Page 287 - 2012 Annual Report

287
VIVENDI l 2012 l Annual Report
FINANCIAL REPORT – CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE
CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE FINANCIAL STATEMENTS –
STATUTORY FINANCIAL STATEMENTS 4
4
III - CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note 22 Borrowings and other financial liabilities
22.2. BANK CREDIT FACILITIES
(in million of euros) Maturity
Maximum
amount
Dec. 31,
2012
Maturing during the following periods
Dec. 31,
2011 2013 2014 2015 2016 2017
After
2017
€1.5 billion revolving facility (May 2012) May-17 (a) 1,500 - - - - - - - -
€1.1 billion revolving facility (January 2012) Jan-17 (b) 1,100 - - - - - - - -
€40 million revolving facility (January 2012) Jan-15 40 - - - - - - - -
€5.0 billion revolving facility (May 2011)
tranche B: €1.5 billion May-14 1,500 725 - 725 - - - - 725
tranche C: €2.0 billion May-16 2,000 819 - - - 819 - - 410
€1.0 billion revolving facility (September 2010) Sep-15 1,000 350 - - 350 - - - -
€1.2 billion revolving facility - SFR (June 2010) Jun-15 1,200 - - - - - - - -
€2 billion revolving facility (February 2008) - (a) - - - - - - - - 890
€2 billion revolving facility (August 2006) - (a) - - - - - - - - 2,000
Securitization program - SFR (March 2011) - (c) - - - - - - - - 422
GVT - BNDES - 570 406 30 45 76 76 57 122 299
Maroc Telecom - MAD 3 billion loan Jul-14 94 94 54 40 - - - - 149
Canal+ Group - VSTV Feb-14 35 29 13 16 - - - - 22
Drawn confirmed bank credit facilities 2,423 97 826 426 895 57 122 4,917
Undrawn confirmed bank credit facilities 6,616 6 784 1,918 1,209 2,628 71 7,164
Total of group’s bank credit facilities 9,039 103 1,610 2,344 2,104 2,685 193 12,081
Commercial paper issued (d) 3,255 3,255 529
(a) In May 2012, Vivendi set up a €1.5 billion syndicated bank credit facility maturing in May 2017, which permitted the early refinancing of two credit
facilities for a total amount of €3 billion (the €2 billion credit facility of August 2006 maturing in August 2013 for €1.7 billion and in August 2012 for
€0.3 billion as well as the €1 billion credit facility of February 2008, maturing in February 2013).
(b) In January 2012, Vivendi set up a €1.1 billion bank credit facility with a 5-year maturity, which permitted the early refinancing of the €1.5 billion credit
facility initially maturing in December 2012 and SFR’s €0.5 billion syndicated loan initially maturing in March 2012.
(c) SFR’s securitization program was terminated in June 2012.
(d) The commercial paper is backed to confirmed bank credit facilities. It is recorded as short-term borrowings on the Consolidated Statement of Financial
Position. Moreover, in June 2012, Vivendi increased the maximum amount authorized by the Banque de France regarding Vivendi SA’s commercial
paper program from €3 billion to €4 billion.
Vivendi SA and SFR bank credit facilities, when drawn, bear interest at
floating rates.
Moreover, in connection with its appeal of the verdict rendered in the
Liberty Media Corporation litigation, Vivendi will shortly deliver a letter
of credit issued by Bank of America for the benefit of Liberty Media
Corporation, for €975 million (damages and interest, as well as legal
costs). This off-balance sheet financial commitment will have no impact
on Vivendi’s net debt (please refer to Note 23.2.3).