120 / 140
38
The agreement for the partial novation of the integration agreement entered into by the Company
for the merger with Gestora de Medios Audiovisuales La Sexta, S.A. on 19 February 2014 (see
Note 12.3), included the assumption of a contingency of the former shareholders of La Sexta
corresponding to the tax assessments relating to the levy on games of luck, betting or chance,
raffles and tombolas. The assumption of this contingency gave rise to the recognition of the
related provision of EUR 6,903 thousand in the Company's financial statements. In the first half of
2015, this provision was reversed as a final judgment was handed down in relation to the
proceeding. The accounting entry and the reversal of the provision did not have any impact on the
Company's statement of profit or loss.
At 31 December 2015 and 2014, certain civil, labour, criminal and administrative lawsuits had
been filed against the Company which were taken into account in estimating potential contingent
liabilities. Noteworthy, in view of their amount, were the lawsuits with certain collection societies.
The directors of the Company and its legal advisers do not expect any material liabilities additional
to those already recognised to arise from the outcome of the lawsuits in progress.
14.- Non-current and current liabilities
14.1 Non-current financial liabilities
The detail of “Non-Current Payables” at the end of 2015 and 2014 is as follows (in thousands of
euros):
Non-current financial instruments
Bank borrowings
Derivatives and other
Total
2015
2014
2015
2014
2015
2014
Accounts payable
127,437
126,331
46,154
50,511
173,591
176,842
Derivatives
-
-
2,757
7
2,757
7
Total
127,437
126,331
48,911
50,518
176,348
176,849
The detail, by maturity, of “Non-Current Payables” is as follows (in thousands of euros):
2017
2018
2019
2020
2021 and
subsequent
years
Total
Bank borrowings
27,000
27,000
73,437
-
127,437
Trade payables
44,333
1,644
61
-
-
46,038
Derivatives
2,633
107
17
-
-
2,757
Other payables
48
9
41
9
9
116
Total at 31/12/15
74,014
28,760
73,556
9
9 176,348
2016
2017
2018
2019
2020 and
subsequent
years
Total
Bank borrowings
62,331
64,000
-
-
-
126,331
Trade payables
45,639
4,710
42
-
-
50,391
Derivatives
7
-
-
-
-
7
Other payables
75
9
9
9
18
120
Total at 31/12/14
108,052
68,719
51
9
18 176,849
On 4 May 2015, the Company arranged a new syndicated loan of EUR 270,000 thousand, which
was earmarked to repay the syndicated financing arranged in August 2013 and to meet the
Company's general corporate and cash requirements. At 31 December 2015, the limit of the
aforementioned financing was EUR 270,000 thousand.