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EXPLANATORY NOTES
280
| 2013 ANNUAL REPORT | PRYSMIAN GROUP
The fair value of the convertible Bond (equity component and
debt component) was Euro 338,844 thousand at 31 December
2013; the fair value of the debt component was Euro 265,388
thousand. In the absence of trading on the relevant market,
fair value has been determined using valuation techniques
that refer to observable market data.
Finance lease obligations
Finance lease obligations refer to the liability arising after
taking over a finance lease for a building on 14 November 2013.
This lease will expire on 20 January 2027 and carries an interest
rate of 2.12103%.
The finance lease obligation (Euro 11,635 thousand at 31
December 2013) is reconciled with outstanding payments as
follows:
The finance lease obligation is analysed by maturity as follows:
(in thousands of Euro)
Value of convertible bond
300,000
Equity reserve for convertible bond
(39,632)
Issue date net balance
260,368
Interest - non-monetary
5,913
Interest - monetary accrued
3,062
Interest - monetary paid
(1,875)
Related costs
(2,880)
Balance at 31 December 2013
264,588
(in thousands of Euro)
31 December 2013
Due within 1 year
1,428
Due between 1 and 5 years
2,603
Due after more than 5 years
9,978
Minimum finance lease payments
14,009
Future interest costs
(2,374)
Finance lease obligations
11,635
(in thousands of Euro)
31 December 2013
Due within 1 year
537
Due between 1 and 5 years
2,181
Due after more than 5 years
8,917
Total
11,635
