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This excerpt taken from the MTA 20-F filed May 21, 2009. Loans and other borrowings Borrowings are recognized initially at fair value less transaction costs, and subsequently measured at amortized costs using the effective interest rate method. The effective interest is recognized in the income statement (Finance expenses) over the period of the borrowings. This excerpt taken from the MTA 20-F filed Jun 17, 2008. Loans and other borrowings Borrowings are recognized initially at fair value less transaction costs, and subsequently measured at amortized costs using the effective interest rate method. The effective interest is recognized in the income statement (Finance expenses) over the period of the borrowings. This excerpt taken from the MTA 6-K filed Feb 14, 2008. Loans and other borrowings
The current portion of loans and other borrowings decreased by 39.0% from December 31, 2006 to HUF 63.2 bn at December 31, 2007. Non current loans and other borrowings increased by 50.1% from December 31, 2006 to HUF 309.5 bn at December 31, 2007. The increase in the total loan portfolio resulted from the dividend related to 2005 and 2006
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paid in January 2007 and May 2007, respectively and from the financing of KFKI and Dataplex acquisitions.
At December 31, 2007, almost 100% of the loan portfolio was HUF denominated. The gearing ratio defined as net debt divided by net debt plus total equity was 31.0% at December 31, 2007 compared to 27.9% a year earlier.
This excerpt taken from the MTA 6-K filed Nov 8, 2007. Loans and other borrowings
The current portion of loans and other borrowings decreased by 25.6% from September 30, 2006 to HUF 65.5 bn at September 30, 2007. Non current loans and other borrowings increased by 36.4% from September 30, 2006 to HUF 310.4 bn at September 30, 2007.
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The increase in the total loan portfolio resulted from the financing of KFKI and Dataplex acquisitions and the dividend related to 2005 and 2006 paid in January 2007 and May 2007, respectively.
At September 30, 2007, almost 100% of the loan portfolio was HUF denominated. The gearing ratio defined as net debt divided by net debt plus total equity was 32.2% at September 30, 2007 compared to 26.4% a year earlier.
This excerpt taken from the MTA 6-K filed Aug 9, 2007. Loans and other borrowings The current portion of loans and other borrowings decreased by 21.5% from June 30, 2006 to HUF 78.5 bn at June 30, 2007. Non current loans and other borrowings increased by 40.9% from June 30, 2006 to HUF 324.3 bn at June 30, 2007. The increase in the total loan portfolio resulted from the financing of KFKI and Dataplex acquisitions and the dividend related to 2005 and 2006 paid in January 2007 and May 2007, respectively. At June 30, 2007, almost 100% of the loan portfolio was HUF denominated. The gearing ratio defined as net debt divided by net debt plus total equity was 35.1% at June 30, 2007 compared to 29.6% a year earlier. This excerpt taken from the MTA 20-F filed Jun 27, 2007. 2.13 Loans and other borrowings Borrowings are recognized initially at fair value less transaction costs, and subsequently measured at amortized costs using the effective interest rate method. The effective interest is recognized in the income statement (Finance expense) over the period of the borrowings. Fair values of loans and other borrowings calculated using the discounted cashflow method is also presented in the financial statements (Notes 16 and 17). This excerpt taken from the MTA 6-K filed May 10, 2007. Loans and other borrowings The current portion of loans and other borrowings increased by 24.3% from March 31, 2006 to HUF 95.2 bn at March 31, 2007. Non current loans and other borrowings increased by 4.5% from March 31, 2006 to HUF 271.3 bn at March 31, 2007. The increase in the total loan portfolio resulted from the financing of KFKI and Dataplex acquisitions and the dividend related to 2005 but paid in January 2007. These affected the current portion of the loan portfolio more than the non current. At March 31, 2007, almost 100% of the loan portfolio was HUF denominated. The gearing ratio defined as net debt divided by net debt plus total equity was 31.7% at March 31, 2007 compared to 30.7% a year earlier. This excerpt taken from the MTA 20-F filed Feb 22, 2007. (m) Loans and other borrowings Borrowings are recognized initially at fair value less transaction costs. In subsequent periods, they are stated at amortized costs. The effective interest is recognized in the income statement over the period of the borrowings. Borrowing costs are recognized as an expense as incurred, net of amounts capitalized. Interest on general borrowings was capitalized as part of the cost of the relevant fixed asset, up to the date of commissioning and is then amortized over the period the asset is depreciated. The rate used to determine the amount of borrowing costs eligible for capitalization was defined as the ratio of equity to debt financing, where debt excludes short term borrowings and loans related to the financing of acquisitions. As all loans taken for capital expenditure on