Estados Financieros, (Inglés, Español) - Túnel San Cristóbal

c) Detail of financial instruments in force
c.1) Syndicated credit: Banco BBVA 60% and Banco Estado
40%
The long-term financing conditions obtained through the
syndicated credit are shown below:
Bank: BBVA with 60% and Banco Estado with 40%
Purpose: Financing of the concession for building,
exploiting, operating, preserving and maintaining the
“Variante Vespucio 1 Salto – Kennedy (the “Concession” or
the “Project”), including cash flow deficits after servicing the
debt through to the anticipated Start Date for Commercial
Operation of the Project, the original base for the Major
Maintenance Account and payment (together with any
portion its own funds as may be necessary to maintain the
required leverage), in its first application, of the Company’s
bridge loan with BBVA Chile allocated to financing the
concession.
Recipient: Sociedad Concesionaria Túnel San
Cristóbal S.A.
Guarantors: Hochtief A.G. and Taurus Holdings Chile
S.A. In case of the latter there exists contract of support
signed on december 15th, 2011, between Taurus Holdings
Chile S.A., Brookfield Americas Infrastructure Holdings
Inversiones Chile I Limitada, Sociedad Concesionaria Túnel
San Cristóbal S.A., Banco del Estado de Chile, y Banco
Bilbao Vizcaya Argentaria, Chile.
Creditor: Banco Bilbao Vizcaya Argentaria (BBVA),
Chile and those that in the future may acquire the capacity
as assignees of rights and obligations within the contractual
framework. In June 2010, BBVA which initially contributed
100% of the financing materialize the assignment of 40% of
the credit to Banco del Estado de Chile.
Currency: U.F.
Modality: Syndicated credit. The Concession-holding
Company has formerly undertaken to assume the reasonable
costs of the process of credit syndication, for an amount of
up to 400 unidades de fomento.
Maximum amount: UF 1.9 million available.
Term: 20 years
Interest period: Every six months
Reference rate: TAB UF180 days plus variable spread.
Applicable margin: variable as per the following table:
2009-2012: 2.00%
2013-2016: 2.25%
2017-2020: 2.50%
2021-2024: 3.00%
2025-2028: 3.50%
Interest payment: Every six months
Coverage: Interest rate swap contract for 1.71 million UF
at a staggered rate according to Note 4, clause 4.2, letter a)
(does not include the spread).
c.2) Banco Bilbao Vizcaya Argentina, Chile: VAT Financing
Line under the Ad Referendum Agreement No. 2. This debt
was totally paid on August 31, 2011; information is detailed
only because it was in force on December 31, 2010:
Financing of the Ad Referendum No. 2 : “Conexiones lo
Saldes”
Recipient: Sociedad Concesionaria Túnel San
Cristóbal S.A.
Guarantors: Dragados Concesiones de Infraestructura
S.A. 50%, Hochtief A.G. 50%.
Creditor: Grupo BBVA
Currency: UF
Modality: VAT line, Ad Referendum Agreement 2
Maximum amount available: 35,000 UF, non-revolving
Term: August 31, 2011
Interest period: 30 days
Reference rate Nominal TAB at 30 days
Applicable margin: 1% per annum applicable on the
reference rate
Non-availability commission: 0.50%
Interest payment: 30 days
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