NOTE 15 — OTHER CURRENT AND NON-CURRENT FINANCIAL LIABILITIES
Liabilities are detailed as follows:
|
Current |
|
12.31.2017 |
|
12.31.2016 |
|
|
|
|
ThCh$ |
|
ThCh$ |
|
|
Bank loans |
|
31,470,003 |
|
20,609,887 |
|
|
Bonds payable |
|
20,156,295 |
|
26,729,828 |
|
|
Deposits in guarantee |
|
13,849,504 |
|
13,446,077 |
|
|
Derivative contract obligations (see note 20) |
|
445,278 |
|
1,229,354 |
|
|
Leasing agreements |
|
2,060,325 |
|
2,785,424 |
|
|
|
|
|
|
|
|
|
Total |
|
67,981,405 |
|
64,800,570 |
|
|
|
|
|
|
|
|
|
Non-current |
|
12.31.2017 |
|
12.31.2016 |
|
|
|
|
ThCh$ |
|
ThCh$ |
|
|
Bank loans |
|
13,057,542 |
|
17,736,697 |
|
|
Bonds payable |
|
648,228,554 |
|
685,684,184 |
|
|
Leasing agreements |
|
14,481,105 |
|
18,149,706 |
|
|
|
|
|
|
|
|
|
Total |
|
675,767,201 |
|
721,570,587 |
|
|
|
|
|
|
|
|
The fair value of financial assets and liabilities as of December 31, 2017 and December 31, 2016 is presented below:
|
Current |
|
Book Value |
|
Fair Value |
|
Book Value |
|
Fair Value |
|
|
|
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
|
Cash and cash equivalents (3) |
|
136,242,116 |
|
136,242,116 |
|
141,263,880 |
|
141,263,880 |
|
|
Other financial assets (3) |
|
14,138,161 |
|
14,138,161 |
|
60,152.627 |
|
60,152,627 |
|
|
Trade and other accounts receivable (3) |
|
191,284,680 |
|
191,284,680 |
|
190,524,354 |
|
190,524,354 |
|
|
Accounts receivable from related companies (3) |
|
5,370,232 |
|
5,370,232 |
|
5,788,683 |
|
5,788,683 |
|
|
Bank loans (1) |
|
31,470,003 |
|
31,006,898 |
|
20,609,887 |
|
20,932,073 |
|
|
Bonds payable (2) |
|
20,156,295 |
|
22,484,452 |
|
26,729,828 |
|
29,338,170 |
|
|
Deposits in guarantee (3) |
|
13,849,504 |
|
13,849,504 |
|
13,446,077 |
|
13,446,077 |
|
|
Derivative contract obligations (see note 20) |
|
445,278 |
|
445,278 |
|
1,229,354 |
|
1,229,354 |
|
|
Leasing agreements (3) |
|
2,060,325 |
|
2,060,325 |
|
2,785,424 |
|
2,785,424 |
|
|
Trade and other accounts payable (3) |
|
257,519,477 |
|
257,519,477 |
|
242,836,356 |
|
242,836,356 |
|
|
Accounts payable from related companies (3) |
|
33,961,437 |
|
33,961,437 |
|
44,120,335 |
|
44,120,335 |
|
|
Non-current |
|
12.31.2017 |
|
12.31.2017 |
|
12.31.2016 |
|
12.31.2016 |
|
|
|
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
|
Other financial assets (3) |
|
74,259,085 |
|
75,259,085 |
|
80,180,880 |
|
80,180,880 |
|
|
Trade and other accounts receivable(3) |
|
2,395,851 |
|
2,395,851 |
|
3,527,732 |
|
3,527,732 |
|
|
Accounts receivable from related companies (3) |
|
156,492 |
|
156,492 |
|
147,682 |
|
147,682 |
|
|
Bank loans (1) |
|
13,057,542 |
|
11,588,575 |
|
17,736,697 |
|
14,365,502 |
|
|
Bonds payable (2) |
|
648,228,554 |
|
722,044,324 |
|
685,684,184 |
|
752,078,561 |
|
|
Leasing agreements (3) |
|
14,481,105 |
|
14,481,105 |
|
18,149,706 |
|
18,149,706 |
|
|
(1) |
The fair values are based on discounted cash flows using market-based discount rates as of year-end and are Level 2 fair value measurements. |
|
(2) |
The fair value of corporate bonds is classified as Level 1 fair value measurements based on quoted prices for the Company’s obligations. |
|
(3) |
The fair value approximates book value considering the nature and term of the obligations. |
15.1.1 Bank obligations, current
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maturity |
|
Total |
|
||||
|
Indebted Entity |
|
Creditor Entity |
|
|
|
Type |
|
Effective |
|
Nominal |
|
Up to |
|
90 days |
|
at |
|
at |
|
||||||||
|
Tax ID, |
|
Name |
|
Country |
|
Tax ID, |
|
Name |
|
Country |
|
Currency |
|
Amortization |
|
Rate |
|
Rate |
|
90 days |
|
To 1 year |
|
12.31.2017 |
|
12.31.2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
|
91.144.000-8 |
|
Embotelladora Andina S.A. |
|
Chile |
|
97032000-8 |
|
Banco Bilbao Viscaya Argentaria, |
|
Chile |
|
Chilean pesos |
|
Monthly |
|
3,64 |
% |
3,64 |
% |
— |
|
300,000 |
|
300,000 |
|
— |
|
|
96.705.990-0 |
|
Envases Central S.A. |
|
Chile |
|
97.006.000-6 |
|
Banco BCI |
|
Chile |
|
Unidad de fomento |
|
Semiannually |
|
2,13 |
% |
2,13 |
% |
— |
|
709,794 |
|
709,794 |
|
655,752 |
|
|
Foreign |
|
Embotelladora del Atlántico S.A. |
|
Argentina |
|
