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27. Long-term loansChanges to long-term loans throughout the year can be reduced to the following:INA GroupINA d.d.31 December 2005 1,224 972New loans 1,375 1,375Repayments (454) (346)Negative exchange rate differences (142) (123)31 December 2006 2,003 1,878Payment within 1 year (including bank loans and overdrafts - note 24) (578) (506)Payment after more than 1 year 1,425 1,37231 December 2006 2,003 1,878New loans* 3,873 3,695Repayments (2,302) (2,231)Negative exchange rate differences (315) (309)31 December 2007 3,259 3,033Payment within 1 year (including bank loans and overdrafts - note 24) (84) (45)Payment after more than 1 year 3,175 2,988*INA Group’s new loans amount to 3,873 million HRK, of which 173 million HRK have been transferred by the purchase of thecompany Rotary ZrtOutstanding long-term loans as at 31 December 2007, aswell as newly withdrawn and repaid loans during 2007can be summarized as follows:Privredna banka ZagrebThe Company’s remaining long-term liability to Privrednabanka is 2 million HRK, and relates to the Contract onRefinanced Bills of Exchange Based on the Bond Issue -API. The debt is in grace period and will be refinanced.Erste & Steiermaerkische Bank andViktor LenacLoans from Erste & Steiermarkische bank and Viktor Lenacwere intended for financing import equipment necessaryfor construction and delivery of the LABIN platform. Thebalance of outstanding debt as at 31 December 2007 is19 million HRK, and 31.5 million HRK (in USD, EUR) as at 31December 2006. The interest becomes due on 31 Januaryand 31 July every year at different contracted interestrates.EBRDIn 2001, the Company concluded a long-term loancontract with EBRD, for the amount of 36 million EUR forfinancing environmental projects at INA d.d. The loan useterm was 31 December 2005, by which date 31.7 millionEUR had been used. It was decided that the use periodwould not be extended. The repayment of the loan wascontracted as 12 semiannual installments, and the duedate of the last installment is 30 March 2011, with the 6month EURIBOR + 1 percentage point interest rate. Theloan balance as at 31 December 2006 was 21.3 million EUR,or 156.6 million HRK.Bayerische LandesbankIn 2007, the Company concluded a new loan contractwith Bayerische Landesbank in the amount of 1 billionUSD. The loan was intended for financing businessactivities of INA d.d., primarily for early repayment of thepreviously contracted syndicated loan in the amount of400 million USD, and for modernizing refineries. The loan132 Financial report