Tiscali 2009 Annual Report Download - page 133

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Tiscali Group: Annual Report 2009
132
The financial debt related to the Sa Illetta lease, amounting to EUR 56.3 million at 31 December 2009, is at
a variable interest rate. However, the company does not feel that the risk related to fluctuating interest rates is
considerable and therefore it is not necessary to perform any risk hedging transactions.
Handling of the liquidity risk
The following tables consider the maturity of the financial investments for the next five years with particular
indication of the amounts to be paid to the leading banks in 2010.
31 December 2009 Book value Outgoing
cash flows
less than 1
year
between 1
and 5 years
more than 5
years
(EUR 000)
Secured bank loans 163,754 216,715 10,880 186,354 19,481
Payables to suppliers and other
payables 184,121 184,121 169,886
14,234
-
Bank account overdrafts 13,573 13,573 13,573 - -
31 December 2008 Book value Outgoing
cash flows
less than 1
year
between 1
and 5 years
more than 5
years
(EUR 000)
Secured bank loans 490,767 719,221 109,286 186,623 427,312
Unsecured bank facility 30,743 44,522 515 44,007
Payables to suppliers and other
payables 396,384 418,949 312,097
87,817
19,034
Bank account overdrafts 19,245 19,245 19,245 - -
At 31 December 2008, after breaching the covenants, the senior loan was reclassified from long to short
term.
Financial instruments
Fair value
The following tables show the valuations respectively at 31 December 2009 and at 31 December 2008, of
financial instruments present as of the balance sheet date:
31 December 2009
Book value Fair Value
(EUR 000)
Secured bank loans 163,754 150,127
Unsecured bank facility 13,573 13,573
Payables for financial leases 63,301 58,631