Foreign |
|
Banco de la Nación Argentina |
|
Argentina |
|
Argentine pesos |
|
Monthly |
|
20,00 |
% |
20,00 |
% |
75,863 |
|
9,889,270 |
|
9,965,133 |
|
— |
|
|
Foreign |
|
Embotelladora del Atlántico S.A. |
|
Argentina |
|
Foreign |
|
Banco Galicia y Bs. As. |
|
Argentina |
|
Argentine pesos |
|
Quarterly |
|
15.25 |
% |
15.25 |
% |
— |
|
— |
|
— |
|
340 |
|
|
Foreign |
|
Andina Empaques Argentina S.A. |
|
Argentina |
|
Foreign |
|
Banco Galicia y Bs. As. |
|
Argentina |
|
Argentine pesos |
|
Monthly |
|
20,00 |
% |
20,00 |
% |
55,994 |
|
3,296,423 |
|
3,352,417 |
|
335,722 |
|
|
Foreign |
|
Embotelladora del Atlántico S.A. |
|
Argentina |
|
Foreign |
|
Banco de la Nación Argentina |
|
Argentina |
|
Argentine pesos |
|
Monthly |
|
15,25 |
% |
15,25 |
% |
— |
|
— |
|
— |
|
39,942 |
|
|
Foreign |
|
Embotelladora del Atlántico S.A. |
|
Argentina |
|
Foreign |
|
BBBVA Banco Frances |
|
Argentina |
|
Argentine pesos |
|
Monthly |
|
15,25 |
% |
15,25 |
% |
— |
|
— |
|
— |
|
34,861 |
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Banco Itaú |
|
Brazil |
|
Dollars |
|
Monthly |
|
2.992 |
% |
2.992 |
% |
— |
|
— |
|
— |
|
12,017,942 |
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Banco Itaú |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
7,48 |
% |
7,48 |
% |
11,688 |
|
286,768 |
|
298,456 |
|
— |
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Banco Santander |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
6,63 |
% |
6,63 |
% |
592,682 |
|
766,789 |
|
1,359,471 |
|
954,556 |
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Banco Itaú |
|
Brazil |
|
Brazilian real |
|
Quarterly |
|
7,15 |
% |
7,15 |
% |
278,803 |
|
1,332,944 |
|
1,611,747 |
|
2,839,713 |
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Banco Itaú |
|
Brazil |
|
Brazilian real |
|
Semiannually |
|
4,50 |
% |
4,50 |
% |
1,905,762 |
|
635,254 |
|
2,541,016 |
|
3,731,059 |
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Banco Itaú |
|
Brazil |
|
Brazilian real |
|
Semiannually |
|
6,24 |
% |
6,24 |
% |
— |
|
11,331,969 |
|
11,331,969 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31,470,003 |
|
20,609,887 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15.1.2 Bank obligations, non-current December 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maturity |
|
||||||||||
|
Indebted Entity |
|
Creditor Entity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
More 4 |
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Type |
|
Effective |
|
Nominal |
|
1 year up to |
|
More 2 years |
|
More 3 years |
|
Up to 5 |
|
More 5 |
|
at |
|
|
Tax ID |
|
Name |
|
Country |
|
Tax ID |
|
Name |
|
Country |
|
Currency |
|
Amortization |
|
Rate |
|
Rate |
|
2 years |
|
Up to 3 years |
|
Up to 4 years |
|
years |
|
Years |
|
12.31.2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
96.705.990-0 |
|
Envases Central S.A. |
|
Chile |
|
97.080.000-K |
|
Bice |
|
Chile |
|
Unidad de fomento |
|
Semiannually |
|
2,1 |
% |
2,1 |
% |
2,092,245 |
|
— |
|
— |
|
— |
|
— |
|
2,092,245 |
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Alfa |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
7,48 |
% |
7,5 |
% |
125,461 |
|
125,461 |
|
125,461 |
|
627,305 |
|
— |
|
1,003,688 |
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Itaú |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
6,6 |
% |
6,6 |
% |
504,700 |
|
197,779 |
|
44,639 |
|
128,887 |
|
— |
|
876,005 |
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Santander |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
7,2 |
% |
7,2 |
% |
1,593,608 |
|
1,202,096 |
|
663,779 |
|
2,449,851 |
|
— |
|
5,909,334 |
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Banco Itaú |
|
Brazil |
|
Brazilian real |
|
Quarterly |
|
4,5 |
% |
4,5 |
% |
3,176,270 |
|
— |
|
— |
|
— |
|
— |
|
3,176,270 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13,057,542 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15.1.2 Bank obligations, non-current December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maturity |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
More than 2 |
|
More than 3 |
|
More than 4 |
|
More |
|
|
|
|
Indebted Entity |
