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Luxottica Group, S.p.A. (LUX)
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LUX » Topics » (1) From January 1, 2006 through September 29, 2006.

This excerpt taken from the LUX 6-K filed Jun 4, 2008.

(1) From January 1, 2006 through September 29, 2006.

 

The promissory note has a stated interest rate of 15.0%. Interest is “paid-in-kind” annually in the form of an additional principal amount added to the outstanding principal balance. All unpaid interest and outstanding principal is due in March 2013. The promissory note is subordinated to certain other outstanding senior debt of the acquirer as defined in the promissory note. The promissory note has been classified as an “available-for sale” security and as such changes in its fair value will be included in accumulated other comprehensive income and reclassified to earnings when realized. For fiscal 2006 and 2007 there were no amounts reclassified from other comprehensive income into earnings.

 

 


 

 

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