|Medium/long term mortgages and loans |
- Current portion of medium/longterm loans
|Medium/long term project financing |
- Current portion of project financing
|Other medium/long-term financial payables||106,428||141,947|
Medium/long-term mortgages and loans
• a corporate acquisition loan of EUR 350 million, subscribed by seven mandated Italian and foreign lead arrangers and bookrunners concerning the acquisition of the entire hydroelectric business belonging to E.ON Produzione, now ERG Hydro S.r.l.;
• three bilateral corporate loans with Mediobanca S.p.A. (EUR 150 million) and UBI Banca S.p.A. (EUR 100 million) concluded in the first half of 2016 to refinance the short-term portion of the corporate acquisition loan concluded for the acquisition of ERG Hydro S.r.l. and with Unicredit S.p.A. (EUR 75 million) for the project loan relating to the wind farm at Corni (Romania);
• liability deriving from the issue of the non convertible bond (EUR 99 million at 31 December 2017) made in July 2017, directed at raising additional funds for new capital expenditure in the sector of renewable energies and to refinance the capital expenditure made on hydroelectric plants in Italy.
The loans are presented net of commission cost and other ancillary costs for an initial value of EUR 10.6 million. These costs were recognised according to the cost method.