|
Creditor Entity |
|
|
|
Type |
|
Effective |
|
Nominal |
|
1 year up to |
|
years |
|
years |
|
years |
|
than 5 |
|
at |
|
||||||||
|
Tax ID |
|
Name |
|
Country |
|
Tax ID |
|
Name |
|
Country |
|
Currency |
|
Amortization |
|
Rate |
|
Rate |
|
2 years |
|
Up to 3 years |
|
Up to 4 years |
|
Up to 5 years |
|
Years |
|
12.31.2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Banco Itaú |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
6.63 |
% |
6.63 |
% |
1,485,327 |
|
547,219 |
|
431,726 |
|
— |
|
— |
|
2,464,272 |
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Banco Santander |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
7.15 |
% |
7.15 |
% |
1,985,981 |
|
3,042,278 |
|
2,832,515 |
|
158,490 |
|
— |
|
8,019,264 |
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Banco Itaú |
|
Brazil |
|
Brazilian real |
|
Quarterly |
|
4.50 |
% |
4.50 |
% |
4,213,075 |
|
2,106,537 |
|
— |
|
— |
|
— |
|
6,319,612 |
|
|
96.705.990-0 |
|
Envases Central S.A. |
|
Chile |
|
97.080.000-K |
|
Banco Bice |
|
Chile |
|
Unidad de fomento |
|
Semiannually |
|
3.43 |
% |
3.43 |
% |
933,549 |
|
— |
|
— |
|
— |
|
— |
|
933,549 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,736,697 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
In general, the Company’s bank obligations are not subject to the fulfilment of covenants as of December 31, 2017, ending this year, which was maintained by the subsidiary Rio de Janeiro Refrescos Ltda. with Banco Itaú.
15.2.1Bonds payable
|
|
|
Current |
|
Non-current |
|
Total |
|
||||||
|
|
|
12.31.2017 |
|
12.31.2016 |
|
12.31.2017 |
|
12.31.2016 |
|
12.31.2017 |
|
12.31.2016 |
|
|
|
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
|
Composition of bonds payable |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bonds (face value) |
|
20,547,117 |
|
27,112,986 |
|
651,459,940 |
|
690,150,930 |
|
672,007,057 |
|
717,263,916 |
|
|
Expenses of bond issuance and discounts on placement |
|
(390,822 |
) |
(383,158 |
) |
(3,231,386 |
) |
(4,466,746 |
) |
(3,622,208 |
) |
(4,849,904 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net balance presented in statement of financial position |
|
20,156,295 |
|
26,729,828 |
|
648,228,554 |
|
685,684,184 |
|
668,384,849 |
|
712,414,012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15.2.2Changes in liabilities arising from financing activities (Bonds Payable)
|
|
|
Total |
|
Cash Flows |
|
Total |
|
||||||
|
|
|
01.01.2017 |
|
Interest |
|
Capital |
|
Accrued |
|
Foreign |
|
12.31.2017 |
|
|
|
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
|
Bonds payable |
|
712,414,012 |
|
(32,459,909 |
) |
(18,286,457 |
) |
42,178,816 |
|
(35,461,613 |
) |
668,384,849 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities from financing activities |
|
712,414,012 |
|
(32,459,909 |
) |
(18,286,457 |
) |
42,178,816 |
|
(35,461,613 |
) |
668,384,849 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15.2.3Current and non-current balances
Obligations with the public correspond to bonds in UF issued by the parent company on the Chilean market and bonds in US dollars issued by the parent company on the international market:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date |
|
|
|
|
|
|
|
|
|
|
Face |
|
Unit of |
|
Interest |
|
final |
|
Interest |
|
Amortization of |
|
|
|
|
|
|
Bonds, current portion |
|
Series |
|
amount |
|
Adjustment |
|
rate |
|
Maturity |
|
Payment |
|
capital |
|
12.31.2017 |
|
12.31.2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ThCh$ |
|
ThCh$ |
|
|
CMF Registration N°640 CMF 08.23.2010 |
|
A |
|
— |
|
UF |
|
3.0 |
% |
08.15.2017 |
|
Semiannually |
|
02.15.2017 |
|
— |
|
6,660,552 |
|
|
CMF Registration N°254 CMF 06.13.2001 |
|
B |
|
2.333.646 |
|
UF |
|
6.5 |
% |
06.01.2026 |
|
Semiannually |
|
06.01.2018 |
|
6,071,687 |
|
5,656,992 |
|
|
CMF Registration N°641 08.23.2010 |
|
C |
|
1.500.000 |
|
UF |
|
4.0 |
% |
08.15.2031 |
|
Semiannually |
|
02.15.2021 |
|
597,049 |
|
587,020 |
|
|
CMF Registration N°759 08.20.2013 |
|
C |
|
750.000 |
|
UF |
|
3.5 |
% |
08.16.2020 |
|
Semiannually |
|
02.16.2018 |
|
6,959,157 |
|
6,929,828 |
|
|
CMF Registration N°760 08.20.2013 |
