CORRAL PETROLEUM HOLDINGS AB (PUBL) - Preem

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civil liability, whether or not predicated solely upon the U.S. securities laws, would not be enforceable in Sweden.13
CAPITALIZATIONThe following table sets out our historic consolidated capitalization and cash and cash equivalents as ofDecember 31, 2010. You should read this table in conjunction with “Selected Consolidated Financial Data,”“Description of Certain Indebtedness,” “Management’s Discussion and Analysis of Financial Condition and Results ofOperations” and our audited annual consolidated financial statements and the related notes, which are included elsewherein this Annual Report.There have not been material changes to our capitalization since December 31, 2010.As of December 31, 2010SEK € (1) $ (1)(in millions)Cash and cash equivalents.......................................................... 603 67 89Current Debt:Current portion of 2008 Credit Facility..................................... 9,671 1,074 1,422Senior Secured Notes (2) ............................................................. 3,947 438 580Total current debt (4) ................................................................... 13,618 1,513 2,002Long-term debt:2008 Credit Facility (5) ................................................................ — — —Subordinated Notes (6) ............................................................... 1,012 112 149Total debt ..................................................................................... 14,630 1,625 2,151Net debt ........................................................................................ 14,027 1,558 2,062(1) We have translated kronor into dollars and euros at the rate of $1.00=SEK 6.8025 and €1.00=SEK 9.002 (each of theexchange rates on December 31, 2010). We have provided this translation solely for your convenience.(2) We have translated the €236 million and $267 million outstanding debt of the Senior Secured Notes as of December 31,2010 into kronor at the rate of €1.00=SEK 9.002 and $1.00=SEK 6.8025 (the exchange rates on December 31, 2010). Wehave provided this translation solely for your convenience.(4) Total current debt represents debt that is due within 12 months under the 2008 Credit Facility and all amounts due under theSenior Secured Notes.(5) Represents debt under the 2008 Credit Facility that is due beyond one year from the period presented and is represented inour audited annual consolidated financial statements under long-term debt “Borrowings,” but excludes deferred transactionexpenses.(6) We have translated the €84 million and $37 million outstanding debt of the Subordinated Notes as of December 31, 2010into kronor at the rate of €1.00=SEK 9.002 and $1.00=SEK 6.8025 (the exchange rates on December 31, 2010). We haveprovided this translation solely for your convenience.14
Page 2: TABLE OF CONTENTSDisclosure Regardi
Page 5: which was merged into Preem on Octo
Page 8 and 9: RISK FACTORSThe risk factors below
Page 10 and 11: the cost of exploring for, developi
Page 12 and 13: purchase a minimum of 10% to 20% of
Page 14 and 15: market price at the time of settlem
Page 16 and 17: Notes, we would try to obtain waive
Page 18 and 19: are reasonable grounds for believin
Page 22 and 23: SELECTED CONSOLIDATED FINANCIAL DAT
Page 24 and 25: MANAGEMENT’S DISCUSSION AND ANALY
Page 26 and 27: Year ended December 31,%2008 2009 C
Page 28 and 29: arrel in February, increased to app
Page 30 and 31: (1) Includes sales by our supply an
Page 32 and 33: SEK 5,519 million, from a loss of S
Page 34 and 35: Cash flow used in investment activi
Page 36 and 37: Restrictions on transfers of fundsW
Page 38 and 39: Variable rate debt—amount due .
Page 40 and 41: As of December 31, 2008, SEK 21,999
Page 42 and 43: Our StrengthsOur competitive streng
Page 44 and 45: Lysekil has a total storage capacit
Page 46 and 47: Unfinished and Blend Stocks........
Page 48 and 49: Heating Oil .......................
Page 50 and 51: Business-to-Business DivisionWe pre
Page 52 and 53: “.nu,” “.org,” “.biz,”
Page 54 and 55: Energy AB, Huda Trading AB, the Swe
Page 56 and 57: was incorporated on March 22, 2007,
Page 58 and 59: RELATED PARTY TRANSACTIONSCapital T
Page 60 and 61: DESCRIPTION OF CERTAIN INDEBTEDNESS
Page 62 and 63: effected by the Third Supplemental
Page 64 and 65: first ranking mortgage certificates
Page 66 and 67: LEGAL INFORMATIONCorral Petroleum H
Page 68 and 69: CORRAL PETROLEUM HOLDINGS AB (publ)
Page 70 and 71:
CORRAL PETROLEUM HOLDINGS AB (publ)
Page 72 and 73:
Page 74 and 75:
Page 76 and 77:
SubsidiariesSubsidiaries are compan
Page 78 and 79:
The refinery installations consist
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of occupational pension insurance,
Page 82 and 83:
Emission rights 2010LysekilGothenbu
Page 84 and 85:
NOTE 2. FINANCIAL RISK MANAGEMENTTh
Page 86 and 87:
In addition to price risk managemen
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The fair value of borrowing is calc
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Reconciliation with the Group’s t
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The Board members including the Cha
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NOTE 12. EXPENSES BROKEN DOWN BY TY
Page 96 and 97:
NOTE 16. EXCHANGE RATE DIFFERENCES
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Equipment, tools, fixtures and fitt
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NOTE 23. TRADE AND OTHER RECEIVABLE
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The change in the fair value of pla
Page 104 and 105:
Loan conditions, effective interest
Page 106 and 107:
Capitalized interest cost..........
Page 108:
SalesDecember 31, 2009AccountsPurch
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