Ternium S.A. | CIK:0001342874 | 3

  • Filed: 4/24/2018
  • Entity registrant name: Ternium S.A. (CIK: 0001342874)
  • Generator: Workiva (WebFilings)
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1342874/000134287418000009/0001342874-18-000009-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1342874/000134287418000009/tx-20171231.xml
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    • ifrs-full:DisclosureOfDetailedInformationAboutBorrowingsExplanatory

    The weighted average interest rates - which incorporate instruments denominated mainly in US dollars and Argentine pesos and which do not include the effect of derivative financial instruments nor the devaluation of these local currencies - at year-end were as follows:
     
    As of December 31,
     
    2017
     
    2016
     
     
     
     
    Bank borrowings
    4.76
    %
     
    6.92
    %
     
    As of December 31,
     
    2017
     
    2016
     
     
     
     
    (i) Non-current
     
     
     
     
     
     
     
    Bank borrowings
    1,724,454

     
    398,851

    Less: debt issue costs
    (8,117
    )
     
    (2,109
    )
     
     
     
     
     
    1,716,337

     
    396,742

     
     
     
     
    (ii) Current
     
     
     
     
     
     
     
    Bank borrowings
    1,510,820

     
    823,563

    Less: debt issue costs
    (5,250
    )
     
    (1,670
    )
     
     
     
     
     
    1,505,570

     
    821,893

     
     
     
     
    Total Borrowings
    3,221,907

     
    1,218,635

    Breakdown of borrowings by currency is as follows:
     
     
     
     
    As of December 31,
    Currencies
     
    Contract
     
    2017
     
    2016
     
     
     
     
     
     
     
    USD
     
    Floating
     
    2,061,106

     
    790,772

    USD
     
    Fixed
     
    791,158

     
    141,889

    ARS
     
    Floating
     
    2,377

     
    —

    ARS
     
    Fixed
     
    328,060

     
    234,576

    COP
     
    Floating
     
    11,793

     
    23,520

    COP
     
    Fixed
     
    18,500

     
    19,163

    GTQ
     
    Fixed
     
    8,913

     
    8,715

     
     
     
     
     
     
     
     
     
     
     
    3,221,907

     
    1,218,635

    Ternium’s most significant borrowings as of December 31, 2017, were those incurred under Ternium México’s syndicated loan facilities, in order to improve its maturity profile in 2013 and under Tenigal’s syndicated loan facility, in order to finance the construction of its hot-dipped galvanizing mill in Pesquería, Mexico, and under Ternium Investments S.à r.l., in order to finance the acquisition of Ternium Brasil:
     
     
     
     
     
     
    In USD million
     
     
    Date
     
    Borrower
     
    Type
     
    Original
    principal
    amount
     
    Outstanding principal amount as of December 31, 2017
     
    Maturity
     
     
     
     
     
     
     
     
     
     
     
    November 2013
     
    Ternium Mexico
     
    Syndicated loan
     
    800

     
    155

     
    November 2018
    Years 2012 and 2013
     
    Tenigal
     
    Syndicated loan
     
    200

     
    125

     
    July 2022
    September 2017
     
    Ternium Investments S.à r.l.
     
    Syndicated loan
     
    1,500

     
    1,500

     
    September 2022