16) FINANCIAL LIABILITIES
As of December 31, 2016 and 2017 all the financial liabilities of the Company are classified as other financial liabilities at amortized cost, except for the derivative financial instruments and options for acquisitions of NCI that are classified as financial liability at fair value through profit or loss.
The payments schedule for other financial liabilities, trade and other payables and liabilities at December 31, 2016 and 2017, including estimated future interest payments, calculated based on interest rates and foreign exchange rates applicable as at December 31, 2016 and 2017 are as follow:
| 2016 | Thousands of U.S. dollars | ||||||||||||
| Maturity (years) | |||||||||||||
| 2017 | 2018 | 2019 | 2020 | 2021 | More than 5 years | Total | |||||||
| Senior Secured Notes | 22,128 | 22,128 | 22,128 | 333,192 | - | - | 399,576 | ||||||
| Brazilian bonds—Debentures | 42,188 | 78,593 | 90,081 | - | - | - | 210,862 | ||||||
| Finance leases | 2,010 | 1,079 | 491 | 56 | - | - | 3,636 | ||||||
| Bank borrowings | 27,537 | 25,785 | 24,215 | 1,948 | - | - | 79,485 | ||||||
| Trade and other payables | 206,483 | 618 | - | - | - | - | 207,101 | ||||||
| Total financial liabilities | 300,346 | 128,203 | 136,915 | 335,196 | - | - | 900,660 | ||||||
| 2017 | Thousands of U.S. dollars | ||||||||||||
| Maturity (years) | |||||||||||||
| 2018 | 2019 | 2020 | 2021 | 2022 | More than 5 years | Total | |||||||
| Senior Secured Notes | 24,500 | 24,500 | 24,500 | 24,500 | 424,500 | - | 522,500 | ||||||
| Brazilian bonds—Debentures | 5,943 | 5,566 | 5,276 | 4,901 | 4,458 | 2,026 | 28,170 | ||||||
| Finance leases | 5,128 | 4,261 | 1,907 | 887 | 442 | - | 12,625 | ||||||
| Bank borrowings | 30,994 | 24,225 | 4,373 | 558 | 438 | - | 60,588 | ||||||
| Trade and other payables | 208,532 | 8,094 | - | - | - | - | 216,626 | ||||||
| Total financial liabilities | 275,097 | 66,646 | 36,056 | 30,846 | 429,838 | 2,026 | 840,509 | ||||||