Financial Statements - Entel

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EMPRESA NACIONAL DE TELECOMUNICACIONES S.A. & SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFor Transalation Purposes OnlyEXPIRY OF FINANCIAL LIABILITIESOn 12/31/2011NOMINAL VALUESACCOUNTING VALUESCreditor Type of Total debt Term in days Term in years Total debtTerm in days Term in yearsLiability Th.CLP$ 0–90 days 91 days – 1 year 1–3 3–5 5+ Th.CLP$ 0–90 days 91 days – 1 year 1–3 3–5 5+Banco de Crédito e Inversiones Loans 448,197 448,197 - - - - 448,197 448,197 - - -Citibank N.A. (syndicated) Loans 211,306,353 506,934 1,360,268 209,439,151 - - 206,949,289 75,803 206,873,486The Bank of Tokyo-Mitsubishi UFJ, Ltd (deal) Loans 53,293,443 136,209 340,067 52,817,167 - - 51,164,797 51,974 51,112,823Scotiabank & Trust (Cayman) Ltd (deal) Loans 53,293,443 136,209 340,067 52,817,167 - - 51,164,797 51,974 51,112,823Banco de Crédito e Inversiones Loans 341,752 29,292 87,878 224,582 - - 316,176 25,250 77,766 213,160Claro Comunicaciones S.A. (Telmex S.A.) Loans 3,305,099 472,157 - 944,314 944,314 944,314 2,366,444 256,229 584,731 696,308 829,176Deutsche Bank (Chile) Hedge derivatives 17,622,114 344,410 885,165 16,392,539 - - 15,836,513 52,928 15,783,585Banco Santander - Chile Hedge derivatives 8,863,497 173,675 446,361 8,243,461 - - 7,969,026 26,686 7,942,340Banco de Chile Hedge derivatives 1,506,385 120,646 307,908 1,077,831 - - 801,597 18,175 783,422Scotiabank Chile Hedge derivatives 8,910,091 181,357 433,424 8,295,310 - - 8,215,454 27,850 8,187,604Scotiabank Chile Hedge derivatives 2,341,189 176,306 449,520 1,715,363 - - 1,171,908 26,588 1,145,320Deutsche Bank (Chile) Non-hedge derivatives 7,947,800 172,205 7,775,595 - - - 7,639,044 26,464 7,612,580 - - -Banco Santander - Chile Non-hedge derivatives 3,996,417 86,837 3,909,580 - - - 3,823,393 13,343 3,810,050 - - -Scotiabank Chile Non-hedge derivatives 4,104,206 90,678 4,013,528 - - - 3,920,424 13,925 3,906,499 - - -Banco Bice Non-hedge derivatives 49,000 - 49,000 - - - 0 - - -Banco de Crédito e Inversiones Non-hedge derivatives 1,059,480 184,000 875,480 - - - 168,039 168,039 - - -Banco Bilbao Vizcaya Argentaria, Chile Non-hedge derivatives 244,250 76,050 168,200 - - - 56,847 56,847 - - -Corpbanca Non-hedge derivatives 140,725 63,225 77,500 - - - 50,366 50,366 - - -Banco de Chile Non-hedge derivatives 162,780 98,280 64,500 - - - 97,118 97,118 - - -Banco Santander - Chile Non-hedge derivatives 1,800 1,800 - - - - 0 - - -Banco del Estado de Chile Non-hedge derivatives 352,950 - 352,950 - - - 0 - - -HSBC Bank (Chile) Non-hedge derivatives 190,700 - 190,700 - - - 0 - - -JP Morgan Chase Bank, N.A. Non-hedge derivatives 89,400 7,500 81,900 - - - 7,580 3,997 3,583 - - -Banco de Crédito e Inversiones Non-hedge derivatives 1,140 1,140 - - - - 54 54 - - -Banco Bilbao Vizcaya Argentaria, Chile Non-hedge derivatives 4,600 4,600 - - - - 1,676 1,676 - - -Corpbanca Non-hedge derivatives 500 500 - - - - 