Cemex 1997 Annual Report Download - page 67

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61
8- SHORT-TERM BANK LOANS AND NOTES PAYABLE
Short-term debt is summarized by currency at December 31, 1997 and 1996, as follows:
Consolidated
1997 1996
Dollars $ 4,119,709 5,769,307
Spanish Pesetas 1,152,585 345,005
Venezuelan Bolivars 17,346 136,346
Colombian Pesos 15,516 504,005
Mexican Pesos ——- 41,971
Dominican Pesos ——- 45,921
$ 5,305,156 6,842,555
At December 31, 1997, there were no deposits established to repay short term indebtedness. At December 31, 1996,
the Company established deposits amounting to US dollars 52 million to repay certain debt. These deposits were
offset against the debt in the accompanying consolidated balance sheets.
9.- LONG-TERM DEBT
The consolidated long-term debt is as follows:
Interest Interest
1997 Rate 1996 Rate
A) Bank Loans
Syndicated loans denominated in foreign
currency, due from 2001 to 2003 $ 8,034,053 5.8% - 8.6% 10,041,473 6.2% - 8.4%
Bank loans denominated in foreign
currency, due from 1998 to 2003 5,245,251 5.3% - 20.9% 5,012,450 5.9% - 24.6%
Bank loans denominated in Mexican
currency, due in 1999 ——— 13,459 28.8%
Total long-term bank loans 13,279,304 15,067,382
B) Debentures ——— 243
C) Notes Payable
Euro-Note Programme denominated
in foreign currency, due
from 1998 to 2006 14,915,297 8.5% - 12.8% 18,523,462 4.5% - 12.8%
Commercial paper denominated
in foreign currency, with revolving
maturities every one or two years 2,905,200 5.8% - 6.4% 2,854,152 5.5% - 7.2%
Yankee Notes, due in 2003 1,412,250 8.4% 1,469,049 8.4%
Other notes denominated
in foreign currency, due
from 1998 to 2003 1,042,213 6.3% - 10.0% 297,129 8.5% - 12.0%
Other notes denominated in Mexican
currency, due in 1999 ——— 64,421 31.5%
Total long-term notes payable 20,274,960 23,208,213
33,554,264 38,275,838
Current maturities (1,590,621) (5,085,089)
$31,963,643 33,190,749