|
D |
|
4.000.000 |
|
UF |
|
3.8 |
% |
08.16.2034 |
|
Semiannually |
|
02.16.2032 |
|
1,502,299 |
|
1,487,844 |
|
|
CMF Registration N°760 04.02.2014 |
|
E |
|
3.000.000 |
|
UF |
|
3.75 |
% |
03.01.2035 |
|
Semiannually |
|
09.01.2032 |
|
998,409 |
|
978,933 |
|
|
Bonds USA |
|
— |
|
575.000.000 |
|
US$ |
|
5.0 |
% |
10.01.2023 |
|
Semiannually |
|
10.01.2023 |
|
4,418,516 |
|
4,811,817 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current portion |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20,547,117 |
|
27,112,986 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bonds non-current portion |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CMF Registration N°254 CMF 06.13.2001 |
|
B |
|
2.333.646 |
|
UF |
|
6.5 |
% |
06.01.2026 |
|
Semiannually |
|
06.01.2018 |
|
56,795,423 |
|
61,486,857 |
|
|
CMF Registration N°641 08.23.2010 |
|
C |
|
1.500.000 |
|
UF |
|
4.0 |
% |
08.15.2031 |
|
Semiannually |
|
02.15.2021 |
|
40,197,210 |
|
39,521,970 |
|
|
CMF Registration N°759 08.20.2013 |
|
C |
|
750.000 |
|
UF |
|
3.5 |
% |
08.16.2020 |
|
Semiannually |
|
02.16.2018 |
|
13,399,069 |
|
19,760,985 |
|
|
CMF Registration N°760 08.20.2013 |
|
D |
|
4.000.000 |
|
UF |
|
3.8 |
% |
08.16.2034 |
|
Semiannually |
|
02.16.2032 |
|
107,192,560 |
|
105,391,920 |
|
|
CMF Registration N°760 04.02.2014 |
|
E |
|
3.000.000 |
|
UF |
|
3.75 |
% |
03.01.2035 |
|
Semiannually |
|
09.01.2032 |
|
80,394,428 |
|
79,043,948 |
|
|
Bonds USA |
|
— |
|
575.000.000 |
|
US$ |
|
5.0 |
% |
10.01.2023 |
|
Semiannually |
|
10.01.2023 |
|
353,481,250 |
|
384,945,250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bonds non-current portion |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
651,459,940 |
|
690,150,930 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accrued interest included in the current portion of bonds totaled ThCh$8,105,642 and ThCh$8,646,270 at December 31, 2017 and December 31, 2016, respectively.
|
|
|
|
|
Year of maturity |
|
Total non- |
|
||||||
|
|
|
Series |
|
more than 1 |
|
more than 2 |
|
more than 3 |
|
More than 5 |
|
current |
|
|
|
|
|
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
|
SVS Registration N°254 06.13.2001 |
|
B |
|
6,115,168 |
|
6,512,654 |
|
6,935,977 |
|
37,231,622 |
|
56,795,421 |
|
|
SVS Registration N°641 08.23.2010 |
|
C |
|
— |
|
— |
|
3,654,292 |
|
36,542,918 |
|
40,197,210 |
|
|
SVS Registration N°759 08.20.2013 |
|
C |
|
6,699,535 |
|
6,699,535 |
|
— |
|
— |
|
13,399,070 |
|
|
SVS Registration N°760 08.20.2013 |
|
D |
|
— |
|
— |
|
— |
|
107,192,561 |
|
107,192,561 |
|
|
SVS Registration N°760 04.02.2014 |
|
E |
|
— |
|
— |
|
— |
|
80,394,428 |
|
80,394,428 |
|
|
Bonds USA |
|
— |
|
— |
|
— |
|
— |
|
353,481,250 |
|
353,481,250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
12,814,703 |
|
13,212,189 |
|
10,590,269 |
|
614,842,779 |
|
651,459,940 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15.2.5Market rating
The bonds issued on the Chilean market had the following rating as of December 31, 2017:
AA:ICR Compañía Clasificadora de Riesgo Ltda. rating
AA:Fitch Chile Clasificadora de Riesgo Limitada rating
The rating of bonds issued on the international market as of December 31, 2017, is the following:
BBB :Standard&Poors rating
BBB+ :Fitch Chile Clasificadora de Riesgo Limitada rating.
15.2.6Restrictions
15.2.6.1Restrictions regarding bonds placed abroad.
On September 26, 2013, Andina issued a bond in the U.S. Market (Bonds USA) for US$575 million at a coupon rate of 5.0% maturing on October 1, 2023. These bonds do not have financial restrictions.
15.2.6.2Restrictions regarding bonds placed in the local market.
For purposes of the calculation of the covenants, the amount of EBITDA that was agreed on each bond issue is included.
Restrictions regarding the issuance of bonds for a fixed amount registered under number 254.
The outstanding series as of December 31, 2017, is Series B for a nominal amount of up to UF 4 million, of which amount UF 3.7 million in bonds were placed with final maturity in the year 2026 at a 6.50% annual interest rate. The balance of outstanding capital as of December 31, 2017 is UF 2,333 million.