0 - - -Deutsche Bank (Chile) Non-hedge derivatives 30,000 30,000 - - - - 20,719 20,719 - - -Banco del Estado de Chile Non-hedge derivatives 6,780 6,780 - - - - 0 - - -HSBC Bank (Chile) Non-hedge derivatives 21,150 21,150 - - - - 11,314 11,314 - - -Scotiabank Chile Non-hedge derivatives 11,240 11,240 - - - - 3,234 3,234 - - -Consorcio Nacional de Seguros S.A. Financial Leasing 9,447,934 497,248 1,396,275 3,723,401 2,108,482 1,722,528 7,574,475 349,220 989,662 2,936,271 1,713,240 1,586,082Chilena Consolidada Seguros de Vida S.A. Financial Leasing 1,455,908 54,597 163,790 436,772 436,772 363,977 1,121,327 32,042 100,110 298,671 351,163 339,341Banco Bice Financial Leasing 1,023,873 41,508 124,525 332,067 332,067 193,706 805,608 25,522 79,698 237,442 278,616 184,330Bice Vida Cía. de Seguros de Vida S.A. Financial Leasing 454,968 23,533 70,598 188,263 172,574 - 382,639 16,677 51,882 152,972 161,108 -Trade accounts payable and other Commercial credit 326,224,772 326,224,772 - - - - 326,224,772 326,224,772 - - -TOTALS 718,253,936 330,423,035 23,964,779 356,647,388 3,994,209 3,224,525 698,312,827 328,176,983 16,631,830 347,364,650 3,200,435 2,938,929- 40 -
For evaluation purposes, the profiles of the expiry dates for nominal flows of Other Financial Assetsdetailed in the table above has taken into account capital and interest payment flows (withoutdiscounting values) for financial debts and the compensation value of financial derivatives withnegative balances in line with the exchange rates at the close of the period.The breakdown of Other Financial Liabilities included in the above tables is provided below,detailing each of the debtor Group companies, alongside the respective creditor, country of originand the financial conditions for these liabilities.On 12/31/2012Debtor Debtor Debtor by Creditor Creditor Creditor by Currency Type of Effective NominalTax ID entity Country Tax ID Country Amortization Rate rate92.580.000-7 Entel S.A. Chile 97.006.000-6 Banco de Crédito e Inversiones Chile CLP Monthly 8.64% Current92.580.000-7 Entel S.A. Chile 0-E Citibank N.A. (syndicated) USA USD Deferred annual 5.02% Libor USD90 d + 0.325%92.580.000-7 Entel S.A. Chile 0-E The Bank of Tokyo-Mitsubishi UFJ, Ltd (deal) USA USD Deferred annual 2.24%, 2.83% Libor USD90 d + 0.95%, 1.3%92.580.000-7 Entel S.A. Chile 0-E Scotiabank & Trust (Cayman) Ltd (deal) Cayman Islands USD Deferred annual 2.24%, 2.83% Libor USD90 d + 0.95%, 1.3%92.580.000-7 Entel S.A. Chile 0-E Mizuho Corporate Bank, Ltd. USA USD Deferred annual 2.83% Libor USD 90D + 1.3%92.580.000-7 Entel S.A. Chile 0-E HSBC Bank USA, National Association USA USD Deferred annual 2.83% Libor USD 90D + 1.3%92.580.000-7 Entel S.A. Chile 88.381.200-K Claro Comunicaciones S.A. (Telmex S.A.) Chile UF Annual 9.12% 8.70%92.580.000-7 Entel S.A. Chile 96.929.050-2 Deutsche Bank (Chile) Chile UF Deferred annual - -92.580.000-7 Entel S.A. Chile 97.036.000-K Banco Santander - Chile Chile UF Deferred