Address:
52-54, Avenue du X Septembre
L-2550 Luxembourg
R.C.S. Luxembourg : B 151.433
Novus Capital Luxembourg S.A.
ANNUAL ACCOUNTS
AND REPORT OF THE RÉVISEUR D'ENTREPRISES AGRÉÉ
FOR THE YEAR ENDED
31 MARCH 2015
Novus Capital Luxembourg S.A.
Table of contents Page
1. Report of the Réviseur d'Entreprises Agréé 2
2. Management report 4
3. Responsibility statement 6
4. Balance sheet as at 31 March 2015 7
5. Profit and loss account for the year ended 31 March 2015 8
6. Notes to the annual accounts 9
Annex 1 - Balance sheet as at 31 December 2015 per compartment
Annex 2 - Profit and loss account for the year ended 31 March 2015 per compartment
Annex 3 - Note 3. Securities and other financial instruments held as fixed assets per compartmentAnnex 4 - Note 4. Other receivables, becoming due and payable within one year per compartment
Annex 5 - Note 7. Non convertible loans, becoming due and payable after more than one year per compartment Annex 6 - Note 8. Other creditors, becoming due and payable within one year per compartment
Annex 7 - Note 10. Interest and other financial charges per compartment
Annex 8 - Note 11. Income from financial fixed assets per compartment
Annex 9 - Note 12. Other interest and other financial income per compartment
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Deloitte. Deloitte Audit Société à responsabilité limitée
560, rue de Neudorf L-2220 Luxembourg B.P. 1173 L-lO 11 Luxembourg
Tel: +352 451 451 Fax: +352 451 452 992 www.deloitte.lu
To the Shareholders of Novus Capital Luxembourg S.A. 52-54, A venue du X Septembre L-2550 Luxembourg
REPORT OF THE RÉVISEUR D'ENTREPRISES AGRÉÉ
Following our appointment by the General Meeting of the Shareholders held on 31 July 2014 we have audited the accompanying annual accounts ofNovus Capital Luxembourg S.A. which comprise the Balance Sheet as at 31 March 2015 and the Profit and Loss account for the year then ended and a summary of significant accounting policies and notes to the annual accounts.
Responsibility of the Board of Directors for the annual accounts
The Board of Directors is responsible for the preparation and fair presentation of these annual accounts in accordance with Luxembourg legal and regulatory requirements relating to the preparation of the annual accounts and for such internal control as the Board of Directors determines is necessary to enable the preparation of annual accounts that are free from material misstatement, whether due to fraud or error.
Responsibility of the réviseur d'entreprises agréé
Our responsibility is to express an opinion on these annual accounts based on our audit. We conducted our audit in accordance with International Standards on Auditing as adopted for Luxembourg by the Commission de Surveillance du Secteur Financier.
Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the annual accounts are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the annual accounts. The procedures selected depend on the réviseur d'entreprises agréé 's judgement, including the assessment of the risks of material misstatement of the annual accounts, whether due to fraud or error.
In making those risk assessments, the réviseur d'entreprises agréé considers internal control relevant to the entity's preparation and fair presentation of the annual accounts in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control.
An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors, as well as evaluating the overall presentation of the annual accounts. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Société à responsabilité limitée au capital de 35.000 € RCS Luxembourg B 67.895 VAT LU25101535 Autorisation d'établissement 10022179
2
Deloitte.
Opinion
In our opinion, the annual accounts give a true and fair view of the financial position of Novus Capital Luxembourg S.A. as at 31 March 2015, and of the results of its operations for the year then ended in accordance with Luxembourg legal and regulatory requirements relating to the preparation of the annual accounts.
Report on other legal and regulatory requirements
The management report, which is the responsibility of the Board of Directors, is consistent with the annual accounts.
For Deloitte Audit, Cabinet de révision agréé
3
Novus Capital Luxembourg S.A.
2. MANAGEMENT REPORT
The Board of Directors of Novus Capital Luxembourg SA (the "Company") herewith submits its annual report and accounts of the Company for the year ended 31 March 2015.
General
The Company is a multicompartment securitisation company within the meaning of the law of 22 March 2004 on securitisation and has as its corporate purpose the securitisation of collateral bonds.
Summary of activities
In February 2011 the Company became a party to a programme agreement dated 26 June 2009, in which Novus Capital pic is initial issuer under the "Novus" Structured Issuance Programme (the "Programme") as defined in a Base Prospectus.
During the financial year ended 31 March 2015, the following series of Notes have been issued: Note Series Date Description 2014-(15) Compartment 07-May-2014 Series 2014-15 EUR 20,000,000 Interest Rate Asset Swap
Notes due 15 September 2035 (the "Series 2014-15") 2014-(16) Compartment 19-May-2014 Series 2014-16 EUR 20,000,000 Interest Rate Asset Swap
Notes due 15 September 2024 (the "Series 2014-16") 2014-(17) Compartment 08-Jul-2014 Series 2014-17 EUR 20,000,000 Interest Rate Asset Swap
Notes due 15 September 2024 (the "Series 2014-17") 2014-(18) Compartment 23-0ct-2014 Series 2014-18 EUR 20,000,000 Equity Linked Floating Rate
Notes due 15 September 2026 (the "Series 2014-18")
The net proceeds of each issue of Notes were used in acquiring initial collateral bonds and acquisition of each collateral bond is accounted for in a separate compartment. The Notes are backed by substantially all of the assets of the Company, consisting of the Company's right, title and interest in the collateral bonds. The Notes are direct, secured and limited recourse obligation of the Company, whereby the Company pays only those amounts, which are actually available to it, being essentially the amounts received from the collateral bonds and the amounts received or paid under the Swap Transactions.
