2013-vinci-annual-report

Holding companies
(in € millions) Currency interest rate
Contractual
31/12/2013 31/12/2012
Maturity
Nominal
remaining
due
Carrying
of which
accrued interest
amount not matured
Nominal
remaining
due
Carrying
amount
Bonds 3,119 3,223 62 2,169 2,325
VINCI SA 3,119 3,223 62 2,169 2,325
of which:
February 2013 bond € E3M February 2015 300 300 – – –
April 2013 bond € E3M April 2016 500 500 1 – –
December 2011 bond and supplement
in January 2012
€ 4.1% February 2017 1,000 1,065 36 1,000 1,091
March 2012 bond € 3.4% March 2020 750 785 19 750 802
260 VINCI 2013 ANNUAL REPORT
Other bank loans and other financial debt – (8) – – (10)
VINCI SA (*) – (8) – – (10)
–
Long-term financial debt 3,119 3,215 62 2,169 2,315
(*) Net of arrangement commissions relating to the undrawn VINCI syndicated credit facility, recognised as a reduction in debt.
21.2 Resources and liquidity
At 31 December 2013, the Group’s available resources amounted to €10.4 billion, including €4.1 billion net cash managed (see Note E.21.2.2
“Net cash managed”) and €6.3 billion of available, confirmed medium-term bank credit facilities (see Note E.21.2.3 “Revolving credit
facilities”).
21.2.1 Maturity of debts
On the basis of interest rates at 31 December 2013, the Group’s debt and associated interest payments break down as follows, by maturity
date:
Capital and
interest
payments
31/12/2013
Between
6 months
and 1 year
(in € millions)
Carrying
amount
Within 3
months
Between 3
and 6 months
Between 1
and 2 years
Between 3
and 5 years After 5 years
Bonds
Capital (11,663) (10,957) – (1) (50) (450) (3,395) (7,062)
Interest payments – (3,345) (182) (125) (170) (472) (1,294) (1,102)
Other bank loans
and other financial debt
– – – – – –
Capital (6,905) (6,808) (33) (563) (291) (882) (3,201) (1,839)
Interest payments – (908) (71) (70) (91) (193) (330) (154)
Finance lease debt – – – – – –
Capital (87) (86) (9) (9) (14) (20) (27) (7)
Interest payments – (8) (1) (1) (2) (2) (2) (2)
Subtotal: long-term financial debt (18,655) (22,113) (295) (768) (617) (2,018) (8,249) (10,165)
Commercial paper (969) (969) (969) – – – – –
Other current financial liabilities (10) (10) (10) – – – – –
Bank overdrafts (653) (653) (653) – – – – –
Financial current accounts, liabilities (51) (51) (51) – – – – –
I - Financial debt (20,337) (23,796) (1,978) (768) (617) (2,018) (8,249) (10,165)
II - Financial assets 5,793 (*)
Derivative financial instruments – liabilities (461) (237) – (40) (34) (71) (138) 45
Derivative financial instruments – assets 902 1,222 55 70 58 183 482 373
III - Derivative financial instruments 441 985 56 30 24 112 344 419
Net financial debt (I + II + III) (14,104) –
Trade payables (7,493) (7,493) (6,676) (397) (221) (72) (109) (19)
(*) Including €5,731 million at less than three months, consisting mainly of €3,469 million of cash equivalents and €2,136 million of cash (see Note E.21.2.2 “Net cash managed”).
At 31 December 2013, the average maturity of the Group’s long-term financial debt was 5.7 years (6.1 years at 31 December 2012). The average
maturity was 6.2 years in Concession subsidiaries, 3.7 years for holding companies (including VINCI Immobilier) and 3.9 years in
Contracting.