Annual Report and Consolidated Accounts 2015
Current
Dec. 2015
Dec. 2014
Bank overdrafts
45.875
95.169
Bank loans
6.677.673
3.741.568
Commercial paper programmes
11.250.000
10.750.000
Derivative financial instrument
(1)
-
217.020
Financial Leasing
151.981
-
18.125.529
14.803.757
Total loans
43.435.303
38.831.817
Average interest rate
3,8%
4,3%
(1) Reclassified to note 20 in 2015.
There are no significant differences between the
balance sheet amounts and fair value of current
and non-current loans.
The maturities of non-current bank loans are
broken down as follows:
Dec. 2015
Dec. 2014
From 1 to 2 years
12.277.387
10.110.558
From 2 to 5 years
12.427.096
13.902.757
> 5 years
118.203
14.746
24.822.686
24.028.060
Regardless of its ending stated period, for the
subscribed commercial paper programmes the
Group considers the full repayment on its matu-
rity date (the renewal date).
Using the functional currency in which they were
subscribed, total loans on 31
st
December 2015
and 2014 were as follows:
Dec. 2015
Dec. 2014
EUR
29.089.215
31.280.550
USD
2.000.000
3.125.000
AOA
1.747.708.332
610.208.343
At the end of the year the Group had 21,6 million
euros of unissued commercial paper programmes
and available but not disposable credit lines.
There are no covenants on loans or commercial
paper contracted as of December 31, 2015 and
2014.
261