During the financial year ended 31 March 2015, aside the above mentioned issuances, no additional series of Notes have been issued.
During the financial year ended 31 March 2015 the following redemptions of Notes have taken place: Note Series Date Description Series 2011-(05) 30-Sep-2014 Partial redemption of Series 2011-05 EUR 100,000,000 Interest Rate Asset
Swap Notes due 15 September 2017 with EUR 15,000,000
Acquisition of own shares
During the year ended 31 March 2015 the Company has not purchased any of its own shares.
Research and development activities
The Company was neither involved nor participated in any kind of research or development activities in the year ended 31 March 2015.
Branches of the Company
The Company does not have any branches.
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Novus Capital Luxembourg S.A.
2. MANAGEMENT REPORT
Board of Directors
At incorporation date Mrs P.J.S. Dunseiman, Mrs Z.H. Cam mans and Mr B.H. Hoftijzer were appointed as Directors of the Company. As at 31 March 2015, Mr Hoftijzer has resigned from his position as director of the Company. On 13 January 2016, the remaining Directors have co-opted Mrs C. Pirrié as new director of the Company.
Audit Committee
The Company does not enter into any operation other than those described in the Base Prospectus; it has delegated to the Corporate Services Provider, on 3 February 2010, the financial reporting process and the supervision of the statutory audit: therefore it considers not necessary to have either an audit committee or an administrative or supervisory body entrusted to carry out the functions of an audit committee.
Corporate Governance Declaration
Risk Management and Internal Control
The Board of Directors has overall responsibility for the Company's system of internal control and risk management, incident to the day-to-day control of the Company's business and the preparation of the annual accounts.
The Company has an embedded risk management and reporting process which ensures that risks are identified, assessed and mitigated at an executive level and reported to the Board of Directors. The results of risk management activities are consolidated and reviewed by the Board of Directors on an annual basis.
The system of internal controls is designed to manage the risk of failure to achieve business objectives and can only provide reasonable and not absolute assurance against material misstatement or loss.
The Company's systems of internal controls ensure key risks are managed through: - the management structure with delegated authority levels, segregation of duties, functional reporting lines and accountability; - authorisation processes for all capital expenditure, other purchases and expenses are subject to appropriate authorisation procedure - formal reporting to the Board of Directors on specific areas of financial and operational risk.
Subsequent events
The Company repurchased and cancelled all outstanding Notes in Compartments 2014 (12), 2014 (14) and 2014 (17) on 27 July 2015, in Compartment 2014 (15) on 16 December 2015 and in Compartment 2014 (16) on 18 December 2015.
No other matters or circumstances of importance have arisen since the end of the financial year which have significantly affected or may significantly affect the operations of the Company, the results of those operations or the affairs of the Company.
Future outlook
No material changes in activities are contemplated during the next financial year.
Mrs C Pirrié Director
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Novus Capital Luxembourg S.A.
4. BALANCE SHEET AS AT 31 MARCH 2015
Notes
EUR EUR EUR EUR
ASSETS
Fixed assets
Financial fixed assets
2, 3 422,970,000 357,970,000
Total fixed assets 422,970,000 357,970,000
Current assets
Debtors
Other receivables 2, 4
- becoming due and payable within one year 22,152,374 6,912,754
Cash at bank, cash in postal cheque accounts, cheques and cash in hand
5 16,139 17,587
Total current assets 22,168,513 6,930,341
Total (Assets) 445,138,513 364,900,341
LIABILITIES
6
31,000 31,000
(9,255) (8,453)
Capital and reserves
Subscribed capital
Profit or loss brought forward Profit or loss for the financial year (3,482) (802)
Total capital and reserves 18,263 21,745
Non subordinated debts Debenture loans
Non convertible loans 2, 7
- becoming due and payable after more than one year 425,970,000 360,970,000
Tax and social security debts 13
- Tax debts 2,675 535
Other creditors 2, 8
- becoming due and payable within one year 19,147,575 3,908,061
Total non subordinated debts 445,120,250 364,878,596
Total (Liabilities) 445,138,513 364,900,341
The notes in the annex form an integral part of the annual accounts.
31/03/2015 31/03/2014
Securities and other financial instruments held
as fixed assets
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Novus Capital Luxembourg S.A.
Notes
EUR EUR EUR EUR
9 272 3,000,267
CHARGES
Other external charges
Interest and other financial charges
10 32,543,075 25,457,897 - other interests and similar financial charges
Income tax 13 3,210 535
Total charges 32,546,557 28,458,699
11 13,789,342 9,180,871
INCOME
Income from financial fixed assets - other income from participating interests
Other interest and other financial income 12
18,753,733 19,277,026
3,482 802
Total income 32,546,557 28,458,699
The notes in the annex form an integral part of the annual accounts
5. PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2015
31/03/2015 31/03/2014
- other interest and similar financial income
Loss for the financial year
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Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Note 1 - General information
Note 2 - Summary of significant accounting principles
2.1 Basis of preparation
2.2 Significant accounting policies
2.2.1 Financial assets
2.2.2 Other debtors
The annual accounts have been prepared in accordance with Luxembourg legal and regulatory requirements.
The Company may only carry out the above activities if and to the extent that they are in accordance with the Securitisation Law.
