ANNUAL REPORT ‘12
NOTES TO THE FINANCIAL STATEMENTS
233
The market value of the Group’s medium/long term loans, contracted at fixed and revisable fixed interest rates is
calculated on the basis of discounted cash flows after the interest at the end of the period. In the case of the
revisable fixed rate loans, it has been assumed that they will switch to a floating rate during the next period when
interest rates are revised.
During 2012, the Group repaid the capital of loans contracted with the EIB, in the total amount of 24.4 million
euros. The payments were made by ANA, S.A. in June, September and December for the amounts of 4.7 million
euros, 13.5 million euros and 2.5 million euros, respectively. In March, ANAM, S.A. paid back 3.7 million euros related
to the EIB loan.
It is also worth noting the fact that throughout the year the rates for various loan tranches contracted with the EIB
were set, decreasing the share of revisable fixed rate loans and the corresponding increase in the proportion of
debt at fixed rates.
The conditions for existing loans are as follows:
The ANA Group has securities (ANAM, S.A. bond loan), listed on the Luxembourg stock market.
ANA, S.A. loans
EIB 97 / 98
A+B
15/09/2003
15/09/2017
Revisable fixed
Tranche A - Quarterly, Tranches B - Annual
3.81% e 4.70%
Floating
Quarterly
1.44%
C+D
15/06/2007
15/06/2018
Revisable fixed
Annual
4.30% e 4.33%
Floating
Quarterly
1.44%
E+F
15/12/2009
15/12/2020
Revisable fixed
Quarterly
3.77%
Floating
Quarterly
1.45%
EIB 02
15/09/2009
15/09/2024
Fixed
Annual
3.76%
Revisable fixed
Tranche A1 - Annual; remaining tranches - Quarterly 3.88% e 4.70%
EIB 02
15/09/2011
15/09/2026
Floating
Tranche C1 - Quarterly
1.74%
Revisable fixed
Tranche C2 - Anual
3.92%
EIB 09
15/12/2013
15/06/2034
Floating
Semester
1.51%
Revisable fixed
Semester
2.22%
Bonds
11/12/2016
11/12/2016
Floating
Annual
1.62%
Bonds
28/08/2013
28/08/2013
Fixed
Annual
4.10%
ANAM, S.A. loans
EIB 98 / 2000 - 2, 15/03/2011
15/03/2020
Floating
Quarterly
1.46%
ABN Bank
26/07/2016
26/07/2016
Floating
Semester
1.51%
BGB-Gesellschaft
24/04/2017
24/04/2017
Floating
Semester
1.55%
Bonds
29/07/2014
29/07/2014
Fixed
Annual
5.34%
2011
First
repayment
Last
repayment
Medium
interest rate
Interest
rate
Due date for interest