annual - -92.580.000-7 Entel S.A. Chile 97.004.000-5 Banco de Chile Chile CLP Deferred annual - -92.580.000-7 Entel S.A. Chile 97.018.000-1 Scotiabank Chile Chile UF Deferred annual - -92.580.000-7 Entel S.A. Chile 97.018.000-1 Scotiabank Chile Chile CLP Deferred annual - -92.580.000-7 Entel S.A. Chile 97.006.000-6 Banco de Crédito e Inversiones Chile CLP - -92.580.000-7 Entel S.A. Chile 97.032.000-8 Banco Bilbao Vizcaya Argentaria, Chile Chile CLP - - -92.580.000-7 Entel S.A. Chile 97.023.000-9 Corpbanca Chile CLP - - -92.580.000-7 Entel S.A. Chile 97.004.000-5 Banco de Chile Chile CLP - - -92.580.000-7 Entel S.A. Chile 97.036.000-K Banco Santander - Chile Chile CLP - - -92.580.000-7 Entel S.A. Chile 97.030.000-7 Banco del Estado de Chile Chile CLP - - -92.580.000-7 Entel S.A. Chile 97.951.000-4 HSBC Bank (Chile) Chile CLP - - -92.580.000-7 Entel S.A. Chile 97.018.000-1 Scotiabank Chile Chile CLP - - -92.580.000-7 Entel S.A. Chile 0-E Bank of America N.A. USA CLP - - -92.580.000-7 Entel S.A. Chile 97.043.000-8 JP Morgan Chase Bank, N.A. Chile CLP - - -96.806.980-2 Entel PCS S.A. Chile 97.032.000-8 Banco Bilbao Vizcaya Argentaria, Chile Chile CLP - - -96.806.980-2 Entel PCS S.A. Chile 97.023.000-9 Corpbanca Chile CLP - - -96.806.980-2 Entel PCS S.A. Chile 97.004.000-5 Banco de Chile Chile CLP - - -96.806.980-2 Entel PCS S.A. Chile 97.036.000-K Banco Santander - Chile Chile CLP - - -96.806.980-2 Entel PCS S.A. Chile 97.030.000-7 Banco del Estado de Chile Chile CLP - - -96.806.980-2 Entel PCS S.A. Chile 97.951.000-4 HSBC Bank (Chile) Chile CLP - - -96.806.980-2 Entel PCS S.A. Chile 97.018.000-1 Scotiabank Chile Chile CLP - - -92.580.000-7 Entel S.A. Chile 99.012.000-5 Consorcio Nacional de Seguros S.A. Chile UF Monthly 8.03% 8.03%92.580.000-7 Entel S.A. Chile 99.185.000-7 Chilena Consolidada Seguros de Vida S.A. Chile UF Monthly 8.43% 8.43%92.580.000-7 Entel S.A. Chile 97.080.000-K Banco Bice Chile UF Monthly 8.32% 8.32%92.580.000-7 Entel S.A. Chile 96.656.410-5 Bice Vida Cía. de Seguros de Vida S.A. Chile UF Monthly 7.52% 7.52%On 12/31/2011Debtor Debtor Country Creditor Creditor Country Currency Type of Rate NominalTax ID entity Of Debtor Tax ID of Creditor Amortization cash rate92.580.000-7 Entel S.A. Chile 97.006.000-6 Banco de Crédito e Inversiones Chile CLP Monthly 6.37% Current + 1.2%92.580.000-7 Entel S.A. Chile 0-E Citibank N.A. (syndicated) USA USD Deferred annual 5.02% Libor USD90 d + 0.275%92.580.000-7 Entel S.A. Chile 0-E The Bank of Tokyo-Mitsubishi UFJ, Ltd (deal) USA USD Deferred annual 2.24% Libor USD90 d + 0.95%92.580.000-7 Entel S.A. Chile 0-E Scotiabank & Trust (Cayman) Ltd (deal) Cayman Islands USD Deferred annual 2.24% Libor USD90 d + 0.95%92.580.000-7 Entel S.A. Chile 97.006.000-6 Banco de Crédito e Inversiones Chile UF Monthly 5.41% 5.41%92.580.000-7 Entel S.A. Chile 88.381.200-K Claro Comunicaciones S.A. (Telmex S.A.) Chile UF Annual 9.12% 8.70%92.580.000-7 Entel S.A. Chile 96.929.050-2 