Amadeus IT Holding, S.A. and Subsidiaries - Investor relations at ...

AMADEUS IT HOLDING, S.A. AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED ANNUAL ACCOUNTS FOR THE YEARS ENDED
DECEMBER 31, 2011, AND 2010
(EXPRESSED IN THOUSANDS OF EUROS - KEUR)
turn, agreed to make available a loan in the amount of KEUR 910,000 to the
subsidiary Amadeus IT Group, S.A. This loan had the same conditions as the
tranches Senior B and C terms of our Senior Credit Agreement and matured
in the years 2013 (KEUR 455,000) and 2014 (KEUR 455,000). This loan was
neither subject to any warranties or financial or general covenants, nor to any
changes of control provisions, different from those applicable to the Senior
Credit Agreement and is under the caption “Senior Credit Agreement” in the
table above.
� In addition, on May 4, 2010, the Group used the amount borrowed under the
new loan from Amadelux International, S.a.r.L., mentioned above, to the
partial prepayment of the tranches Senior A, Senior B, Senior C and
Acquisition Facility of the Senior Credit Agreement, for a total amount of
KEUR 701,414 and KUSD 253,120 (KEUR 193,784).
� Certain terms of the Senior Phase Two Credit dated April 8, 2005, were
renegotiated in the context of the foreseen public offering. This renegotiation
resulted on an amendment to the Senior Credit Agreement dated March 5,
2010, in respect to certain undertakings and the financial covenants. The
Group was required to meet, starting from this date two financial covenants
calculated on the basis of (i) the ratio total Net Covenant Debt to Covenant
EBITDA (Earnings before Interests, Taxes, Depreciation and Amortization),
and (ii) the ratio of Covenant EBITDA to Net Interest Payable. As of
December 31, 2010, the financial covenants mentioned above were met.
� In connection to the amendments to the Senior Credit Agreement dated
March 5, 2010, on May 4, 2010, the Group paid to the banks consent fees
amounting to KEUR 21,855 and KEUR 17,335, respectively. These fees are
included in the carrying amount of the non-current debt.
� In addition, as a result of the repayments of the Class “B” preferred shares,
the profit participating loan and the partial prepayment of the tranches Senior
A, Senior B, Senior C and Acquisition Facility of the Senior Credit Agreement
described above, a total amount of KEUR 29,239 of the deferred financing
fees has been taken to expense in the statement of comprehensive income
under the “Interest expense” caption (note 24).
During 2010, the Group repaid KEUR 104,208 and KUSD 40,685 (KEUR 30,028) of
Senior A and Acquisition Facility, as scheduled under this credit agreement.
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