The detail of the item “Bonds and Notes”, net of intercompany elimination, is as follows:
|
(in thousands of euro) |
Effective rate |
31.12.2010 |
31.12.2009 |
|
Gruppo Editoriale L’Espresso S.p.A. 5.125% Note 2004/2014 |
4.82% |
278,015 |
291,720 |
|
CIR S.p.A. 5.75% Note 2004/2024 |
5.87% |
268,146 |
266,911 |
|
Société Française d’Eoliennes (SFE) 6.5% Note 2006/2016 |
7.50% |
1,294 |
2,070 |
|
CIR International S.A. 6.375% Note 2003/2011 |
-- |
-- |
157,561 |
|
Total |
|
547,455 |
718,262 |
In application of IAS 32 and 39, at January 1 2005 the original values of bond and note issues were written down to account for expenses incurred and bond issuance discounts.
At December 31 2010 CIR International was holding a nominal € 30,000 thousand (unchanged from December 31 2009) of the CIR 5.75% Note issue 2004/2024.
The CIR International S.A. 6.375% 2003/2011 note was classified in current liabilities under item 11.a Bonds and Notes.