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ANNUAL FINANCIAL REPORT – REGISTRATION DOCUMENT
74
ORANE 2010 BONDS (ISIN code: FR0010833053)
In December 2009, Atari launched a financial transaction, which was finalized in January 2010, resulting from the free
allocation of warrants to its shareholders entitling them to subscribe, at the option of Warrant holders, to new shares
and/or to bonds redeemable into new or existing shares (“the ORANE 2010 bonds”), under the conditions set out in the
prospectus which received the AMF visa number 09-367 on December 10th, 2009.
In January 2010, the Company issued 156,428 bonds redeemable for new or existing shares (“ORANE 2010 bonds”,
ISIN FR0010833053), maturing on April 1, 2015. The bonds have a nominal value of €100 each and are redeemable for
26.39 new or existing shares. The bonds bear interest at an annual rate of 0.5% – representing €0.50 per bond –
payable in arrears on April 1 each year.
As of March 31, 2011 there were 155,117 of these ORANE 2010 bonds outstanding. If all the bonds were redeemed this
would result in the issue of 4,093,538 new shares with a dilutive effect on the Company’s capital of 16.8% as of March
31, 2010.
No other securities exist carrying a right to the Company's capital other than those described above.
13.2. DEBT BY MATURITY
The Group's debt breaks down as follows by maturity:
The €50 million due by March 31, 2011 primarily corresponds to the amount drawn down under the BlueBay credit facility
(€42.4 million) as well as the corresponding interest and charges (€0.4 million).
13.3. DEBT BY CURRENCY
The Group’s debt breaks down as follows by currency:
13.4. GUARANTEES AND COVENANTS
Guarantees
The Company has given various guarantees as security for the Banc of America / BlueBay loans to Atari Europe SAS
and some of its subsidiaries, consisting of:
• A first-call guarantee.
• Pledges of the entire equity interests in the following subsidiaries: Cryptic Studios, Inc., Eden Games SAS, Atari
Interactive Inc., Atari Inc. and Atari Europe SAS.
• Pledges of certain trademarks and rights relating to certain video games published by Atari Europe SAS.
• Pledges of the intragroup receivables of certain Group subsidiaries.
The table below summarizes the acceleration clauses and financial ratios relating to the Group's debt at March 31, 2011:
March 31,
2011
€ in million Nominal Interests Nominal Interests Nominal Interests Nominal Interests Nominal Interests Nominal Interests
Bond debt 8.5 5.3 1.0 0.8 0.7 0.1 0.6 - 5.9 2.6
Financial debt 42.8 42.4 0.4 42.4 0.4
Other financial debt 1.1 0.9 0.2 1.1 -
Total financial liabilities 52.4 48.6 1.4 0.2 0.8 - 0.7 - 0.1 0.6 - 49.4 3.0
March 31, 2012 March 31, 2013 March 31, 2014 March 31, 2015
March 31, 2016 and
beyond Total
(€ million) March 31, 2011 March 31, 2010
European Monetary Union currencies 51.2 17.3
USD 1.2 2.2
Other currencies - -
Total 52.4 19.5