A N N U A L R E P O R T A N D A C C O U N T S - CMVM

Notes to the Consolidated Financial Statements at 31 st December 2008
• Credit cession contract signed on the 30 th May 2006 with Banco Comercial Português, amounting to 2,051 thousand Euros, signed on the
30 th May 2006. The Group assumes the risk of the non-payment of the credits assigned thirty days after the limit payment deadline, the 30 th
June 2009. The charges for this operation shall be borne by the customer.
• Loan with Banco Bilbao Vizcaya Argentaria, contracted on the 12 th April 2007, amounting to 75,000 thousand Euros, to be reimbursed on
the 16 th March 2012.
• Loan contracted by the Group on the 29 th June 2007 with Caixa Geral de Depósitos, for 342,500 thousand Euros, to be reimbursed on the
29 th May 2012.
• Loan with Banco Popular Portugal, contracted on the 18 th December 2008, for 25,000 thousand Euros, to be reimbursed on the 18 th
December 2011.
• Loan contracted by the Group on the 30 th December 2008 with Caixa Geral de Depósitos, for 50,000 thousand Euros, to be reimbursed in
180 monthly equal and successive instalments, ending on the 30 th December 2023.
• Loan contracted by the Group on the 31 st December 2008 with Caixa Geral de Depósitos, amounting to 117,000 thousand Euros, to be
reimbursed on the 30 th November 2013.
On the 31 st December 2008 and 2007, bank loans also include guaranteed accounts amounting to 295,489 and 163,036 thousand Euros,
respectively.
c) Commercial paper
On the 31 st December 2008, the Group has negotiated the following commercial paper programs:
• Grouped program of commercial paper issues, by particular subscription contracted with Banco Comercial Português on the 14 th October
2005, for the global amount of 150,000 thousand Euros, in which takes part Teixeira Duarte - Engenharia e Construções, S.A. and its
associated company Teixeira Duarte - Gestão de Participações de Investimentos Imobiliários, S.A., for the amounts of 15,000 thousand
Euros and 135,000 thousand Euros, respectively. The holding of each company in the program may be variable in each of the
programme’s utilization, with Teixeira Duarte - Engenharia e Construções, S.A. having to hold, at least, 10% of the total value. Sixteen
half-yearly and successive issues are contracted for the total nominal value of the program, with interest maturing half-yearly and
subsequently at a rate indexed to Euribor at six months plus a spread of 0.875%, with the reimbursement of the last issue taking place
on the 14 th October 2013.
• Grouped programme of commercial paper issues contracted with Banco Espirito Santo de Investimento and Banco Espirito Santo on the
16 th December 2005, amounting to 50,000 thousand Euros, in which takes part Teixeira Duarte - Engenharia e Construções, S.A. and its
associated company Teixeira Duarte - Gestão de Participações de Investimentos Imobiliários, S.A., being the total amount used by Teixeira
Duarte - Gestão de Participações de Investimentos Imobiliários, S.A.. The holding of each company in the programme may be variable in
each of the programme’s utilization. The programme has the duration of five years minus one day, counting from the contract signature
date. Interest matures in anticipation, being the intervention rate indexed to Euribor from one to six months plus 0.65%, determined in
accordance with the realization of each auction.
• Grouped programme of commercial paper issues, by particular subscription contracted with Banco Comercial Português on the 6 th
January 2006, for the used amount of 25,000 thousand Euros, in which takes part Teixeira Duarte - Engenharia e Construções, S.A.
and its associated company Teixeira Duarte - Gestão de Participações de Investimentos Imobiliários, S.A., for the amounts of 22,500
thousand Euros and 2,500 thousand Euros, respectively. Each company’s holding in the program may vary in each of its uses, with
Teixeira Duarte - Engenharia e Construções, S.A. having to participate, at least, with 10% of the total value. The program has
the duration of five years, counting from the contract signature date, with interest maturing half-yearly and subsequently, being
the intervention rate indexed to Euribor from one to six months, by a competitive auction from 7 to 180 days by direct placement, plus
0.40%, determined in accordance with the realization of each auction, with the reimbursement of the last issue taking place on the
6 th January 2011.
• Grouped programme of commercial paper issues contracted with Banco Comercial Português on the 14 th February 2006, for the global
amount of 50,000 thousand Euros, in which takes part Teixeira Duarte - Engenharia e Construções, S.A. and its associated company
Teixeira Duarte - Gestão de Participações de Investimentos Imobiliários, S.A., for the amounts of 5,000 thousand Euros and 45,000
thousand Euros, respectively. Each company’s participation in the program may vary in each of its uses, with Teixeira Duarte - Engenharia
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