RUBIS_REGISTRATION_DOCUMENT_2017
FINANCIAL STATEMENTS 9
2017 consolidated financial statements and notes
4.10.2 Derivative financial instruments
Nominal amount hedged
Type of instrument
Market value as of 12/31/2017
Hedges/hedging/entity
Item hedged
Maturity
(in thousands of euros)
Rate
Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan Loan
€30M €25M €25M €10M
03/2020 09/2020 09/2026 12/2019 12/2019 06/2018 11/2019 01/2022 12/2019 07/2020 05/2022 01/2020 02/2022 02/2023 03/2024 05/2022 05/2022 07/2018 07/2018
swap swap
(252) (413)
Rubis Terminal
cap
373 (88) (36) (16)
Rubis Énergie
swap swap swap swap swap swap swap swap swap swap swap swap swap swap swap swap
€8M €9M
€50M €37M
(423) (300) (367) (116) (487) (359)
€100M €30M €66M €42M €75M €75M €50M €50M €100M
(73)
34
(274)
(16) (11)
Rubis Antilles Guyane
€1M €0M
(4) (1)
Propane Rubis Énergie
03/2018 to 10/2019
Propane purchases
16,905 t
swap
1,719
TOTAL FINANCIAL INSTRUMENTS
€783 MILLION
(1,111)
The fair value of derivative financial instruments carried by the Group includes a “counterparty risk” component for derivative assets and an “own credit risk” component
for derivative instrument liabilities. Credit risk is assessed using conventional mathematical models for market participants. Adjustments recorded in respect of counterparty risk and
own credit risk as of December 31, 2017 were not material.
Interest rate risk
Maturity
Total amount of lines (in thousands of euros)
Less than 1 year 70,339 139,684
Between 1 and 5 years
More than 5 years
Existence or not of a hedge
Characteristics of loans contracted
Rate
Euros
Fixed rate
197,724
123,709 955,285
3,676
Variable rate Fixed rate Variable rate
1,177,469
82,500
YES
Pula
906
477 108
429
Swiss francs
Fixed rate
2,464
2,356 8,175 2,702
Variable rate
14,100
5,925
Rands
Fixed rate
3,377
675
Variable rate
US dollars
Fixed rate
32,131
3,561 5,866 2,115
28,570
Variable rate
8,251 9,516
2,385 7,401
Jamaican dollars
Fixed rate
Variable rate
TOTAL
1,445,938
228,750
1,131,012
86,176
2017 Registration Document I RUBIS 212
Interest rate risk for the Group is limited to the loans obtained. None of the Group’s loans to date is likely to be repaid due to the enforcement of covenants.
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