Series B was issued with charge to the bonds line registered with the Securities Registered under number 254 dated September 13, 2001.
Regarding Series B, the Issuer is subject to the following restrictions:
|
· |
Maintain an indebtedness level where Consolidated Financial Liabilities to Consolidated Equity does not exceed 1.20 times. For these purposes Consolidated Financial Liabilities shall be regarded as Liabilities Receivables accruing interest, namely: (i) other current financial liabilities, plus (ii) other non-current financial liabilities, less (iii) asset balances of derivative financial instruments, taken to cover exchange rate or interest rate risks on financial liabilities under “Other Current Financial Assets” and “Other non-current Financial Assets” of the Issuer’s Consolidated Financial Statements. Consolidated Equity will be regarded as total equity including non-controlling interest. |
As of December 31, 2017, indebtedness level is 0.84 times of Consolidated Equity.
The breakdown of accounts with the respective amounts used for the previous calculation is detailed as follows (in thousand Chilean pesos):
|
As of December 31, 2017, the values of items included in this indicator are |
|
ThCh$ |
|
|
Other current financial liabilities |
|
67,981,405 |
|
|
Other non-current financial liabilities |
|
675,767,201 |
|
|
(-) Other non-current financial assets (hedge derivatives) |
|
(61,898,833 |
) |
|
Consolidated Equity |
|
813,233,349 |
|
|
· |
Maintain, and in no manner lose, sell, assign or transfer to a third party, the geographical area currently denominated as the “Metropolitan Region” (Región Metropolitana) as a territory in Chile in which we have been authorized by The Coca-Cola Company for the development, production, sale and distribution of products and brands of the licensor, in accordance to the respective bottler or license agreement, renewable from time to time. |
|
· |
Not lose, sell, assign, or transfer to a third party any other territory of Argentina or Brazil, which as of this date is franchised by TCCC to the Company for the development, production, sale and distribution of products and brands of such licensor, as long as any of these territories account for more than 40% of the Issuer’s Adjusted Consolidated Operating Cash Flow. |
|
· |
Maintain consolidated assets free of any pledge, mortgage or other encumbrances for an amount at least equal to 1.30 times of the issuer’s unsecured consolidated liabilities. |
Unsecured consolidated liabilities payable shall be regarded as the total liabilities, obligations and debts of the issuer that are not secured by real guarantees on goods and assets of the latter, voluntarily and conventionally constituted by the issuer less the asset balances of derivative financial instruments, taken to cover exchange rate or interest rate risks on financial liabilities under “Other Current Financial Assets” and “Other non-current Financial Assets” of the Issuer’s Consolidated Statement of Financial Position.
The following will be considered in determining Consolidated Assets: assets free of any pledge, mortgage or other lien, as well as those assets having a pledge, mortgage or real encumbrances that operate solely by law, less asset balances of derivative financial instruments, taken to hedge exchange rate or interest rate risks on financial liabilities under “Other Current Financial Assets” and “Other non-current Financial Assets” of the Issuer’s Consolidated Statement of Financial Position. Therefore, Consolidated Assets free of any pledge, mortgage or other lien will only be regarded as those assets free of any pledge, mortgage or other real lien voluntarily and conventionally constituted by the issuer less asset balances of derivative financial instruments, taken to cover exchange rate or interest rate risks on financial liabilities and under “Other Current Financial Assets” and “Other non-current Financial Assets” of the Issuer’s Consolidated Statement of Financial Position.
As of December 31, 2017, this index is 1.62 times.
The accounts with the respective amounts used for the previous calculation are detailed as follows:
|
As of December 31, 2017, the values of items included in this restriction are |
|
ThCh$ |
|
|
Consolidated assets free of collateral, mortgages or other liens |
|
2,064,208,143 |
|
|
(-) Other current and non-current financial assets (hedge derivatives) |
|
(61,898,833 |
) |
|
Consolidated Assets free of pledges, mortgages or other liens (adjusted) |
|
2,002,309,310 |
|
|
|
|
|
|
|
Consolidated liabilities payable not guaranteed |
|
1,301,626,118 |
|
|
(-) Other current and non-current financial assets (hedge derivatives) |
|
(61,898,833 |
) |
|
Unsecured Consolidated Liabilities Payable (adjusted) |
|
1,239,727,285 |
|
Restrictions regarding bond lines registered in the Securities Registered under number 641.
Because of our merger with Coca-Cola Polar S.A., Andina became a debtor of the following two bonds placed in the Chilean market in 2010:
|
· |
UF 1.5 million of Series C bonds due 2031, bearing an annual interest rate of 4.00%. As of December 31, 2017, the balance of outstanding capital is UF 1.5 million. |
Series C was issued with charge to the Bond Lines registered with the Securities Registrar, under number 641, on August 23, 2010.