Under the Securitisation Law, the assets, liabilities and obligations of the Company are separated into separate compartments.
The assets of each compartment are, by operation of the Law, only available to satisfy the liabilities and obligations of the Company
which are incurred in relation to that compartment.
Other debtors are recorded at their nominal value. They are subject to value adjustments where their recoverability is either uncertain
or compromised. These value adjustments are not continued if the reason for which the value adjustments were made has ceased to
apply.
The preparation of annual accounts requires the use of certain critical accounting estimates. It also requires the Management to
exercise their judgement in the process of applying the accounting policies. Changes in assumptions may have a significant impact on
the annual accounts in the year in which the assumptions changed. Management believes that the underlying assumptions are
appropriate and that the annual accounts therefore present the financial position and results fairly.
Novus Capital Luxembourg S.A. (hereafter the "Company") is a Luxembourg public limited company incorporated in Luxembourg on
26 January 2010 for an unlimited period under the legal form of "Société Anonyme " having its registered office at 52-54, Avenue du X
Septembre, L-2550 Luxembourg, Grand-Duchy of Luxembourg. The Company is registered at the Registre du Commerce et des
Sociétés of Luxembourg City under number B 151.433.
The purpose of the Company is the securitisation, within the meaning of the Luxembourg Law of 22 March 2004 on securitisation as
amended (hereinafter the "Securitisation Law"), of receivables arising from collateral bonds (the "Permitted Assets"). The Company
may enter into any agreement and perform any action necessary or useful for the purposes of securitising Permitted Assets, including,
without limitation, disposing of its assets in accordance with the relevant agreements.
The financial year of the Company begins 1 April and ends on 31 March, except for the first financial year which started on 26 January
2010, the date of incorporation, and ended on 31 March 2011.
The Company makes estimates and assumptions that affect the reported amounts of assets and liabilities in the next financial year.
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations
of future events that are believed to be reasonable under the circumstances.
The Company is classified as small company under the articles 35 and 47 of the Luxembourg Law of 19 December 2002 on Trade and
Companies Register, bookkeeping and annual accounts of companies as amended (the "Amended Law").
The main valuation rules applied by the Company are the following:
The Company is not included in consolidated accounts.
Accounting policies and valuation rules are, besides the ones laid down by the Amended Law, determined and applied by the Board of
Directors (the "Management"). The Company maintains its books and records in Euro (EUR).
Permitted Assets included in financial assets are recorded at their acquisition cost less any impairment in value, which, in the opinion
of the management, can be considered as permanent.
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Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Note 2 - Summary of significant accounting principles (continued)
2.2.3 Accruals and deferred income
2.2.4 Notes issued
2.2.5 Creditors
2.2.6 Interest receivable and payable
2.2.7 Off balance sheet commitments
Note 3 - Securities and other financial instruments held as fixed assets 31/03/2015 31/03/2014
Collateral Bonds EUR EUR
Opening balance as at 1 April 357,970,000 292,500,000
Acquisition during the year 80,000,000 75,470,000
Disposals during the year (15,000,000) (10,000,000)
Closing balance as at 31 March 422,970,000 357,970,000
Note Series Date ISIN Description Due Principal Purchase
Series 2014-15 07-May-14 IT0003745541 Italy 2.35% 15/09/2035 24,000,000 83.33%
Series 2014-16 19-May-14 IT0005004426 Italy 2.35% 15/09/2024 26,000,000 76.92%
Series 2014-17 08-Jul-14 IT0005004426 Italy 2.35% 15/09/2024 26,000,000 76.92%
Series 2014-18 23-Oct-14 IT0004735152 Italy 3.10% 15/09/2026 24,000,000 83.33%
As per the terms and conditions of Interest Rate Asset Swap agreements, all future cash flows arising from those Collateral Bonds (as
defined below) will be exchanged against all future cash flows in respect of the Notes. Accordingly any difference between Collateral
Bonds cost and their fair market value, when lower, is not considered as permanent and no impairment on the Collateral Bonds has
been recorded. Due to the nature of the swap, their fair value is included under Note 14 - Off balance sheet commitments rather than
accounted for in the balance sheet and profit and loss account.
This liability item includes income received during the financial year but relating to a subsequent financial year.
Interest receivable and payable are recorded on an accrual basis.
Where the amount repayable on any debt exceeds the amount received, the difference may be accounted for in the profit and loss
account when the debt is issued.
The net proceeds of the issued Notes (see also Note 7) were used in acquiring the following initial collateral bonds (the "Collateral
Bonds"). During financial year ended 31 March 2015 the following subscriptions of Collateral Bonds have taken place:
As per the terms and conditions of Interest Rate Asset Swap agreements ("IRAS"), all future cash flows arising from those Collateral
Bonds will be exchanged against all future cash flows in respect of the Notes (see also Note 14). Therefore the acquisition price of the
Collateral Bonds are recorded at par (100%) and deviate from the market value at the date of acquisition.
Notes issued are stated at par value less any repayments made to their principal.