tangible and intangible assets were repaid by the end of 2003, no interest was capitalized in 2004 and 2005. F-23 MAGYAR TELEKOM Effective borrowing cost (note 17) is calculated using the average amount of loans and other borrowings during the year and the total interest and other financial charges. The weighted average interest rate on borrowings is calculated using the average amount of loans and other borrowings during the year and the interest expense charged. Fair value information on loans and other borrowings is also presented in the financial statements (note 17). Fair value of loans and other borrowings is calculated using the discounted cashflow method. This excerpt taken from the MTA 6-K filed Feb 13, 2007. Loans and other borrowings The current portion of loans and other borrowings decreased by 12.4% from December 31, 2005 to HUF 103.6 bn at December 31, 2006. Non current loans and other borrowings decreased by 8.9% from December 31, 2005 to HUF 206.1 bn at December 31, 2006. These decreases in the loan portfolio reflect that in 2006 Magyar Telekom Plc. did not pay dividend for the year 2005 and the excess cash was used to repay loans. At December 31, 2006, almost 100% of the loan portfolio was HUF denominated. At the end of the year, 2006 38.9% of the loans bore floating interest rates. The gearing ratio defined as net debt divided by net debt plus total equity was 27.7% at December 31, 2006 compared to 33.2% a year earlier. This excerpt taken from the MTA 6-K filed Nov 9, 2006. Loans and other borrowings The current portion of loans and other borrowings decreased by 32.3% from September 30, 2005 to HUF 88.1 bn at September 30, 2006. Non current loans and other borrowings decreased by 1.7% from September 30, 2005 to HUF 227.6 bn at September 30, 2006. This slight decrease in the non current portfolio and the significant drop of the current loan portfolio reflect that Magyar Telekom Plc. has not approved and paid its planned dividend yet and the excess cash was used to repay loans. At September 30, 2006, almost 100% of the loan portfolio was HUF denominated. At the end of the first three quarters of 2006, 41.1% of the loans bore floating interest rates. The gearing ratio defined as net debt divided by net debt plus equity (including minority interest) was 26.4% at September 30, 2006 compared to 35.8% a year earlier. This excerpt taken from the MTA 6-K filed Aug 10, 2006. Loans and other borrowings The current portion of loans and other borrowings decreased by 32.4% from June 30, 2005 to HUF 99.1 bn at June 30, 2006. Non current loans and other borrowings decreased by 8.7% from June 30, 2005 to HUF 230.2 bn at June 30, 2006. This slight decrease in the non current portfolio and the significant set-back of the current loan portfolio reflects that Magyar Telekom Plc. has not approved and paid its planned dividend yet and the cashflow of the Magyar Telekom Group has mainly financed the repayments of the current loan portfolio. At June 30, 2006, almost 100% of the loan portfolio was HUF denominated. At the end of the first half of 2006, 43.2% of the loans bore floating interest rates. The gearing ratio defined as net debt divided by net debt plus equity plus minority interest was 29.6% at June 30, 2006 compared to 38.5% a year earlier. This excerpt taken from the MTA 6-K filed May 11, 2006. Loans and other borrowings
The current portion of loans and other borrowings decreased by 53.5% from March 31, 2005 to HUF 76.5 bn at March 31, 2006. This decrease in current loans and other borrowings is mainly due to HUF 73.7 bn of loans from DT International Finance BV, which matured in January 2006 and was financed by a long term inter-company loan.
Non current loans and other borrowings increased by 39.1% from March 31, 2005 to HUF 259.7 bn at March 31, 2006. This significant increase reflects the balance of two effects. On the one hand, the maturity date of the existing loan portfolio has come closer; on the other hand, new long term loans increased the amount of the non current loan portfolio.
At March 31, 2006, almost 100% of the loan portfolio was HUF denominated. At the end of the first quarter of 2006, 44.0% of the loans bore floating interest rates. The gearing ratio defined as net debt divided by net debt plus equity plus minority interest was 30.6% at March 31, 2006 compared to 33.3% a year earlier.
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These excerpts taken from the MTA 6-K filed Nov 9, 2005. Loans and other borrowingsThe current portion of loans and other borrowings increased by 36.1% from September 30, 2004 to HUF 130.0 bn at September 30, 2005. This increase in current loans and other borrowings is mainly due to HUF 73.7 bn of loans from DT International Finance BV, which matured into current.
Non current loans and other borrowings increased by 0.5% from September 30, 2004 to HUF 231.6 bn at September 30, 2005. This slight increase reflects the balance of two effects. On the one hand, the maturity date of the existing loan portfolio has come closer; on the other hand, new long term loans which financed the dividend payment of Magyar Telekom Rt. and the acquisition of the majority stake in TCG increased the amount of the non current loan portfolio.
