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excessive amounts of both these types of provisions are recognised under “Other Operating
Expenses” in the consolidated income statement.
Also, “Other Non-Current Liabilities” relates mainly to the amounts maturing at more than
twelve months of the payables to suppliers of external production rights; these maturities are
set on the basis of the availability periods of those rights.
The detail, by maturity, of the items included under “Other Non-Current Liabilities” as of
December 31, 2014 is as follows:
Thousands of euros
2016
2017
2018
Total
Trade payables
45,639
4,710
42
50,391
Other non-current payables
304
-
-
304
Other non-current liabilities
45,943
4,710
42
50,695
The detail, by maturity, of the items included under “Other Non-Current Liabilities” as of
December 31, 2013 was as follows:
Thousands of euros
2015
2016
2017
2018
2019 and
subsequent
years
Total
Trade payables
52,908
9,383
807
37
-
63,135
Other non-current payables
465
10
10
33
5
523
Other non-current liabilities
53,373
9,393
817
70
5
63,658
14. Bank borrowings
On 2 August 2013, the Parent Atresmedia Corporación de Medios de Comunicación, S.A.
arranged syndicated financing of EUR 270,000 thousand in order to repay the existing bilateral
credit facilities, meet the obligations included in the financial structure assumed as a result of
the merger by absorption of Gestora de Inversiones Audiovisuales La Sexta, S.A. and to
satisfy the Parent's general cash needs. As of December 31, 2014 the limit funding amounted
to EUR 235,750 thousand.
74% of the total amount is a four-year loan with partial repayments and the remaining 26% is
a revolving credit facility maturing at four years. Nine banks with which the Parent has regular
dealings participated in the transaction.
Part of that funding is not provided by cash surpluses generated at the end of the year.
The applicable interest rate is Euribor plus a market spread and the transaction is subject to
compliance with financial covenants habitually used in transactions of this kind, relating to the
debt to EBITDA ratio and the interest coverage ratio. This transaction was guaranteed by a
security interest in all the treasury shares. Under the agreement reached with the former
shareholders of La Sexta (see Note 11-a and 11-h), this guarantee was partially released and,