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Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Market Value Market Value
ISIN 31/03/2015 31/03/2014
IT0004545890 148.45% 96.88%
IT0004085210 107.37% 105.68%
IT0004735152 134.06% 108.41%
IT0004604671 115.56% 103.40%
IT0004243512 123.39% 104.90%
IT0004532559 158.69% 112.88%
IT0004380546 112.85% 107.17%
IT0003745541 143.56% n/a
IT0005004426 122.25% n/a
31/03/2015 31/03/2015 31/03/2014 31/03/2014
Series 2011-01 882,521 39,446 882,797 39,209
Series 2011-02 496,418 22,188 496,573 22,055
Series 2011-03 864,469 45,401 712,046 45,215
Series 2011-04 1,211,060 61,156 1,022,162 63,593
Series 2011-05 2,678,235 110,764 2,916,330 129,527
Series 2011-06 2,003,563 89,554 2,004,193 89,015
Series 2011-07 146,644 6,555 146,690 6,515
Series 2012-08 425,163 19,004 425,298 18,889
Series 2012-10 - - 147,641 -
Series 2012-11 152,379 6,811 152,427 6,770
Series 2014-12 1,571,226 69,535 178,963 69,839
Series 2014-13 258,953 11,574 23,729 11,505
Series 2014-14 785,977 35,131 72,022 34,920
Series 2014-15 700,964 29,998 n/a n/a
Series 2014-16 638,376 27,320 n/a n/a
Series 2014-17 638,376 27,320 n/a n/a
Series 2014-18 335,018 35,105 n/a n/a
Note Series Date ISIN Description Principal
Redemption
Price
Series 2011-05 30-Sep-14 IT0004085210 18,000,000 83.33%
As per the above-mentioned terms and conditions of the IRAS the difference between collateral bond cost and their fair market value,
when lower, is not considered as permanent and no impairment on the Collateral Bonds has been recorded.
Italy 2.55% (indexed) 15.09.2041
Italy 2.10% (indexed) 15.09.2021
Italy 3.10% (indexed) 15.09.2029
Italy 2.10% (indexed) 15.09.2021
Italy 5.00% (indexed) 01.09.2040
Series 2012-11, 12 and 14
Note Series
Accrued
Interest
Interest
Income
Interest
IncomeCollateral Bonds
Interest income for the year ended 31 March 2015 and accrued interest as at 31 March 2015 were the following (see Notes 4 and 11):
Italy 2.35% (indexed) 15.09.2035
Italy 2.35% (indexed) 15.09.2014
Italy 2.35% (indexed) 15.09.2014
Italy 3.10% (indexed) 15.09.2029
Italy 2.10% (indexed)
During financial year ended 31 March 2015, due to repurchase of related notes the following redemptions of Bonds have taken place:
In the event of default of the Italian Republic the following set of actions will occur:
- the Issuer will notify the holder of the Serie, and procure that the IRAS counterparty, Nomura International plc disposes of the
collateral assets,
- upon receipt of the net proceeds of liquidation of the Collateral Bonds the noteholder will be notified, and notes will be subject to early
redemption at early redemption amount (the lesser of (i) the amount available for distribution after payment of all prior ranking
amounts and (ii) the redemption amount of the note).
Accrued
Interest
Italy 2.60% (indexed) 15.09.2023
Series 2011-07
Related Notes
Series 2014-15
Series 2014-16 and 17
Series 2011-03 and 04
Series 2011-06 and 2014-18
Italy 2.35% (indexed) 15.09.2035
Series 2012-13
Italy 2.60% (indexed) 15.09.2023
Italy 2.35% (indexed) 15.09.2019
Italy 2.60% (indexed) 15.09.2023
Italy 2.60% (indexed) 15.09.2023
Italy 2.60% (indexed) 15.09.2023
Series 2011-01 to 2011-04
Series 2011-05 and 2012-08
Italy 2.35% (indexed) 15.09.2014
Note 3 - Securities and other financial instruments held as fixed assets (continued)
The market value of the Collateral Bonds as at 31 March 2015 was as follows:
Italy 2.55% (indexed) 15.09.2041
Italy 2.55% (indexed) 15.09.2041
Italy 2.55% (indexed) 15.09.2041
Italy 3.10% (indexed) 15.09.2026
Italy 2.55% (indexed) 15.09.2041
Italy 2.10% (indexed) 15.09.2017
Italy 2.10% (indexed) 15.09.2017
Italy 2.60% (indexed) 15.09.2023
Italy 2.10% (indexed) 15.09.2017
Collateral Bonds
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Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
31/03/2015 31/03/2014
Note 4 - Other receivables, becoming due and payable within one year
EUR EUR
Additional collateral 13,435,000 -
Accrued Interest on Collateral Bond 636,862 537,052
Accrued Interest Income on Swap Transaction 5,075,713 3,371,009
Other receivables 3,004,799 3,004,693
Total 22,152,374 6,912,754
Related Notes Description ISIN Due Principal Posted on Returned on
Series 2011-05 Italy 2.60% indexed IT0004243512 15/09/2023 2,000,000 21-Oct-14 24-Jul-15
Series 2011-05 Italy 5.75% indexed IT0003256820 01/02/2033 1,300,000 21-Oct-14 20-Apr-15
Series 2011-05 Italy 3.10% indexed IT0004735152 15/09/2026 2,135,000 12-Dec-14 n/a
Series 2012-12 Italy 3.10% indexed IT0004735152 15/09/2026 5,000,000 26-Jan-15 20-Jul-15
Series 2014-16 Italy 3.10% indexed IT0004735152 15/09/2026 3,000,000 26-Jan-15 n/a
The other receivables largely consist of the following:
Note 5 - Cash at bank, cash in postal cheque accounts, cheques and cash in hand 31/03/2015 31/03/2014
EUR EUR
Cash current account 16,139 17,587
Total 16,139 17,587
Note 6 - Capital and reserves
Subscribed capital
The changes in capital and reserves during the year can be explained as follow:
Balance as at 1 April 31,000 (8,453) (802) 21,745
Allocation of previous year's result - (802) 802 -
Result of the year - - (3,482) (3,482)
Balance as at 31 March 31,000 (9,255) (3,482) 18,263
Legal reserve
Result for the
financial year Total
- receivables from Swap Counterparty amounting to EUR 2,000,000 and EUR 1,000,000 for Cp. 2014-(12) and Cp. 2014-(14)
respectively. This corresponds to the Dealers’ commission of 5% of the issue price of the mentioned notes (one-off fee) which,
pursuant to the Swap terms and conditions, will be received by the Company at the Maturity/Repurchase date (see also Note 9).
