(all amounts in Euro thousands)
| |
Group |
Company |
| Current |
2016 |
2015 |
2016 |
2015 |
| Bank borrowings |
6,915 |
14,564 |
13 |
9,324 |
| Bank borrowings in non euro currency |
31,746 |
9,930 |
- |
- |
| Debentures (note 37) |
87,938 |
- |
- |
- |
| Loans from related parties |
- |
- |
42,429 |
- |
| Finance lease liabilities |
2,900 |
1,819 |
- |
- |
| |
129,499 |
26,313 |
42,442 |
9,324 |
| Non-current |
| Bank borrowings |
30,766 |
35,902 |
- |
- |
| Bank borrowings in non euro currency |
62,655 |
170,443 |
- |
- |
| Debentures |
601,893 |
499,181 |
- |
- |
| Loans from related parties |
- |
- |
310,678 |
300,712 |
| Finance lease liabilities |
15,651 |
11,240 |
- |
- |
|
710,965 |
716,766 |
310,678 |
300,712 |
| Total borrowings |
840,464 |
743,079 |
353,120 |
310,036 |
The Company has the following loan facility agreements with the Group subsidiary Titan Global Finance PLC :
-Revolving Facility Agreement €184,0 million, Maturity: 2018, floating interest rate
-Loan Agreement €42,5 million, Maturity: 2017, fixed interest rate
-Loan Agreement €110,2 million, Maturity: 2019, fixed interest rate
-Loan Agreement €150,0 million, Maturity: 2021, fixed interest rate
Maturity of non-current borrowings:
| |
Group |
Company |
| |
2016 |
2015 |
2016 |
2015 |
| Between 1 and 2 years |
39,588 |
247,434 |
51,736 |
94,388 |
| Between 2 and 3 years |
300,672 |
90,058 |
109,535 |
96,396 |
| Between 3 and 4 years |
17,492 |
296,067 |
- |
109,928 |
| Between 4 and 5 years |
316,899 |
33,907 |
149,407 |
- |
| Over 5 years |
20,663 |
38,060 |
- |
- |
| |
695,314 |
705,526 |
310,678 |
300,712 |
Maturity of non-current finance lease liabilities:
| |
Group |
| |
2016 |
2015 |
| Between 1 and 2 years |
83 |
- |
| Between 2 and 3 years |
39 |
235 |
| Between 3 and 4 years |
96 |
- |
| Between 4 and 5 years |
8,498 |
- |
| Over 5 years |
6,935 |
11,005 |
| |
15,651 |
11,240 |
On 17 June 2016 was completed the offering of a total nominal amount of €300 million guaranteed notes due 2021, with a coupon of 3.50% per annum, which were issued by Group subsidiary Titan Global Finance PLC (the "Issuer") and guaranteed by the Company. The notes are traded on the Global Exchange Market (GEM), the exchange –regulated market of the Irish Stock Exchange.
Part of the proceeds of the notes was used by the Issuer to purchase €109 million of its outstanding 8.75% guaranteed notes due January 2017 (the "2017 Notes") prior to maturity pursuant to the tender offer memorandum dated 6 June 2016 and for general corporate purposes.