Regarding Series C, the Issuer is subject to the following restrictions:
|
· |
Maintain a level of “Net Financial Debt” within its quarterly financial statements that may not exceed 1.5 times, measured over figures included in its consolidated statement of financial position. To this end, net financial debt shall be defined as the ratio between net financial debt and total equity of the issuer (equity attributable to controlling owners plus non-controlling interest). On its part, net financial debt will be the difference between the Issuer’s financial debt and cash. |
As of December 31, 2017, Net Financial Debt was 0.65 times.
The accounts with the respective amounts used for the previous calculation are detailed as follows:
|
As of December 31, 2017, the values of items included in this restriction are |
|
ThCh$ |
|
|
Other current financial liabilities |
|
67,981,405 |
|
|
Other non-current financial liabilities |
|
675,767,201 |
|
|
(-) Cash and cash equivalent |
|
(136,242,116 |
) |
|
(-) Other current financial assets |
|
(14,138,161 |
) |
|
(-) Other non-current financial assets (hedge derivatives) |
|
(61,898,833 |
) |
|
Consolidated Equity |
|
813,233,349 |
|
|
· |
Maintain consolidated assets free of any pledge, mortgage or other encumbrances for an amount at least equal to 1.30 times of the issuer’s unsecured consolidated liabilities. |
Unencumbered assets refer to the assets that meet the following conditions: are the property of the issuer; classified under Total Assets of the Issuer’s Financial Statements; and that are free of any pledge, mortgage or other liens constituted in favor of third parties, less “Other Current Financial Assets” and “Other Non-Current Financial Assets” of the Issuer’s Financial Statements (to the extent they correspond to asset balances of derivative financial instruments, taken to hedge exchange rate and interest rate risk of the financial liabilities).
Unsecured total liabilities correspond to: liabilities from Total Current Liabilities and Total Non-Current Liabilities of Issuer’s Financial Statement which do not benefit from preferences or privileges, less “Other Current Financial Assets” and “Other Non-Current Financial Assets” of the Issuer’s Financial Statements (to the extent they correspond to asset balances of derivative financial instruments, taken to hedge exchange rate and interest rate risk of the financial liabilities).
As of December 31, 2017, this index is 1.62 times.
The accounts with the respective amounts used for the previous calculation are detailed as follows:
|
As of December 31, 2017, the values of items included in this restriction are |
|
ThCh$ |
|
|
Consolidated assets free of collateral, mortgages or other liens |
|
2,064,208,143 |
|
|
(-) Other current and non-current financial assets (hedge derivatives) |
|
(61,898,833 |
) |
|
Consolidated Assets free of pledges, mortgages or other liens (adjusted) |
|
2,002,309,310 |
|
|
|
|
|
|
|
Consolidated liabilities payable not guaranteed |
|
1,301,626,118 |
|
|
(-) Other current and non-current financial assets (hedge derivatives) |
|
(61,898,833 |
) |
|
Unsecured Consolidated Liabilities Payable (adjusted |
|
1,239,727,285 |
|
|
· |
Maintain a level of “Financial net coverage” in its quarterly financial statements of more than 3 times. Net financial coverage means the ratio between the Issuer’s Ebitda for the past 12 months and net financial expenses (financial income less financial expenses) of the issuer for the past 12 months. However, this restriction will be considered breached when the mentioned net financial coverage level is lower than the level previously indicated during two consecutive quarters. |
As of December 31, 2017 Net Financial Coverage level is 7.30 times.
The accounts with the respective amounts used for the previous calculation are detailed as follows:
|
As of December 31, 2017, the values of items included in this indicator are the following: |
|
ThCh$ |
|
|
(+) Consolidated Ebitda between January 1 and December 31, 2017 |
|
321,188,879 |
|
|
(+) Consolidated financial income between January 1 and December 31, 2017 |
|
11,194,375 |
|
|
(-) Consolidated Ebitda between January 1 and September 30, 2016 |
|
(55,220,369 |
) |
For the purpose of calculating the covenant, EBITDA was calculated as agreed in the bond issue.
Restrictions regarding bond lines registered in the Securities Registrar under numbers 759 and 760.
During 2013 and 2014, Andina placed local bonds in the Chilean market. The issuances were structured into three series.
|
· |
Series C outstanding as of December 31, 2017, for a nominal value of up to UF 3 million, of which bonds were placed for a nominal amount of UF1.0 million with final maturity during year 2020 at an annual interest rate of 3.50% issued against line number 759. Outstanding capital as of December 31, 2017, is UF 0.750 million. |
|
· |
Series D and E outstanding as of December 31, 2017, for a total nominal value of UF 8 million, of which UF 4 million were placed in bonds during August 2013 (series D) and UF 3 million during April 2014 (series E), with final maturity in 2034 and 2035, respectively, issued with charge against line number 760. The annual interest rates are 3.8% for Series D and 3.75% for Series E. The outstanding capital balance as of December 31, 2017, of both series amounts to UF 7.0 million. |
Regarding Series C, D and E, the Issuer is subject to the following restrictions:
|
· |
Maintain an indebtedness level where Consolidated Financial Liabilities to Consolidated Equity does not exceed 1.20 times. For these purposes Consolidated Financial Liabilities shall be regarded as Liabilities Receivables accruing interest, namely: (i) other current financial liabilities, plus (ii) other non-current financial liabilities, less (iii) cash and cash equivalent and (iv) other current financial assets, and (v) other non-current financial assets (to the extent they are asset balances of derivative financial instruments, taken to hedge exchange rate or interest rate risks on financial liabilities). Consolidated Equity will be regarded as total equity including non-controlling interest. |
As of December 31, 2017, Indebtedness Level is 0.65 times of Consolidated Equity.