Subscribed
Capital
Results
brought forward
As of 31 March 2015, the subscribed capital amounts to EUR 31,000 and is divided into 3,100 shares fully paid-up with a par value of
EUR 10 each. The authorised capital amounts to EUR 31,000.
Under Luxembourg law, a minimum of 5% of the net profit of the year must be allocated to a legal reserve until such reserve equals
10% of the subscribed capital. This reserve is not available for dividend distribution.
- Additional collaterals have been temporary received (and in some cases returned) from the swap counterparty in relation to IRAS fair
value exposure on the following notes:
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Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Note 7 - Non convertible loans, becoming due and payable after more than one year 31/03/2015 31/03/2014
As at 31 March 2015 the amount contains the following: EUR EUR
Series 2011-01 Interest Rate Asset Swap Notes 32,000,000 32,000,000
Series 2011-02 Interest Rate Asset Swap Notes 18,000,000 18,000,000
Series 2011-03 Interest Rate Asset Swap Notes 28,500,000 28,500,000
Series 2011-04 Interest Rate Asset Swap Notes 39,970,000 39,970,000
Series 2011-05 Interest Rate Asset Swap Notes 85,000,000 100,000,000
Series 2011-06 Interest Rate Asset Swap Notes 45,000,000 45,000,000
Series 2011-07 Interest Rate Asset Swap Notes 5,000,000 5,000,000
Series 2012-08 Interest Rate Asset Swap Notes 17,500,000 17,500,000
Series 2012-11 Fixed Rate Notes 5,000,000 5,000,000
Series 2014-12 Fixed Rate Notes 40,000,000 40,000,000
Series 2014-13 Floating Rate Notes 10,000,000 10,000,000
Series 2014-14 Equity Linked Fixed Rate Notes 20,000,000 20,000,000
Series 2014-15 Index Linked Fixed Rate Notes 20,000,000 -
Series 2014-16 Strategy Linked Fixed Rate Notes 20,000,000 -
Series 2014-17 Strategy Linked Fixed Rate Notes 20,000,000 -
Series 2014-18 Equity Linked Floating Rate Notes 20,000,000 -
Total 425,970,000 360,970,000
Movements during the financial year are as follows: 31/03/2015 31/03/2014
All Series EUR EUR
Balance as at 1 April 360,970,000 295,000,000
Issues during the year 80,000,000 75,970,000
Redemptions during the year (15,000,000) (10,000,000)
Balance as at 31 March 425,970,000 360,970,000
Series 2011-01 Interest Rate Asset Swap Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April 32,000,000 32,000,000
Issues during the year - -
Redemptions during the year - -
Balance as at 31 March 32,000,000 32,000,000
No redemption on the principal is scheduled within one year.
All payments of interest on and principal of Series 2011-01 Notes will be due and payable on 15 September 2041, the Final Maturity
Date.
Interest payable on Series 2011-01 amounted to EUR 31,971 as at 31 March 2015 (EUR 32,867 as at 31 March 2014, see also Note
8).
On 25 February 2011 the Company issued the Series 2011-01 Interest Rate Asset Swap Notes for a principal amount of EUR
32,000,000. As at 31 March 2015 Series 2011-01 has not been subject to any redemption on the principal.
Series 2011-01 bears a fixed interest rate of 5.40% on the principal amount from 25 February 2011 up to 15 September 2012, then a
floating rate interest of six-month Euribor + 2.06% from 15 September 2012 up to the final maturity date. Rate applied on Top Up
Amount corresponds to EUR EONIA. Payments on Series 2011-01 are made as at 15 March and 15 September in each year from 15
September 2011 up to the final maturity date.
The interest income on Series 2011-01 has been swapped to an indexed fixed rate of 2.55% interest (see also Note 14).
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Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Note 7 - Non convertible loans, becoming due and payable after more than one year (continued)
Series 2011-02 Interest Rate Asset Swap Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April 18,000,000 18,000,000
Issues during the year - -
Redemptions during the year - -
Balance as at 31 March 18,000,000 18,000,000
Series 2011-03 Interest Rate Asset Swap Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April 28,500,000 27,500,000
Issues during the year - 1,000,000
Redemptions during the year - -
Balance as at 31 March 28,500,000 28,500,000
On 25 February 2011 the Company issued the Series 2011-02 Interest Rate Asset Swap Notes for a principal amount of EUR
18,000,000. As at 31 March 2015 Series 2011-02 has not been subject to any redemption on the principal.