Deutsche Bank (Chile) Chile UF Deferred annual - -92.580.000-7 Entel S.A. Chile 97.036.000-K Banco Santander - Chile Chile UF Deferred annual - -92.580.000-7 Entel S.A. Chile 97.004.000-5 Banco de Chile Chile CLP Deferred annual - -92.580.000-7 Entel S.A. Chile 97.018.000-1 Scotiabank Chile Chile UF Deferred annual - -92.580.000-7 Entel S.A. Chile 97.018.000-1 Scotiabank Chile Chile CLP Deferred annual - -92.580.000-7 Entel S.A. Chile 96.929.050-2 Deutsche Bank (Chile) Chile UF Deferred annual - -92.580.000-7 Entel S.A. Chile 97.036.000-K Banco Santander - Chile Chile UF Deferred annual - -92.580.000-7 Entel S.A. Chile 97.018.000-1 Scotiabank Chile Chile UF Deferred annual - -92.580.000-7 Entel S.A. Chile 97.080.000-K Banco Bice Chile CLP - - -92.580.000-7 Entel S.A. Chile 97.006.000-6 Banco de Crédito e Inversiones Chile CLP - - -92.580.000-7 Entel S.A. Chile 97.032.000-8 Banco Bilbao Vizcaya Argentaria, Chile Chile CLP - - -92.580.000-7 Entel S.A. Chile 97.023.000-9 Corpbanca Chile CLP - - -92.580.000-7 Entel S.A. Chile 97.004.000-5 Banco de Chile Chile CLP - - -92.580.000-7 Entel S.A. Chile 97.036.000-K Banco Santander - Chile Chile CLP - - -92.580.000-7 Entel S.A. Chile 97.030.000-7 Banco del Estado de Chile Chile CLP - - -92.580.000-7 Entel S.A. Chile 97.951.000-4 HSBC Bank (Chile) Chile CLP - - -92.580.000-7 Entel S.A. Chile 97.043.000-8 JP Morgan Chase Bank, N.A. Chile CLP - - -96.806.980-2 Entel PCS S.A. Chile 97.006.000-6 Banco de Crédito e Inversiones Chile CLP - - -96.806.980-2 Entel PCS S.A. Chile 97.032.000-8 Banco Bilbao Vizcaya Argentaria, Chile Chile CLP - - -96.806.980-2 Entel PCS S.A. Chile 97.023.000-9 Corpbanca Chile CLP - - -96.806.980-2 Entel PCS S.A. Chile 96.929.050-2 Deutsche Bank (Chile) Chile CLP - - -96.806.980-2 Entel PCS S.A. Chile 97.030.000-7 Banco del Estado de Chile Chile CLP - - -96.806.980-2 Entel PCS S.A. Chile 97.951.000-4 HSBC Bank (Chile) Chile CLP - - -96.806.980-2 Entel PCS S.A. Chile 97.018.000-1 Scotiabank Chile Chile CLP - - -92.580.000-7 Entel S.A. Chile 99.012.000-5 Consorcio Nacional de Seguros S.A. Chile UF Monthly 8.03% 8.03%92.580.000-7 Entel S.A. Chile 99.185.000-7 Chilena Consolidada Seguros de Vida S.A. Chile UF Monthly 8.43% 8.43%92.580.000-7 Entel S.A. Chile 97.080.000-K Banco Bice Chile UF Monthly 8.32% 8.32%92.580.000-7 Entel S.A. Chile 96.656.410-5 Bice Vida Cía. de Seguros de Vida S.A. Chile UF Monthly 7.52% 7.52%Liquidity risks are controlled by financial planning that takes into account debt policies andpotential third party financing sources of finance. The low level of debt held by Group companiesand access to national and international finance through bank loans and issuing debt securitiesmakes it possible to reduce long-term liquidity risks, with the exception of systematic alterations inthe financial markets.–41–
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Financial Statements - Entel

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