technicolor - 2018 Registration document

6 FINANCIAL STATEMENTS

NOTE 8 FINANCIAL ASSETS, FINANCING LIABILITIES & DERIVATIVE FINANCIAL INSTRUMENTS

SUMMARY OF DEBT 8.3.2 Details of the Group’s debt as of December 31, 2018 are given in the table below:

IFRS Amount (see ote 8.3.3.4)

Nominal Amount

Type of rate

Nominal rate (1)

Effective rate (1)

Repayment Type

Final maturity

Currency

(in million euros)

Dec. 6, 2023 Dec. 6, 2023 Dec. 6, 2023

257 Floating (3)

5.46% 5.58%Amortizing (4)

Term Loan Debt

USD 258 (2)

Term Loan Debt

EUR

275

274 Floating (5)

3.00% 3.11% Bullet

Term Loan Debt

EUR 450 447 Floating (6)

3.50% 3.63% Bullet

Total

EUR 983

978

3.87% 4.00% 5.18% 5.18% 3.93% 4.05%

EUR

46

46

Other Debt (7)

TOTAL

EUR 1,029 1,024

Rates as of December 31, 2018. (1) Remaining principal of U.S.$294.75 million. (2) 3 month LIBOR with a floor of 0% + 275bp. (3) Amortization of U.S.$750,000 per quarter. (4) 3 month EURIBOR with a floor of 0% + 300bp. (5) 3 month EURIBOR with a floor of 0% + 350bp. (6) Of which €3 million is accrued interest and €41 million of capital leases. (7)

MAIN FEATURES OF THE GROUP’S BORROWINGS 8.3.3 The table below gives the contractual maturity schedule of the Group’s debt.

2018

2017

(in million euros)

Less than 1 month

6 3

5

Between 1 and 6 months

13

Between 6 months and less than 1 year Total current debt less than 1 year

11

2

20

20

Between 1 and 2 years Between 2 and 3 years Between 3 and 4 years Between 4 and 5 years Total non-current debt Total nominal debt IFRS Adjustment (1) DEBT UNDER IFRS Over 5 years

15 17

17

7 2 5

5

972

-

1,052 1,083 1,103

1,009 1,029

(5)

(6)

1,024

1,097

Debt issuance costs amortized via the effective interest rate method. (1)

Security Package Technicolor granted security interests to secure the Debt Instruments with the pledge of the shares of the main subsidiaries of Technicolor SA and of certain intra-group loans and material cash pooling bank accounts. Early repayment and mandatory prepayments In case of default or change of control of Technicolor, creditors will have the ability to immediately demand payment of all or a portion of the outstanding amounts.

8.3.4

FINANCIAL COVENANTS AND OTHER LIMITATIONS

In respect of the: term Loan Debt Agreement entered into in December 2016 as • amended in March 2017 and the RCF entered into in December 2016, • together the “Debt instruments”, the Group is required to meet financial covenants and is subject to several limitations described below.

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TECHNICOLOR REGISTRATION DOCUMENT 2018