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At September 30, 2005, almost 100% of the loan portfolio was HUF denominated. At the end of the first three quarters of 2005, 27.5% of the loans bore floating interest rates. The gearing ratio defined as net debt divided by net debt plus equity plus minority interest was 35.8% at September 30, 2005 compared to 33.1% a year earlier.
Loans and other borrowingsThe current portion of loans and other borrowings increased by 36.1% from September 30, 2004 to HUF 130.0 bn at September 30, 2005. This increase in current loans and other borrowings is mainly due to HUF 73.7 bn of loans from DT International Finance BV, which matured into current.
Non current loans and other borrowings increased by 0.5% from September 30, 2004 to HUF 231.6 bn at September 30, 2005. This slight increase reflects the balance of two effects. On the one hand, the maturity date of the existing loan portfolio has come closer; on the other hand, new long term loans which financed the dividend payment of Magyar Telekom Rt. and the acquisition of the majority stake in TCG increased the amount of the non current loan portfolio.
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At September 30, 2005, almost 100% of the loan portfolio was HUF denominated. At the end of the first three quarters of 2005, 27.5% of the loans bore floating interest rates. The gearing ratio defined as net debt divided by net debt plus equity plus minority interest was 35.8% at September 30, 2005 compared to 33.1% a year earlier.
These excerpts taken from the MTA 6-K filed Aug 11, 2005. Loans and other borrowingsThe current portion of loans and other borrowings decreased by 7.7% from June 30, 2004 to HUF 146.5 bn at June 30, 2005. This decrease in current loans and other borrowings reflects the change in the maturity structure of new financial facilities. During this period the matured loans were partly repaid from the cash generation of the Magyar Telekom Group and partly refinanced by non current loans.
Non current loans and other borrowings increased by 37.4% from June 30, 2004 to HUF 252.2 bn at June 30, 2005. This increase is mainly due to the loans taken from DT International Finance BV to finance the dividend payment of Magyar Telekom Rt. and the fact that the HUF 76.6 bn part of the HUF 126.6 bn intercompany loan matured on August 23, 2004 and HUF 40 bn loan matured on May 20, 2005 were refinanced from medium and long term
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intercompany loans. Additionally, the acquisition of majority stake in TCG was financed from medium term Deutsche Telekom intercompany loan increasing the non current part of the loan portfolio as well.
At June 30, 2005, almost 100% of the loan portfolio was HUF denominated. At the end of the first half of 2005, 31.6% of the loans bore floating interest rates. The gearing ratio defined as net debt divided by net debt plus equity plus minority interest was 38.5% at June 30, 2005 compared to 34.6% a year earlier.
Loans and other borrowingsThe current portion of loans and other borrowings decreased by 7.7% from June 30, 2004 to HUF 146.5 bn at June 30, 2005. This decrease in current loans and other borrowings reflects the change in the maturity structure of new financial facilities. During this period the matured loans were partly repaid from the cash generation of the Magyar Telekom Group and partly refinanced by non current loans.
Non current loans and other borrowings increased by 37.4% from June 30, 2004 to HUF 252.2 bn at June 30, 2005. This increase is mainly due to the loans taken from DT International Finance BV to finance the dividend payment of Magyar Telekom Rt. and the fact that the HUF 76.6 bn part of the HUF 126.6 bn intercompany loan matured on August 23, 2004 and HUF 40 bn loan matured on May 20, 2005 were refinanced from medium and long term
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intercompany loans. Additionally, the acquisition of majority stake in TCG was financed from medium term Deutsche Telekom intercompany loan increasing the non current part of the loan portfolio as well.
At June 30, 2005, almost 100% of the loan portfolio was HUF denominated. At the end of the first half of 2005, 31.6% of the loans bore floating interest rates. The gearing ratio defined as net debt divided by net debt plus equity plus minority interest was 38.5% at June 30, 2005 compared to 34.6% a year earlier.
These excerpts taken from the MTA 6-K filed May 12, 2005. Loans and other borrowings
The current portion of loans and other borrowings decreased by 10.4% from March 31, 2004 to HUF 164.3 bn at March 31, 2005. This decrease in current loans and other borrowings reflects the strong cash generation of Magyar Telekom Group, which allowed to repay the maturing HUF 12.5 bn EIB Telecommunications Project II/B loan with value date June 25, 2004 and to repay HUF 23 bn under the HUF 126.6 bn Deutsche Telekom intercompany loan as well as HUF 10 bn under the HUF 20 bn Deutsche Telekom intercompany loan.
Non-current loans and other borrowings increased by 54.6% from March 31, 2004 to HUF 186.7 bn at March 31, 2005. This increase is mainly due to the loans taken from DT International Finance BV to finance the dividend payment of Magyar Telekom Rt. and the fact that the HUF 76.6 bn part of the HUF 126.6 bn intercompany loan matured on August 23, 2004 was mainly refinanced from medium- and long-term intercompany loans. Additionally, the acquisition of majority stake in TCG was financed from medium-term Deutsche Telekom intercompany loan increasing the non-current part of the loan portfolio as well.
