TAV IT

TAV AIRPORTS HOLDING AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS AT AND FOR THE YEAR ENDED 31 DECEMBER 2008
(Amounts expressed in Euro unless otherwise stated)
ATÜ
The breakdown of bank loans as at 31 December 2008 is as follows:
Original
Currency
Year of
Maturity
Nominal
Interest Rate
Face
Value
Carrying
Amount
Secured bank loan EUR 2018 7.00% 9,996,250 10,277,071
Secured bank loan EUR 2015 Euribor + 2.70% 7,585,434 7,338,949
Secured bank loan EUR 2015 Euribor + 2.70% 7,585,434 7,338,949
25,167,118 24,954,969
The breakdown of bank loans as at 31 December 2007 is as follows:
Original
Currency
Year of
Maturity
Nominal
Interest Rate
Face
Value
Carrying
Amount
Secured bank loan EUR 2015 Euribor+2.70% 8,417,895 8,478,794
Secured bank loan EUR 2015 Euribor+2.70% 8,417,895 8,478,794
16,835,790 16,957,588
Redemption schedules of the ATÜ bank loans as at 31 December 2008 and 2007 are as follows:
31 December 2008 31 December 2007
On demand or within one year 3,474,037 3,142,076
In the second year 3,301,553 2,484,340
In the third year 3,601,976 2,476,289
In the fourth year 3,577,281 2,204,797
In the fifth year 3,164,670 1,975,469
After five years 7,835,452 4,674,617
24,954,969 16,957,588
TAV Tbilisi
The breakdown of bank loans as at 31 December 2008 is as follows:
Original
Currency
Year of
Maturity
Nominal
Interest Rate
Face
Value
Carrying
Amount
Secured bank loan USD 2015 Libor+4.50% 10,512,791 10,666,319
Secured bank loan USD 2015 Libor+4.50% 10,512,791 10,662,690
21,025,582 21,329,009
Pledges regarding the bank loans
a) Share pledge-to take control of 75 percent plus one share of the charter capital of the Company;
b) Revenue pledge-to take control of the revenues derived from Tbilisi International Airport operations as stipulated in the BOT
Agreement;
c) Pledge over bank accounts-to take control the Company’s bank accounts in JSC Bank of Georgia, JSC Bank Republic and JSC TBC
Bank and be entitled to set-off and apply the whole or any part of the cash standing to the credit of the accounts and any interests,
proceeds and other income that may accrue or arise from the accounts;