Annual Report 2012 - ORCO Germany

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In 2012
The repayments of loans are mainly related to the refinancing of GSG for EUR 300.4 million and repayments of loans upon sales of assets and
development for EUR 108.0 million of which Sky Office (EUR 96.0 million) , Ku-Damm 102 (EUR 6.5 million) and Hüttenstrasse (EUR 4.3 million).
The transfer is mainly related to the transfer of current part of the non-current loans for EUR 9.1 million of which GSG (EUR 8.6 million).
Following the bonds’ restructuring the remaining part is transferred to the long term as the updated maturity is 30 May 2050.
In 2011
The issuance of new loans mainly relates to further drawdowns on Sky Office credit line for EUR 1.3 million.
The repayments of loans are mainly related to the repayments of the loans financing Leipziger Platz (EUR 66.0 million) and Invalidenstrasse (EUR 3.9
million).
The transfers of bank loans and fix rate bonds from long term are mainly explained as follow:
- Reclassification of bank loans, that will fall due within twelve months (EUR 300.0 million) related to GSG
- Settlement of long term bank loan covenant breaches from 31 December 2010 which led to the reclassification of bank loans into long
term debts for EUR 28.9 million related to Gebauer Hofe.
The transfer of bank loans are mainly explained by the settlement of long term bank loan covenant breaches from 31 December 2009, which led to the
reclassification of 1 bank loan into long term debts for EUR 2.9 million:
Finally, EUR 96.8 million of bank loans due in 2010 have been extended to 2011, following the renegotiation with the banks.
ANNUAL CONSOLIDATED FINANCIAL STATEMENTS | 41