The accounts with the respective amounts used for the previous calculation are detailed as follows:
|
As of December 31, 2017, the values of items included in this restriction are |
|
ThCh$ |
|
|
Other current financial liabilities |
|
67,981,405 |
|
|
Other non-current financial liabilities |
|
675,767,201 |
|
|
(-) Cash and cash equivalent |
|
(136,242,116 |
) |
|
(-) Other current financial assets |
|
(14,138,161 |
) |
|
(-) Other non-current financial assets (hedge derivatives) |
|
(61,898,833 |
) |
|
Consolidated Equity |
|
813,233,349 |
|
|
· |
Maintain consolidated assets free of any pledge, mortgage or other encumbrances for an amount at least equal to 1.30 times of the issuer’s unsecured consolidated liabilities payable. |
Unsecured Consolidated Liabilities Payable shall be regarded as the total liabilities, obligations and debts of the issuer that are not secured by real guarantees on goods and assets of the latter, voluntarily and conventionally constituted by the issuer less the asset balances of derivative financial instruments, taken to cover exchange rate or interest rate risks on financial liabilities under “Other Current Financial Assets” and “Other non-current Financial Assets” of the Issuer’s Consolidated Statement of Financial Position.
The following will be considered in determining Consolidated Assets: assets free of any pledge, mortgage or other lien, as well as those assets having a pledge, mortgage or real encumbrances that operate solely by law, less asset balances of derivative financial instruments, taken to hedge exchange rate or interest rate risks on financial liabilities under “Other Current Financial Assets” and “Other non-current Financial Assets” of the Issuer’s Consolidated Financial Statements. Therefore, Consolidated Assets free of any pledge, mortgage or other lien will only be regarded as those assets free of any pledge, mortgage or other real lien voluntarily and conventionally constituted by the issuer less asset balances of derivative financial instruments, taken to cover exchange rate or interest rate risks on financial liabilities and under “Other Current Financial Assets” and “Other non-current Financial Assets” of the Issuer’s Consolidated Statement of Financial Position.
As of December 31, 2017, this index is 1.62 times.
The accounts with the respective amounts used for the previous calculation are detailed as follows:
|
As of December 31, 2017, the values of items included in this restriction are |
|
ThCh$ |
|
|
Consolidated assets free of collateral, mortgages or other liens |
|
2,064,208,143 |
|
|
(-) Other current and non-current financial assets (hedge derivatives) |
|
(61,898,833 |
) |
|
Consolidated Assets free of pledges, mortgages or other liens (adjusted) |
|
2,002,309,310 |
|
|
|
|
|
|
|
Consolidated liabilities payable not guaranteed |
|
1,301,626,118 |
|
|
(-) Other current and non-current financial assets (hedge derivatives) |
|
(61,898,833 |
) |
|
Unsecured Consolidated Liabilities Payable (adjusted |
|
1,239,727,285 |
|
|
· |
Maintain, and in no manner, lose, sell, assign or transfer to a third party, the geographical area currently denominated as the “Metropolitan Region” as a territory franchised to the Issuer in Chile by The Coca-Cola Company, hereinafter also referred to as “TCCC” or the “Licensor” for the development, production, sale and distribution of products and brands of said licensor, in accordance to the respective bottler or license agreement, renewable from time to time. Losing said territory, means the non-renewal, early termination or cancellation of this license agreement by TCCC, for the geographical area today called “Metropolitan Region”. This reason shall not apply if, as a result of the loss, sale, transfer or disposition, of that licensed territory is purchased or acquired by a subsidiary or an entity that consolidates in terms of accounting with the Issuer. |
As of December 31, 2017, and December 31, 2016, the Company complies with all financial collaterals.
15.2.7Repurchased bonds
In addition to UF bonds, the Company holds bonds that it has repurchased in full through companies that are included in the consolidation:
Through its subsidiaries, Abisa Corp S.A. (formerly Pacific Sterling), Embotelladora Andina S.A. repurchased its Bonds USA issued on the U.S. Market during the years 2000, 2001, 2002, 2007 and 2008. The entire placement amounted to US$350 million, of which US$200 million are outstanding as of December 31, 2013. On December 15, 2014, Embotelladora Andina S.A. rescued US$200 million in outstanding bonds from its subsidiary Abisa Corp S.A., thus since legally debtor and creditor are joined in a single entity, the mentioned bond liability becomes extinguished.
The subsidiary Rio de Janeiro Refrescos Ltda. maintains a liability corresponding to a bond issuance for US $75 million due in December 2020 and semi-annual interest payments. As of December 31, 2017, these issues are held by Andina. On January 1, 2013, Abisa Corp S.A. transferred the totality of this asset to Embotelladora are Andina S.A., the latter becoming the creditor of the above-mentioned Brazilian subsidiary. Consequently, the assets and liabilities related to the transaction have been eliminated from these consolidated financial statements. In addition, the transaction has been treated as a net investment of the group in the Brazilian subsidiary; consequently, the effects of exchange rate differences between the dollar and the functional currency of each one has been recorded in other comprehensive income.