Series 2011-02 bears a fixed interest rate of 5.40% on the principal amount from 25 February 2011 up to 15 September 2012, then a
floating rate interest of six-month Euribor + 2.06% from 15 September 2012 up to the final maturity date. Rate applied on Top Up
Amount corresponds to EUR EONIA. Payments on Series 2011-02 are made as at 15 March and 15 September in each year from 15
September 2011 up to the final maturity date.
On 5 July 2011 the Company issued the Series 2011-03 Interest Rate Asset Swap Notes for a principal amount of EUR 25,000,000.
On 7 June 2012 and 18 September 2013 the Company issued an additional Series 2011-03 Interest Rate Asset Swap Notes for a total
amount of EUR 3,500,000.
As at 31 March 2015 Series 2011-03 has not been subject to any redemption on the principal.
Series 2011-03 bears a floating interest rate of six-month Euribor on the principal amount + 2.25% from 5 July 2011 to, but excluding,
15 September 2013 and a floating interest rate of six-month Euribor on the principal amount + 1.50% from, and including 15
September 2013 up to the final maturity date. Payments on Series 2011-03 are made as at 15 March and 15 September in each year
from 15 September 2011 up to the final maturity date.
All payments of interest on and principal of Series 2011-03 Notes will be due and payable on 15 September 2041, the Final Maturity
Date.
No redemption on the principal is scheduled within one year. Top Up Amount is planned to be redeemed upon end of MTM Trigger
Event.
Interest payable on Series 2011-03 amounted to EUR 20,241 as at 31 March 2015 (EUR 22,623 as at 31 March 2014, see also Note
8).
The interest income on Series 2011-02 has been swapped to an indexed fixed rate of 2.55% interest (see also Note 14).
The interest income on Series 2011-03 has been swapped to an indexed fixed rate of 2.55% (EUR 25,000,000) and 5.00% (EUR
3,500,000) interest (see also Note 14).
No redemption on the principal is scheduled within one year.
Interest payable on Series 2011-02 amounted to EUR 17,264 as at 31 March 2015 (EUR 17,255 as at 31 March 2014, see also Note
8).
All payments of interest on and principal of Series 2011-02 Notes will be due and payable on 15 September 2041, the Final Maturity
Date.
- 14 -
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Note 7 - Non convertible loans, becoming due and payable after more than one year (continued)
Series 2011-04 Interest Rate Asset Swap Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April 39,970,000 35,000,000
Issues during the year - 4,970,000
Redemptions during the year - -
Balance as at 31 March 39,970,000 39,970,000
Series 2011-05 Interest Rate Asset Swap Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April 100,000,000 100,000,000
Issues during the year - -
Redemptions during the year (15,000,000) -
Balance as at 31 March 85,000,000 100,000,000
Interest payable on Series 2011-05 amounted to EUR 272,901 as at 31 March 2015 (EUR 326,380 as at 31 March 2014, see also
Note 8).
All payments of interest on and principal of Series 2011-04 Notes will be due and payable on 15 September 2041, the Final Maturity
Date.
No redemption on the principal is scheduled within one year.
On 26 October 2011 the Company issued the Series 2011-05 Interest Rate Asset Swap Notes for a principal amount of EUR
100,000,000.
The initial fixed interest rate was set at 6.10%. On 22 December 2011 the terms and conditions of the Series were amended and
interest was raised to 6.95%. The counterparty for this interest rate increase consists in the transfer to the Company of an additional
collateral in the principal amount of EUR 20,000,000 without any additional issuance of notes.
Since this amendment Series 2011-05 bears a fixed interest rate of 6,95% from 26 October 2011 up to the final maturity date.
Payments on Series 2011-05 are made as at 15 March and 15 September in each year from 15 March 2012 up to the final maturity
date.
All payments of interest on and principal of Series 2011-05 Notes will be due and payable on 15 September 2017, the Final Maturity
Date.
The interest income on Series 2011-05 has been swapped to an indexed fixed rate of 2.10% interest (see also Note 14).
On 27 July 2011 the Company issued the Series 2011-04 Interest Rate Asset Swap Notes for a principal amount of EUR 35,000,000.
On 24 October 2013 the Company issued additional Series 2011-04 Interest Rate Asset Swap Notes for a principal amount of EUR
4,970,000. As at 31 March 2015 Series 2011-04 has not been subject to any redemption on the principal.
Series 2011-04 bears a floating interest rate of six-month Euribor on the principal amount + 2.6325% from 27 July 2011 to, but
excluding, 15 September 2013, and a floating interest rate of six-month Euribor on the principal amount + 2.25% from 15 September
2013 up to the final maturity date. Payments on Series 2011-04 are made as at 15 March and 15 September in each year from 15
September 2011 up to the final maturity date.
The interest income on Series 2011-04 has been swapped to an indexed fixed rate of 2.55% (EUR 35,000,000) and 5.00% (EUR
4,970,000) interest (see also Note 14).
Interest payable on Series 2011-04 amounted to EUR 41,713 as at 31 March 2015 (EUR 44,219 as at 31 March 2014, see also Note
8).
During the year, the Company redeemed EUR 15,000,000 on the outstanding Notes principal. No redemption on the principal is
scheduled within one year.
