The weighted average effective interest rates that affect the Income Statement are as follows:
(all amounts in Euro thousands)
| |
Group |
Company |
| |
2016 |
2015 |
2016 |
2015 |
| Borrowings (USD) |
4,49% |
3,82% |
- |
- |
| Borrowings (JPY) |
- |
2,70% |
- |
- |
| Borrowings (EGP) |
13,81% |
11,97% |
- |
- |
| Borrowings (BGN) |
2,73% |
3,25% |
- |
- |
| Borrowings (LEK) |
4,85% |
4,78% |
- |
- |
| Borrowings (TRY) |
12,13% |
- |
- |
- |
| Borrowings (€) |
5,22% |
6,09% |
4,80% |
5,31% |
| Finance lease liabilities (USD) |
3,06% |
3,22% |
- |
- |
| Finance lease liabilities (CAD) |
4,00% |
4,00% |
- |
- |
Bank borrowings in foreign currencies (including finance leases):
(all amounts in Euro thousands)
| |
Group |
| |
2016 |
2015 |
| USD |
215,538 |
208,111 |
| TRY |
1,915 |
- |
| EGP |
62,141 |
132,368 |
| BGN |
15,421 |
11,586 |
| LEK |
30,516 |
36,093 |
| CAD |
2 |
6 |
| GBP |
73 |
135 |
The Group has the following undrawn borrowing facilities:
(all amounts in Euro thousands)
| (all amounts in Euro thousands) |
Group |
Company |
| |
2016 |
2015 |
2016 |
2015 |
| Floating rate: |
| - Expiring within one year |
192,154 |
155,710 |
98,105 |
89,645 |
| - Expiring beyond one year |
319,944 |
316,730 |
130,654 |
87,190 |
The present value of the finance lease liabilities may be analyzed as follows:
(all amounts in Euro thousands)
| |
Group |
|
2016 |
2015 |
| Finance lease liabilities - minimum lease payments |
| Not later than 1 year |
3,452 |
2,184 |
| Later than 1 year and not later than 5 years |
15,271 |
8,370 |
| Later years |
1,789 |
3,998 |
| |
20,512 |
14,552 |
| Future finance charges on finance leases |
-1,961 |
-1,493 |
| Present value of finance lease liabilities |
18,551 |
13,059 |
In 2016, Group subsidiary in U.S.A., Titan America LLC (TALLC), entered into new finance leases in the principal amount of €7,5 million with terms of six years and an average interest rate of 3,19%. In 2015, TALCC had entered into eight new finance leases for the purchase of motor vehicles in 2015. The total principal amount of these leases is €12,3 million with terms of six years and an average interest rate of 3,08%.