90 REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS
14.3 Treasury shares
At year-end, NH Hotel Group, S.A. held 9,000,000 treasury shares representing 2.57% of its share capital at a total cost of 37,561 thousand euros. On
4 November 2013, the Spanish National Securities Market Commission (CNMV) was notified of the loan of 9,000,000 of shares to the three financial
institutions involved in the placement of the bonds convertible or exchangeable for shares of NH Hoteles, S.A. amounting to 250 million euros. The
purpose of this loan was to allow said financial entities to offer the shares to subscribers to the bonds requesting them (Note 15).
14.4 Non-controlling interests
The movements in this heading in 2015 and 2014 are summarised below:
Thousands of euros
2015
2014
Opening balance
24,201
153,588
Capital increases/reductions (Note 2.5.4)
-
(123,055)
Comprehensive profit (loss) attributable to non-controlling interests
(1,383)
(125)
Changes in percentage shareholdings and purchase/sales
16,461
(4,626)
Dividends paid to non-controlling interests
(1,374)
(765)
Other movements
58
(816)
Closing balance
37,963
24,201
The “Changes in percentage shareholdings and purchase/sales” ítem mainly includes the entry in the consolidation scope of the hotel management
group Hoteles Royal.
The “Dividends paid to non-controlling interests” item basically reflects the dividends paid out in 2015 to the following companies: NH Marín, S.A., for
331 thousand euros, Hoteles Royal, S.A. for 346 thousand euros and Latinoamericana de Gestión Hotelera, S.A. for 697 thousand euros.
15.-DEBT IN RESPECT OF BOND ISSUES AND BANK BORROWINGS
The balances of the “Bonds and other negotiable securities” and “Debts with credit institutions” items at 31 December 2015 and 2014 were as follows:
Thousands of euros
2015
2014
Long term Short term Long term Short term
Convertible bonds
233,251
-
228,156
-
Guaranteed senior notes
250,000
-
250,000
-
Borrowing costs
-
3,613
-
3,517
Arrangement expenses
(11,380)
-
(14,175)
-
Debt instruments and other marketable securities
471,871
3,613
463,981
3,517
Syndicated loans
221,600
21,200
111,633
19,700
Mortgages
32,262
13,183
86,415
18,807
Equity loans
11,736
3,596
-
-
Subordinated loans
75,000
-
75,000
-
Credit lines
-
36,861
-
32,617
Arrangement expenses
(4,433)
(1,060)
(4,104)
(1,365)
Borrowing costs
-
1,492
-
1,152
Bank borrowings
336,165
75,272
268,944
70,911
Total
808,036
78,885
732,925
74,428
