FFP_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS

Consolidated financial statements

NOTE 22

CURRENT AND NON-CURRENT FINANCIAL LIABILITIES

22.1 POSITION

31/12/2017

31/12/2016

(in thousands euros)

Bonds (1)

242,500

-

Bank borrowings FFP

218,000

328,000

Château Guiraud

7,704

7,165

Subscription commitments and shares not paid-up

342,656

240,739 10,878

5,929

Derivative instruments (2)

Other

14

79

TOTAL NON-CURRENT FINANCIAL LIABILITIES

816,803

586,861

Bank borrowings

3,569 1,144 4,713

Château Guiraud

3,448 3,321 6,769

Accrued interest on borrowings

TOTAL CURRENT FINANCIAL LIABILITIES

TOTAL FINANCIAL LIABILITIES 591,574 (1) In 2017, FFP carried out two private placements of bonds (Euro PP). The first placement took place in June, consisting of €155,000 thousand of bonds maturing in July 2025 with an annual coupon of 2.50%. The second took place at the end of the year, consisting of €87,500 thousand of bonds breaking down as follows:  W a tap issue (bonds of the same type as the first tranche) in an amount of €57,500 thousand;  W a new tranche consisting of €10,000 thousand of 8-year bonds maturing in January 2026 with a coupon of 2.60%;  W a new tranche consisting of €20,000 thousand of 10-year bonds maturing in December 2027 with a coupon of 3.00%. (2) FFP has hedged its credit facilities against interest-rate risk by taking out fixed-for-floating interest-rate swaps in an amount of €280,000 thousand. The fair value of these instruments at 31 December 2017 was €5,929 thousand. Subscription commitments and shares not paid-up comprised US-dollar commitments of €235,972 thousand in 2017 and €143,956 thousand in 2016. All other commitments are stated in euros. 823,572

5 .1

22.2 MATURITY SCHEDULE AT 31/12/2017

Maturity (in thousands euros)

Less than 1 year Between 1 and 5 years More than 5 years

Total

Bonds

-

-

242,500

242,500

Bank borrowings FFP borrowings

-

218,000

-

218,000 11,152

Château Guiraud borrowings

3,448

1,634 3,989

6,070 1,940

Derivative instruments

- -

5,929

342,656

- -

342,656

Subscription commitments and shares not paid-up (1)

Accrued interest on borrowings and other

3,321 6,769

14

3,335

TOTAL (2) 823,572 (1) Since calls are made by funds depending on their respective investments, and generally within 5 years from the subscription of units, their timing cannot be determined accurately, and so they have been included in the “between 1 and 5 years” category. These calls correspond to commitments at their nominal value, without any discounting effect. (2) The portion due in less than 1 year breaks down as follows: €5,905 thousand in less than 3 months and €864 thousand in between 3 and 12 months. Credit facilities previously due to expire in 2019 and 2020, in an amount of €250 million, have been extended by a further year. They are now due to expire in 2020 and 2021. Credit facilities previously due to expire in 2018, in an amount of €50 million, have been renewed early and are now due to expire in 2021. 566,293 250,510

147

FFP

2017 REGISTRATION DOCUMENT