90 REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS
Maturity
Instrument
Limit
Available Disposed 2014 2015
2016
2017
2018
2019 Remainder
Mortgages
105,222
-
105,222
-
18,807 48,076 25,463 5,981
743
6,152
Fixed rate
40,042
-
40,042
-
2,823 32,893
84
82
83
4,077
Variable interest
65,180
-
65,180
-
15,984 15,183 25,379 5,899
660 2,075
Subordinated loans
75,000
-
75,000
-
-
-
-
-
-
75,000
Variable interest
75,000
-
75,000
-
-
-
-
-
-
75,000
Syndicated loans
188,000 56,667
131,333
-
19,700 19,700 87,033 700
700 3,500
Tranche A (floating rate)
114,333
-
114,333
-
19,000 19,000 76,333
-
-
-
Tranche B (floating rate)
66,667
56,667
10,000
-
-
-
10,000
-
-
-
Syndicated NH Europa (floating rate)
7,000
-
7,000
-
700
700
700
700
700 3,500
Guaranteed line of credit
14,000
2,537
11,463
-
11,463
-
-
-
-
-
Variable interest
14,000
2,537
11,463
-
11,463
-
-
-
-
-
Convertible notes
228,156
-
228,156
-
-
-
-
228,156
-
-
Fixed rate
228,156
-
228,156
-
-
-
-
228,156
-
-
Guaranteed senior notes
250,000
-
250,000
-
-
-
-
-
250,000 -
Fixed rate
250,000
-
250,000
-
-
-
-
-
250,000 -
SUBTOTAL
860,378 59,204 801,174
49,970 67,776 112,496 234,837 251,443 84,652
Credit lines
27,550
6,396
21,154
-
21,154
-
-
-
-
-
Variable interest
27,550
6,396
21,154
-
21,154
-
-
-
-
-
Arrangement expenses
-
-
(19,643)
-
(1,365)
(307)
(2,310)
(5,358)
(8,817)
(1,487)
Borrowing costs
-
-
4,669
-
4,669
Borrowing situation at 31/12/2014
887,928 65,600 807,354
-
74,428 67,469 110,186 229,479 242,626 83,165
Borrowing situation at 31/12/2013
974,989 80,779 879,288 99,705 44,583 37,486 122,769 242,850 250,743 81,152
17.- OTHER NON-CURRENT LIABILITIES
The breakdown of the “Other non-current liabilities” item in the accompanying consolidated balance sheets, at 31 December 2014 and 2013, is as
follows:
€Thousand
2014
2013
At fair value:
Put option for Donnafugata Resort, S.r.l.
10,670
9,900
At amortised cost:
Linearisation of revenue
15,895
14,441
Issue of promissory notes
1,810
1,810
Capital subsidies (Note 9)
-
18,086
Indemnity for termination of the Hotel Bühlerhöhe lease (Note 23)
-
3,593
Loans from shareholders
533
818
Other liabilities
1,326
1,658
Purchase option on Sotocaribe, S.L. (see note 2.5.4)
58,250
-
88,484
50,306
On 26 October 2012 the arbitration tribunal ratified the valuation of Donnafugata Resort, S.r.l. made by an independent valuer in response to the
communication made by the non-controlling interests of said company in 2010 of their intention to exercise the put option (at 31 December 2012
they represented 8.81% of the share capital). As a result of this decision, the Parent recognised the put option of the non-controlling interests in
accordance with said valuation, which amounted to €9,900 thousand. In December 2014, an arbitration ruling set the costs and financial expenses
payable by the Group at €770 thousand. The change in the fair value of this option was recognised under the heading “Change in fair value of
financial instruments” in the accompanying comprehensive consolidated profit and loss statement for 2014. (See Note 25.6).
The financial liability resulting from recognising the Donnafugata Resort, S.r.l. put option at fair value was classified as level 2 in accordance with the
calculation hierarchy established in IFRS 7.