15.3.1Derivative contract obligations
Please see details in Note 20.
15.4.1Current liabilities for leasing agreements
|
|
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|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
Maturity |
|
Total |
|
||||
|
Indebted Entity |
|
Creditor Entity |
|
|
|
Amortization |
|
Effective |
|
Nominal |
|
Up to |
|
90 days to |
|
at |
|
At |
|
||||||
|
Name |
|
Country |
|
Tax ID |
|
type |
|
Type |
|
Currency |
|
Type |
|
rate |
|
rate |
|
90 days |
|
1 year |
|
12.31.2017 |
|
12.31.2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Itaú |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
10.215 |
% |
10.227 |
% |
9,767 |
|
31,700 |
|
41,467 |
|
110,732 |
|
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Santander |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
9.65 |
% |
9.47 |
% |
183,761 |
|
321,054 |
|
504,815 |
|
1,016,705 |
|
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Citibank |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
8.54 |
% |
8.52 |
% |
146,251 |
|
382,550 |
|
528,801 |
|
872,247 |
|
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Cogeração Light Esco |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
13.00 |
% |
12.28 |
% |
156,946 |
|
500,664 |
|
657,610 |
|
674,127 |
|
|
Embotelladora del Atlántico S.A. |
|
Argentina |
|
Foreign |
|
Tetra Pak SRL |
|
Argentina |
|
Dollars |
|
Monthly |
|
12.00 |
% |
12.00 |
% |
25,541 |
|
302,091 |
|
327,632 |
|
103,314 |
|
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Bradesco |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
9.39 |
% |
9.38 |
% |
— |
|
— |
|
— |
|
8,299 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,060,325 |
|
2,785,424 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
15.4.2Non-current liabilities for leasing agreements December 31, 2017
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maturity |
|
|
|
||||||||
|
Indebted Entity |
|
Creditor Entity |
|
|
|
Amortization |
|
Effective |
|
Nominal |
|
1 year to |
|
2 years to |
|
3 years to |
|
4 years to |
|
More |
|
at |
|
||||||
|
Name |
|
Country |
|
Tax ID |
|
Name |
|
type |
|
Currency |
|
Type |
|
rate |
|
Rate |
|
2 years |
|
3 years |
|
4 years |
|
5 years |
|
5 years |
|
12.31.2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Banco Itaú |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
10.21 |
% |
10.22 |
% |
11,764 |
|
— |
|
— |
|
— |
|
— |
|
11,764 |
|
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Banco Santander |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
9.65 |
% |
9.47 |
% |
73,799 |
|
— |
|
— |
|
— |
|
— |
|
73,799 |
|
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Banco Citibank |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
8.54 |
% |
8.52 |
% |
105,807 |
|
— |
|
— |
|
— |
|
— |
|
105,807 |
|
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Cogeração Light Esco |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
13.00 |
% |
12.28 |
% |
743.100 |
|
839,703 |
|
948,864 |
|
1,072,216 |
|
10,685,852 |
|
14,289,735 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,481,105 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15.4.3Non-current liabilities for leasing agreements December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
Maturity |
|
|
|
||||||||||||||||
|
Indebted Entity |
|
Creditor Entity |
|
|
|
Amortization |
|
Effective |
|
Nominal |
|
1 year to |
|
2 years to |
|
3 years to |
|
4 years to |
|
More |
|
at |
|
||||||||
|
Tax ID |
|
Name |
|
Country |
|
Tax, ID |
|
Name |
|
type |
|
Currency |
|
Type |
|
rate |
|
Rate |
|
2 years |
|
3 years |
|
4 years |
|
5 years |
|
5 years |
|
12.31.2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
ThCh$ |
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Cogeração Light Esco |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
13.00 |
% |
12.28 |
% |
2,476,445 |
|
2,234,004 |
|
2,138,183 |
|
2,138,183 |
|
7,535,257 |
|
16,522,072 |
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Santander |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
9.65 |
% |
9.47 |
% |
591,576 |
|
— |
|
— |
|
— |
|
— |
|
591,576 |
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Itaú |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
10.21 |
% |
10.22 |
% |
54,327 |
|
— |
|
— |
|
— |
|
— |
|
54,327 |
|
|
Foreign |
|
Rio de Janeiro Refrescos Ltda. |
|
Brazil |
|
Foreign |
|
Citibank |
|
Brazil |
|
Brazilian real |
|
Monthly |
|
8.54 |
% |
8.52 |
% |
624,937 |
|
— |
|
— |
|
— |
|
— |
|
624,937 |
|
|
Foreign |
|
Embotelladora del Atlántico S.A. |
|
Argentina |
|
Foreign |
|
Tetra Pak SRL |
|
Argentina |
|
Dollars |
|
Monthly |
|
12.00 |
% |
12.00 |
% |
356,794 |
|
— |
|
— |
|
— |
|
— |
|
356,794 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
18,149,706 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|