Ubisoft 2000 Annual Report Download - page 59

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58
The Group’s fixed rate and floating debts amounted to FF 212,979,000 and FF 924,657,000 respectively.
The leasing agreements primarily cover IT hardware, and are for a period of no more than 3 years.
Overdrafts are used to finance temporary cash requirements generated by changes in working capital requirements.
At closure of the 2000/2001 financial year, net borrowings were FF 572,074,000.
(IN ‘000 FF) 03/31/01 03/31/00
Financial debts State advances 1,137,388 344,220
Cash (229,494) (283,621)
Investment securities (335,820) (680,580)
Net financial debts 572,074 (619,981)
The breakdown of financial debts by currency is as follows:
03/31/01
FRENCH FRANCS 701,878
EUROS 40,995
US DOLLARS 361,064
DEUTSCHE MARK 23,021
ITALIAN LIRA 6,196
AUSTRIAN SCHILLING 2,096
SPANISH PESETA 2,089
POUND STERLING 297
FINANCIAL DEBTS 1,137,636
Chief characteristics of the first convertible bond issue:
Number and face value: 167,000 bonds with a face value of FF 600
Issue price: FF 600 per bond
Due date and settlement day: October 10, 1997
Term of bond: 5 years and 173 days
Annual yield: 2% per year, or FF 12 per bond, payable on April 1 of each year starting April 1 1998
Gross redemption yield: 4.26% on October 10 1997
Normal redemption: redeemed in full by April 1 2003 by redemption at a price of FF 681.58 or 113.6% of the issue price
>126,289 bonds were converted, 18,705 during this year. 40,711 remain to be exercised.
>This loan will be repaid early, from May 21 to August 20 2001.
Chief characteristics of the second convertible bond issue:
Number and face value: 314,815 bonds with a face value of FF 1,080
Issue price: FF 1,080 per bond
Due date and settlement day: July 16, 1998
Term of bond: 7 years
Annual yield: 3.80% per year, or FF 41.04 per bond, payable on July 16 of each year
Gross redemption yield: 3.80% on July 16, 1998
Normal redemption: redeemed in full by July 16, 2005 by redemption at a price of FF 1,080 or 100% of the issue price
>162,702 bonds were converted, 31,621 during this year. 152,113 bonds remain to be exercised.