011. The average interest rate of these policies is Euribor plus a<br />
spread of 4%.<br />
Lastly, the Group has various types of bank financing:<br />
Type of<br />
financing<br />
<strong>Financial</strong> Institution<br />
Date of<br />
Granting<br />
Maturity Date<br />
Thous<strong>and</strong>s of euros<br />
Amount granted Amount drawn<br />
31.12.11<br />
Loan Novacaixa 1.10.2011 1.10.2018 3,000 3,000<br />
Loan Ibercja 4.07.2011 4.07.2018 1,000 1,000<br />
Loan Mare Nostrum 10.10.2011 10.10.2018 800 800<br />
ICO Loan Bankia 23.09.2011 23.09.2018 1,905 1,905<br />
ICO Loan Caixa Cataluña 28.09.2011 28.09.2018 1,429 1,429<br />
ICO Loan BBVA 21.09.2011 21.09.2018 3,333 3,333<br />
ICO Loan Banco Sant<strong>and</strong>er 29.09.2011 29.09.2018 3,333 3,333<br />
The companies, Medidata In<strong>for</strong>mática <strong>and</strong> eL<strong>and</strong>ia International, Inc. have drawn loans at 31<br />
December 2011 <strong>for</strong> an amount of 8,576 thous<strong>and</strong> euros <strong>and</strong> 11,862 thous<strong>and</strong> euros, respectively<br />
(almost the entire amount granted), classified under the heading “current financial debt”. In addition,<br />
these companies have taken out loans with long-term maturities (2015 <strong>and</strong> following) <strong>for</strong> an amount of<br />
1,435 thous<strong>and</strong> euros <strong>and</strong> 20,113 thous<strong>and</strong> euros, respectively, recorded under the heading “noncurrent<br />
financial debt”.<br />
At 31 December 2011, the Group had an available (limit) of 80,206 thous<strong>and</strong> euros (119,746 thous<strong>and</strong><br />
in 2010) in the credit lines contracted, of which 21,068 thous<strong>and</strong> euros correspond to import financing<br />
<strong>and</strong> 59,138 thous<strong>and</strong> euros to loan policies.<br />
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