SOL MELIA ANNUAL REPORT 00 COMP

NON-TRADE DEBTS
As indicated in Note 27, on February 9, 2001 bonds with five-year maturities were issued for Euros 340 million to finance
the operations carried out during the current year, which were applied to repay the balances used of nearly all the shortterm
credit lines. Therefore, all the balances of the credit lines maturing in less than one year used to finance these operations
have been reclassified to long-term in order to give a true and fair view of the Group’s net financial position in the
presentation of the financial statements.
On the formulation date of these annual accounts, the loan of Inmobiliaria Bulmes, S.A. with B.B.V.A. for Ptas. 1,314
million was cancelled and a new loan was granted by EURO HYPO for Ptas. 8,240 million which matures in 2018. For
this reason, this balance was reclassified to long-term to better reflect the Group’s net financial position in the notes to the
consolidated annual accounts.
The breakdown of maturities in millions of pesetas is as follows:
(Thousands of pesetas)
YEAR
AMOUNT
2001 24.805
2002 14.540
2003 12.344
2004 9.580
2005 and following 64.679
TOTAL 125.948
The average interest rate accrued by the aforementioned loans plus the issue of bonds during the current year is 5.67%.
S OL
M ELIÁ
A NNUAL R EPORT 2000
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