At March 31, 2005, almost 100% of the loan portfolio was HUF denominated. At the end of the first quarter of 2005, 33.8% of the loans bore floating interest rates. The gearing ratio defined as net debt divided by net debt plus equity plus minority interest was 33.3% at March 31, 2005 compared to 30.4% a year earlier.
Loans and other borrowings
The current portion of loans and other borrowings decreased by 10.4% from March 31, 2004 to HUF 164.3 bn at March 31, 2005. This decrease in current loans and other borrowings reflects the strong cash generation of Magyar Telekom Group, which allowed to repay the maturing HUF 12.5 bn EIB Telecommunications Project II/B loan with value date June 25, 2004 and to repay HUF 23 bn under the HUF 126.6 bn Deutsche Telekom intercompany loan as well as HUF 10 bn under the HUF 20 bn Deutsche Telekom intercompany loan.
Non-current loans and other borrowings increased by 54.6% from March 31, 2004 to HUF 186.7 bn at March 31, 2005. This increase is mainly due to the loans taken from DT International Finance BV to finance the dividend payment of Magyar Telekom Rt. and the fact that the HUF 76.6 bn part of the HUF 126.6 bn intercompany loan matured on August 23, 2004 was mainly refinanced from medium- and long-term intercompany loans. Additionally, the acquisition of majority stake in TCG was financed from medium-term Deutsche Telekom intercompany loan increasing the non-current part of the loan portfolio as well.
At March 31, 2005, almost 100% of the loan portfolio was HUF denominated. At the end of the first quarter of 2005, 33.8% of the loans bore floating interest rates. The gearing ratio defined as net debt divided by net debt plus equity plus minority interest was 33.3% at March 31, 2005 compared to 30.4% a year earlier.
This excerpt taken from the MTA 20-F filed May 11, 2005. 18 Loans and other borrowings
At December 31, 2004, principal repayments fall due in:
The effective borrowing cost (total interest payable and other charges) for Matáv's loans and borrowings was 11.9% in 2004 (11.9% in 2003, 7.0% in 2002). The weighted average interest rate on borrowings was 10.9% in 2004 (7.5% in 2003, 6.4% in 2002). F-38 These excerpts taken from the MTA 6-K filed Feb 11, 2005. Loans and other borrowings
The current portion of loans and other borrowings decreased by 51.0% from December 31, 2003 to HUF 94.5 bn at December 31, 2004. This decrease in current loans and other borrowings reflects the strong cash generation of Matáv, which allowed to repay the maturing HUF 12.5 bn EIB Telecommunications Project II/B loan with value date June 25, 2004 and to repay HUF 23 bn under the HUF 126.6 bn Deutsche Telekom intercompany loan.
Non-current loans and other borrowings increased by 86.3% from December 31, 2003 to HUF 226.1 bn at December 31, 2004. This increase is mainly due to the loans taken from DT International Finance BV to finance the dividend payment of Matáv Rt. and the fact that the HUF 76.6 bn part of the HUF 126.6 bn intercompany loan matured on August 23, 2004 was mainly refinanced from medium- and long term intercompany loans.
At December 31, 2004, almost 100% of the loan portfolio was HUF denominated. At the end of 2004, 44.2% of the loans bore floating interest rates. The gearing ratio defined as net debt divided by net debt plus equity plus minority interest was 32.9% at December 31, 2004 compared to 31.6% a year earlier.
Loans and other borrowings
The current portion of loans and other borrowings decreased by 51.0% from December 31, 2003 to HUF 94.5 bn at December 31, 2004. This decrease in current loans and other borrowings reflects the strong cash generation of Matáv, which allowed to repay the maturing HUF 12.5 bn EIB Telecommunications Project II/B loan with value date June 25, 2004 and to repay HUF 23 bn under the HUF 126.6 bn Deutsche Telekom intercompany loan.
Non-current loans and other borrowings increased by 86.3% from December 31, 2003 to HUF 226.1 bn at December 31, 2004. This increase is mainly due to the loans taken from DT International Finance BV to finance the dividend payment of Matáv Rt. and the fact that the HUF 76.6 bn part of the HUF 126.6 bn intercompany loan matured on August 23, 2004 was mainly refinanced from medium- and long term intercompany loans.
At December 31, 2004, almost 100% of the loan portfolio was HUF denominated. At the end of 2004, 44.2% of the loans bore floating interest rates. The gearing ratio defined as net debt divided by net debt plus equity plus minority interest was 32.9% at December 31, 2004 compared to 31.6% a year earlier.
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