Annual Report 2012 - ORCO Germany

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16. Borrowings, non-current financial debts, bonds and derivatives
16.1. Borrowings movements and maturity
N o n -cu r r e n t fin a n c ia l d e b ts
B a n k lo a n s
O th e r n o n -c u r re n t
b o rr o w in g s
F ix e d r a te b o n d s
T O T AL
B a la n c e a t 3 1 D e c e m b e r 2 0 1 0 3 0 8 ,2 0 9 1 7 ,5 6 7 9 4 ,1 9 2 4 1 9 ,9 6 8
Is su e o f n e w lo a n s a n d d raw d o wn s - 50 - 50
In te res ts a cc u m u la te d d u rin g th e ye a r - - 3 ,5 8 4 3 ,5 8 4
R e p a y m e n ts o f lo a n s (4,9 6 5 ) (7,8 9 3 ) - (1 2 ,8 5 8 )
T ra n sfe rs (2 7 6 ,5 5 2 ) 1 ,4 6 2
0
(97,7 7 6 ) (37 2 ,8 6 6 )
B a la n c e a t 3 1 D e c e m b e r 2 0 1 1 2 6 ,6 9 2 1 1 ,1 8 6 0 3 7 ,8 7 8
Is su e o f n e w lo a n s a n d d raw d o wn s 2 6 4 ,8 0 8 1 ,3 3 0 - 2 6 6 ,1 3 8
In te res ts a cc u m u la te d d u rin g th e ye a r - - - -
T ra n sfe rs (9,1 4 8 ) 102 2 0 ,0 0 0 1 0 ,9 5 4
T ra n sla tio n d iffe renc e s - - - -
B a la n c e a t 3 1 D e c e m b e r 2 0 1 2 2 8 2 ,3 5 2 1 2 ,6 1 8 2 0 ,0 0 0 3 1 4 ,9 7 0
No new bonds have been issued in 2011 and in 2012.
For non-current bond movements, please refer to note 16.2.
2012
Issue of new bank loans and new drawdowns (EUR 264.8 million) relates to the refinancing of GSG with 5 banks the 13 December 2012 (EUR 269.6
million) , over the period refinancing fees have been capitalized for EUR 5.1 million.(amortized till the maturity of the loan)
Transfers of bank loans (-EUR 9.1 million) are mainly related to the transfer after the refinancing of GSG of the current part of the loan (-EUR 8.6
million)
As at 31.12.2012 the other non-current borrowings amounts to EUR 12.6 million (EUR 11.2 million as at December 2011) corresponding mainly to the
equity loans from the parent company (Orco Property Group).
2011
Repayment of bank loans (EUR -5.0 million) mainly relate to the following operations:
- Sale of Brunnenstrasse (EUR -2.8 million);
- Partial reimbursement of Gebauer Hofe bank loan (EUR 2.2 million)
Transfers of bank loans (EUR -276.6 million) are mainly due:
- Reclassification of bank loans, that will fall due within twelve months (+EUR 300.0 million)
- Signature of amendment related to the loan financing the building of Gebauer Hofe (-EUR 28.9 million)
Other non-current loans consist mainly of equity loans from the parent company (Orco Property Group) for EUR 11.2 million.
Fair value of the bonds as at 31 December 2012
C a rr yin g va lu e o f b o n d s F a ir V a lu e o f b o n d s
B o nds 20 ,000 -
D erivative in strum ents on b ond s - -
B o n d s a s at 31/1 2/20 12 20 ,000 0
Fair value of the bonds as at 31 December 2011
As at 31 December 2011, the fair value of the bonds, valued by Management, amounts to EUR 118.2 million
Carrying value of
bonds
Fair Value of bonds
Bonds 97,777 95,334
Derivative instruments on bonds 22,914 22,914
Bonds as at 31/12/2011 120,691 118,248
ANNUAL CONSOLIDATED FINANCIAL STATEMENTS | 34