Globant S.A. | CIK:0001557860 | 3

  • Filed: 4/13/2018
  • Entity registrant name: Globant S.A. (CIK: 0001557860)
  • Generator: Workiva (WebFilings)
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1557860/000114420418020505/0001144204-18-020505-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1557860/000114420418020505/glob-20171231.xml
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    • ifrs-full:DisclosureOfDetailedInformationAboutBorrowingsExplanatory

     
     
    As of December 31,
     
     
    2017
     
    2016
     
     
     
     
     
    Current
     
     

     
     

    Bank and financial institutions (note 25)
     
    6,011

     
    217

    TOTAL
     
    6,011

     
    217

     
     
     
     
     
    The principal balances of outstanding borrowings under lines of credit with banks and financial institutions were as follows:
     
     
     
    As of December 31,
     
     
    2017
     
    2016
     
     
     
     
     
    HSBC Bank (Argentina)
     
    —

     
    38

    Banco Santander Rio (Argentina)
     
    4

     
    118

    HSBC Bank and Citibank - Syndicated loan (United States)
     
    6,007

     
    —

    Financial institution - Leasing (Uruguay)
     
    —

     
    61

    TOTAL
     
    6,011

     
    217

    Movements in borrowings are analyzed as follows:
     


     
     
    As of December 31,
     
     
    2017
     
    2016
     
    2015
     
     
     
     
     
     
     
    Balance at the beginning of year
     
    217

     
    548

     
    1,285

    Borrowings related to business combination (note 23)
     
    —

     
    250

     
    —

    Proceeds from new borrowings (1)
     
    22,000

     
    —

     
    —

    Payment of borrowings
     
    (16,293
    )
     
    (584
    )
     
    (613
    )
    Accrued interest
     
    95

     
    41

     
    108

    Foreign exchange
     
    (8
    )
     
    (38
    )
     
    (232
    )
    TOTAL
     
    6,011

     
    217

     
    548


     
    (1) The Company, through its Argentine subsidiary, Sistemas Globales S.A. and IAFH Global S.A., entered into 6 loan agreements with Santander Rio for a total amount of $16,000. These loans matured before December 31, 2017. On December 19, 2017, Globant LLC has borrowed $6,000 under the credit facility mentioned above. This loan matured on March 19, 2018 but was renewed until May 21, 2018.