305 348
305
31 December 2013
Total lines
Used
Unused
Term Loan Facility 2010
87,916
(87,916)
-
Term Loan Facility 2011
400,000
(400,000)
-
Total Credit Agreements
487,916
(487,916)
-
EIB Loan
100,000
-
100,000
Total
587,916
(487,916)
100,000
At the Group level there is also another committed facility
in the form of the Revolving Credit Facility 2011 for Euro 400
million. This line is available to a certain number of Group
companies, including Prysmian S.p.A..
As at 31 December 2014 and 31 December 2013, the Company
had not drawn down the above Group credit facility.
More details about the nature and drawdown of the
Group-level facilities shown above can be found in the Ex-
planatory Notes to the Consolidated Financial Statements
(Note 12. Borrowings from banks and other lenders).
Bonds
Prysmian S.p.A. has the following bonds outstanding as at 31
December 2014:
Non-convertible bond
Further to the resolution adopted by the Board of Directors on
3 March 2010, Prysmian S.p.A. completed the placement of
an unrated bond with institutional investors on the Eurobond
market on 30 March 2010 for a total nominal amount of Euro
400 million. The bond, with an issue price of Euro 99.674, has
a 5-year term and pays a fixed annual coupon of 5.25%. The
bond settlement date was 9 April 2010. The bond has been
admitted to the Luxembourg Stock Exchange's official list
and is traded on the related regulated market. The fair value
of the non-convertible bond at 31 December 2014 was Euro
410,468 thousand (Euro 417,440 thousand at 31 December
2013). Fair value has been determined with reference to the
quoted price in the relevant market.
Convertible bond
On 4 March 2013, the Board of Directors approved the
placement of an Equity Linked Bond, referred to as
"€300,000,000 1.25 per cent. Equity Linked Bonds due
2018", maturing on 8 March 2018 and reserved for qualified
investors.
On 16 April 2013, the Shareholders' Meeting authorised the
convertibility of the Bond at a value of Euro 22.3146 per
share. As a result, the shareholders approved the proposal to
increase share capital for cash, in single or multiple issues,
with the exclusion of pre-emptive rights under art. 2441, par.
5 of the Italian Civil Code, by a maximum nominal amount
of Euro 1,344,411.30, by issuing, in single or multiple instal-
ments, up to 13,444,113 ordinary shares of the Company with
the same characteristics as its other outstanding ordinary
shares.
The following tables summarise the Committed Lines available to the Company at 31 December 2014 and 31 December 2013:
31 December 2014
Total lines
Used
Unused
Term Loan Facility 2011
400,000
(400,000)
-
Syndacated Revolving Credit Facility 2014
1,000,000
-
1,000,000
Total Credit Agreements
1,400,000
(400,000)
1,000,000
Revolving Credit Facility 2014
100,000
(30,000)
70,000
EIB Loan
100,000
(100,000)
-
Total
1,600,000
(530,000)
1,070,000
(in thousands of Euro)
(in thousands of Euro)