Maturities
Limit
Available Drawn Down 2012
2013
2014
2015
Remainder
Mortgage guarantee loans
227,205
-
227,205
-
69,692 25,528
20,368 111,617
Fixed rate
45,274
-
45,274
-
2,562
2,938
3,072
36,702
Variable rate
181,931
-
181,931
-
67,130
22,590
17,296
74,915
Asset guarantee loans
9,272
-
9,272
-
8,272
1,000
-
-
Fixed rate
-
-
-
-
-
-
-
-
Variable rate
9,272
-
9,272
-
8,272
1,000
-
-
Subordinated loans
75,000
-
75,000
-
-
-
-
75,000
Variable rate
75,000
-
75,000
-
-
-
-
75,000
Syndicated loan
729,855
442
729,413
-
131,586 131,586 126,730 339,511
Variable rate Tranche A2
150,000
-
150,000
-
-
-
-
150,000
Variable rate Tranche B
250,000
-
250,000
-
100,000
100,000
50,000
-
Variable rate Benelux line
14,000
442
13,558
-
-
-
13,558
-
Fixed rate Tranche A1
315,855
-
315,855
-
31,586
31,586
63,172
189,511
SUBTOTAL
1,041,332
442
1,040,890
-
209,550 158,114 147,098 526,128
Credit lines
11,304
268
11,036
-
11,036
-
-
-
Variable rate
11,304
268
11,036
-
11,036
-
-
-
Debt arrangement expenses
-
-
(18,186)
-
(8,096)
(3,059)
(2,802)
(4,229)
Debt due to interest
-
-
2,119
-
2,119
-
-
-
Debt situation at 31/12/2012
1,052,636
710
1,035,859
-
214,609 155,055 144,296 521,899
Debt situation at 31/12/2011
1,079,570 22,043 1,057,045 831,122 27,501 24,967
14,362 159,093
The consolidated balance sheet at 31 December 2012, pro forma, reflecting the waiver and the capital increase resulting from the agreement with HNA, is
as follows:
NH HOTELES, S.A. AND SUBSIDIARIES BALANCE AT 31/DEC/2012
ASSETS
31/
Dec /2012
Pro forma
31/
Dec/2012 LIABILITIES AND SHAREHOLDERS’ EQUITY 31/Dec /2012 Pro forma
31/
Dec/2012
Fixed assets and real estate investments
2,069,494
2,069,494
NET ASSETS ATTRIBUTABLE TO
SHAREHOLDERS OF THE PARENT COMPANY
840,924
1,075,210
Non-current financial investments
180,608
180,608
Minority interests
158,909
158,909
Deferred tax assets and other non-current
assets
211,880
211,880
TOTAL SHAREHOLDERS' EQUITY
999,833
1,234,119
NON-CURRENT ASSETS
2,461,982
2,461,982
Subsidies
19,718
19,718
Provisions for contingencies and expenses
57,276
57,276
Debts with credit institutions
180,501
821,250
Deferred tax liabilities and other non-current
liabilities
275,964
275,964
NON-CURRENT LIABILITIES
533,459
1,174,208
Inventories
106,005
106,005
Trade accounts receivable
117,943
117,943
Provisions for contingencies and expenses
53,458
53,458
Other accounts receivable
68,976
68,976
Debts with credit institutions
855,358
214,609
Other current assets
28,984
28,984
Trade creditors
303,848
303,848
Cash, bank and equivalents
41,445
275,731
Other accounts payable
79,379
79,379
CURRENT ASSETS
363,353
597,639
CURRENT LIABILITIES
1,292,043
651,294
TOTAL ASSETS
2,825,335
3,059,621
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 2,825,335 3,059,621
e) Contingent liabilities
Subsequent to year-end 2012, the construction company responsible for the execution of repair works on the “Los Cortijos de la Reserva” development filed
a claim for arbitration against a Group company for a total sum of €2.9 million, mainly for the End of Works Certification, the return of the guarantee fund
and cost overruns.
In addition, the claimant has requested that two bank sureties for the combined amount of €741,000 issued by two financial institutions in favour of this
subsidiary company be paid to the court to cover the contractual obligations and penalties arising from execution of the aforementioned repair works.
114
REPORT ON THE CONSOLIDATED
FINANCIAL STATEMENTS
