Annual Report 2010 - CMVM

Notes to the Consolidated Financial Statements as at 31 December 2010- Grouped programme for the placing and underwriting of commercial paper contracted with Banco Espírito Santo de Investimento and Banco Espírito Santo on 21 August2006, of the amount of EUR 100,000 thousand, in which Teixeira Duarte - Engenharia e Construções, S.A. and Teixeira Duarte - Gestão de Participações e InvestimentosImobiliários, S.A. participate, with the entire amount being used by Teixeira Duarte - Gestão de Participações e Investimentos Imobiliários, S.A.. The participation of eachcompany in the programme may vary each time it is used. The programme has a duration of five years minus one day from the contract signing date. Interest is payablesemi-annually in advance and the intervention rate is indexed to Euribor for the period of its issuance plus 0.65% and determined in accordance with the date of eachauction.- Grouped programme for the placing and underwriting of commercial paper contracted with Banco Espírito Santo Investimento on 21 April 2008, of the amount of EUR120,000 thousand, in which Teixeira Duarte - Engenharia e Construções, S.A. and Teixeira Duarte - Gestão de Participações e Investimentos Imobiliários, S.A. participate,with the entire amount being used by Teixeira Duarte - Gestão de Participações e Investimentos Imobiliários, S.A.. The participation of each company in each programmemay vary each time it is used. The programme has a duration of five years minus one day from the contract signing date. Interest is payable on the date of repayment ofeach issue and the intervention rate is indexed to Euribor for the period of issue thereof, in force on the second business day preceding each subscription date, plus 0.65%and determined in accordance with the date of each auction.- Grouped programme for the placing and underwriting of commercial paper contracted with Banco Espírito Santo Investimento on 23 December 2008, of the amount of EUR100,000 thousand, currently EUR 60,000 thousand, in which Teixeira Duarte - Engenharia e Construções, S.A. and Teixeira Duarte - Gestão de Participações e InvestimentosImobiliários, S.A. participate, with the entire amount being used by Teixeira Duarte - Gestão de Participações e Investimentos Imobiliários, S.A.. The participation of eachcompany in each programme may vary each time it is used. The programme has a duration of five years minus one day from the contract signing date. Interest is payableon the date of repayment of each issue and the intervention rate is indexed to Euribor for the period of issue thereof, in force on the second business day preceding eachsubscription date, plus 0.85% and determined in accordance with the date of each auction.- Commercial paper programme contracted with Banco Comercial Português, S.A. on 18 August 2010, of the amount of EUR 20,000 thousand. The commercial paper is issuedwith maturities of 1, 3 and 6 months and the programme has a duration of 1 year with the possibility of renewal. Interest is payable at a rate indexed to Euribor for the periodof issue thereof, plus 3.45%.- Commercial paper programme contracted with Banco Comercial Português, S.A. on 18 August 2010, of the amount of EUR 25,000 thousand. The commercial paper isissued with maturities of 1, 3 and 6 months and the programme has a duration of 1 year with the possibility of renewal. Interest is payable at a rate indexed to Euribor forthe period of issue thereof, plus 3.45%.- Grouped programme for the placing and underwriting of commercial paper contracted with Caixa Geral de Depósitos on 7 July 2010, of the amount of EUR 70,000 thousand,in which Teixeira Duarte - Engenharia e Construções, S.A and Teixeira Duarte - Gestão de Participações e Investimentos Imobiliários, S.A. participate, with the entireamount being used by Teixeira Duarte - Engenharia e Construções, S.A. The programme will be reduced to EUR 60,000 thousand on 28 April 2011. The contract falls due 14April 2012. The interest falls due in advance on each subscription date, with the reference rate being indexed to the Euribor for the respective maturity period, in force onthe second business day prior to each subscription date, plus 1,35% and determined in accordance with the date of each auction.- Programme for the placing and underwriting of commercial paper contracted with Banco Espírito Santo on 28 December 2010, of the amount of EUR 34,000 thousand, inwhich Teixeira Duarte - Engenharia e Construções, S.A. participates. The programme may be used during three years, counting as of the contract signing date. The interestis earned in advance on each subscription date, with the intervention rate being indexed to the Euribor for the respective period, in force on the second business day priorto each subscription date, plus 0.85% and determined in accordance with the date of each auction.As a result of the commitment of successive renewal during the financial year of the programme contracts, some existing issues as at 31 December 2010 are classified asnon-current liabilities.The non-current bank loans are repayable in the following years:2010 20092011 - 115,1412012 145,483 726,4112013 397,372 520,6222014 57,887 56,8622015 23,245 4,5262016 and following 73,674 68,798697,661 1,492,360194