SOL MELIA ANNUAL REPORT 00 COMP

24 Guarantees, commitments and contingencies
The parent company has not booked any specific provision to cover the possible contingencies derived from Egeda’s claims
since management does not consider that such claims may prosper. In any case, it is assumed that the general provision for
liabilities and charges would cover such contingency.
The guarantee deposits maintained as guarantees given to third parties and other contingent liabilities are detailed below:
(Thousands of pesetas)
AMOUNT
Security deposits for rentals 346,362
Guarantee deposits for tax settlements 1,284,846
Sundry 2,311,646
Guarantee deposits in favour of third parties on behalf of Agotel GMBH 142,659
Pledged deposit in favour of Mirador del Duque, S.L. 1,400,000
Guarante deposit on loans granted to Community of Owners Meliá Castilla 375,000
Pledged deposits for loans granted to Inmotel Inversiones Italia 2,062,320
Credit line for guaranteeing factoring 1,346,576
TOTAL 9,269,409
Sol Meliá, S.A. guarantees with the Company’s Total Equity the issue of debentures amounting to Euros 200 million (See
Note 22) of September 15, 1999 and the issue of bonds of Euros 206 million of December 9, 2000. The latter was integrated
in the issue of bonds of Euros 340 million of February 2001 (See Note 27).
Sol Meliá, S.A. is the guarantor of Detur Panamá, S.A., owner of Hotel Meliá Panamá Canal, with Banca March, for
51.79% of a credit line of US-$ 10 million, US-$ 8.9 million of which were used at December 31. The guaranteed amount
therefore amounts to US-$ 4.6 million.
Sol Meliá, S.A. secures with BBVA through mortgages on owned hotels and via personal guarantee a bank guarantee line
of Ptas. 1,500 million. These guaranteed credit lines have not been used either by the Company or its subsidiaries. The
maturity date is December 19, 2001.
Sol Meliá, S.A. is the guarantor, by deposit pledged in favour of Mirador del Duque, S.L., for a loan granted to the latter to build a hotel.
A confirming line was granted to Sol Meliá for a maximum of Ptas. 4,000 million.
Sol Meliá is the guarantor with Banco Central Hispano for two loans granted for US-$ 10 and 5 million, respectively.
The shares of Inversiones Hoteleras Los Cabos are pledged to guarantee a loan granted by Bancomex to its subsidiary
Aresol Cabos, S.A. de C.V. which matures in 2004.
The shares of Desarrollos Inmobiliarios Guanacaste and Desarrollos Hoteleros Guanacaste are deposited as guarantee for
a loan received by Desarrollos Hoteleros Guanacaste.
S OL
M ELIÁ
A NNUAL R EPORT 2000
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