- 15 -
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Note 7 - Non convertible loans, becoming due and payable after more than one year (continued)
Series 2011-06 Interest Rate Asset Swap Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April 45,000,000 45,000,000
Issues during the year - -
Redemptions during the year - -
Balance as at 31 March 45,000,000 45,000,000
Series 2011-07 Interest Rate Asset Swap Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April 5,000,000 5,000,000
Issues during the year - -
Redemptions during the year - -
Balance as at 31 March 5,000,000 5,000,000
Series 2012-08 Interest Rate Asset Swap Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April 17,500,000 17,500,000
Issues during the year - -
Redemptions during the year - -
Balance as at 31 March 17,500,000 17,500,000
On 19 March 2012 the Company issued the Series 2012-08 Interest Rate Asset Swap Notes for a principal amount of EUR
17,500,000. As at 31 March 2015 Series 2012-08 has not been subject to any redemption on the principal.
On 2 December 2011 the Company issued the Series 2011-06 Interest Rate Asset Swap Notes for a principal amount of EUR
45,000,000. As at 31 March 2015 Series 2011-06 has not been subject to any redemption on the principal.
Series 2011-06 bears a fixed interest rate of 9,55% from 2 December 2011 up to the final maturity date. Payments on Series 2011-06
are made as at 15 September in each year from 15 September 2012 up to the final maturity date.
All payments of interest on and principal of Series 2011-06 Notes will be due and payable on 15 September 2026, the Final Maturity
Date.
No redemption on the principal is scheduled within one year.
The interest income on Series 2011-06 has been swapped to an indexed fixed rate of 3.10% interest (see also Note 14).
On 22 December 2011 the Company issued the Series 2011-07 Interest Rate Asset Swap Notes for a principal amount of EUR
5,000,000. As at 31 March 2015 Series 2011-07 has not been subject to any redemption on the principal.
Series 2011-07 bears a one-time interest rate of 7.50% on the principal payable on 22 December 2011 and a fixed interest rate of
7.20% from 22 December 2011 up to the final maturity date. Payments on Series 2011-07 are made as at 15 September in each year
from 15 September 2012 up to the final maturity date.
All payments of interest on and principal of Series 2011-07 Notes will be due and payable on 15 September 2021, the Final Maturity
Date.
No redemption on the principal is scheduled within one year.
The interest income on Series 2011-07 has been swapped to an indexed fixed rate of 2.10% interest (see also Note 14).
Interest payable on Series 2011-07 amounted to EUR 195,288 as at 31 March 2015 (EUR 195,288 as at 31 March 2014, see also
Note 8).
Interest payable on Series 2011-06 amounted to EUR 2,331,247 as at 31 March 2015 (EUR 2,331,247 as at 31 March 2014, see also
Note 8).
- 16 -
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Note 7 - Non convertible loans, becoming due and payable after more than one year (continued)
Series 2012-08 Interest Rate Asset Swap Notes
Series 2012-10 Fixed Rate Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April - 10,000,000
Issues during the year - -
Redemptions during the year - (10,000,000)
Balance as at 31 March - -
Series 2012-11 Fixed Rate Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April 5,000,000 5,000,000
Issues during the year - -
Redemptions during the year - -
Balance as at 31 March 5,000,000 5,000,000
The interest income on Series 2012-11 has been swapped to an indexed fixed rate of 2.60% interest (see also Note 14).
The interest income on Series 2012-10 has been swapped to an indexed fixed rate of 2.60% interest (see also Note 14).
On 13 March 2014 the Company fully redeemed the Series 2012-10 Interest Rate Asset Swap Notes.
On 7 September 2012 the Company issued the Series 2012-10 Interest Rate Asset Swap Notes for a principal amount of EUR
10,000,000.
Series 2012-10 bears a fixed interest rate of 15.00% (not proratised) from and including the Issue Date to, but excluding, 15
September 2012 and 6.10% (pro rata) from, and including, 15 September 2012 to 15 September 2023. Payments on Series 2012-10
are made on as at 15 September in each year from and including 15 September 2012 up to the final maturity date.
All payments of interest on and principal of Series 2012-11 Notes will be due and payable on 15 September 2023, the Final Maturity
Date.
No redemption on the principal is scheduled within one year.
Interest payable on Series 2012-08 amounted to EUR 43,006 as at 31 March 2015 (EUR 39,891 as at 31 March 2014, see also Note
8).
No redemption on the principal is scheduled within one year.
On 26 September 2012 the Company issued the Series 2012-11 Interest Rate Asset Swap Notes for a principal amount of EUR
5,000,000. As at 31 March 2015 Series 2012-11 has not been subject to any redemption on the principal.
Series 2012-11 bears a fixed interest rate of 15.00% (not proratised) from and including the Issue Date to, but excluding, 28
September 2012 and 5.45% (pro rata) from, and including, 28 September 2012 to 15 September 2023. Payments on Series 2012-11
are made on 28 September 2012, and thereafter as at 15 September in each year from and including 15 September 2013 up to the
final maturity date.
All payments of interest on and principal of Series 2012-08 Notes will be due and payable on 19 March 2018, the Final Maturity Date.
Interest payable on Series 2012-11 amounted to EUR 149,118 as at 31 March 2015 (EUR 149,118 as at 31 March 2014, see also
Note 8).
The interest income on Series 2012-08 has been swapped to an indexed fixed rate of 2.10% interest (see also Note 14).
Series 2012-08 bears a fixed interest rate of 5.40% from 19 March 2012 to 19 March 2013, 5.90% from 19 March 2013 to 19 March
2014, 6.40% from 19 March 2014 to 19 March 2015, 6.90% from 19 March 2015 to 19 March 2016, 8.40% from 19 March 2016 to 19
March 2017 and 10.40% from 19 March 2017 up to the final maturity date. Payments on Series 2012-08 are made as at 19 March in
each year from 19 March 2013 up to the final maturity date.
- 17 -
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Note 7 - Non convertible loans, becoming due and payable after more than one year (continued)
Series 2014-12 Fixed Rate Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April 40,000,000 -
Issues during the year - 40,000,000
Redemptions during the year - -
Balance as at 31 March 40,000,000 40,000,000
Series 2014-13 Floating Rate Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April 10,000,000 -
Issues during the year - 10,000,000
Redemptions during the year - -
Balance as at 31 March 10,000,000 10,000,000
On 20 February 2014 the Company issued the Series 2014-12 Interest Rate Asset Swap Notes for a principal amount of EUR
40,000,000. As at 31 March 2015 Series 2014-12 has not been subject to any redemption on the principal.
Series 2014-12 bears a fixed interest rate as follows:
a) 3.15% p.a. in the interest period ending on the interest payment date scheduled to fall on 15 September 2014;
b) 3.45% p.a in the interest period ending on the interest payment date scheduled to fall on 15 September 2015;
c) 3.75% p.a in the interest period ending on the interest payment date scheduled to fall on 15 September 2016;
d) 4.05% p.a in the interest period ending on the interest payment date scheduled to fall on 15 September 2017;
e) 4.35% p.a in the interest period ending on the interest payment date scheduled to fall on 15 September 2018;
f) 4.65% p.a in the interest period ending on the interest payment date scheduled to fall on 15 September 2019;
g) 4.95% p.a in the interest period ending on the interest payment date scheduled to fall on 15 September 2020;
h) 5.25% p.a in the interest period ending on the interest payment date scheduled to fall on 15 September 2021;
i) 5.55% p.a in the interest period ending on the interest payment date scheduled to fall on 15 September 2022;
j) 5.85 p.a in the interest period ending on the interest payment date scheduled to fall on the final maturity date.
Payments on Series 2014-12 are made as at 15 September in each year from, and including, 15 September 2014 up to, and including,
the final maturity date.
On 25 February 2014 the Company issued the Series 2014-13 Interest Rate Asset Swap Notes for a principal amount of EUR
10,000,000. As at 31 March 2015 Series 2014-13 has not been subject to any redemption on the principal.
Series 2014-13 bears a floating interest rate of six-month Euribor on the principal amount + 2.00% per annum from 25 February 2014
up to the final maturity date. Payments on Series 2011-04 are made as at 15 March and 15 September in each year from, and
including, the Issue Date, to but excluding, 15 March 2014 and from 15 September 2014 up to the final maturity date.
All payments of interest on and principal of Series 2014-13 Notes will be due and payable on 15 September 2019, the Final Maturity
Date.
No redemption on the principal is scheduled within one year.
The interest income on Series 2014-13 has been swapped to an indexed fixed rate of 2.35% interest (see also Note 14).
All payments of interest on and principal of Series 2014-12 Notes will be due and payable on 15 September 2023, the Final Maturity
Date.
Interest payable on Series 2014-12 amounted to EUR 755,168 as at 31 March 2015 (EUR 143,500 as at 31 March 2014, see also
Note 8).
Interest payable on Series 2014-13 amounted to EUR 9,316 as at 31 March 2015 (EUR 10,021 as at 31 March 2014, see also Note 8).
On 27 July 2015 the Company fully repurchased and cancelled the Series 2014-12 Notes.
The interest income on Series 2014-12 has been swapped to an indexed fixed rate of 2.60% interest (see also Note 14).
- 18 -
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Note 7 - Non convertible loans, becoming due and payable after more than one year (continued)
Series 2014-14 Equity Linked Fixed Rate Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April 20,000,000 -
Issues during the year - 20,000,000
Redemptions during the year - -
Balance as at 31 March 20,000,000 20,000,000
Series 2014-15 Index Linked Fixed Rate Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April - -
Issues during the year 20,000,000 -
Redemptions during the year - -
Balance as at 31 March 20,000,000 -
Series 2014-16 Strategy Linked Fixed Rate Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April - -
Issues during the year 20,000,000 -
Redemptions during the year - -
Balance as at 31 March 20,000,000 -
Series 2014-16 bears a fixed interest rate of 3.00% per annum from and including the Issue Date up to the final maturity date.
Payments on Series 2014-16 are made as at 15 September in each year from 15 September 2014 up to the final maturity date.
On 25 February 2014 the Company issued the Series 2014-14 Interest Rate Asset Swap Notes for a principal amount of EUR
20,000,000. As at 31 March 2015 Series 2014-14 has not been subject to any redemption on the principal.
Series 2014-14 bears a fixed interest rate of 2.93% per annum from and including the Issue Date up to the final maturity date.
Payments on Series 2014-14 are made on as at 15 September in each year from 15 September 2014 up to the final maturity date.
All payments of interest on and principal of Series 2014-14 Notes will be due and payable on 15 September 2023, the Final Maturity
Date.
On 27 July 2015 the Company fully repurchased and cancelled the Series 2014-14 Notes.
The interest income on Series 2014-14 has been swapped to an indexed fixed rate of 2.60% interest (see also Note 14).
On 7 May 2014 the Company issued the Series 2014-15 Index Linked Fixed Rate Notes for a principal amount of EUR 20,000,000. As
at 31 March 2015 Series 2014-15 has not been subject to any redemption on the principal.
All payments of interest on and principal of Series 2014-15 Notes will be due and payable on 15 September 2035, the Final Maturity
Date.
No redemption on the principal is scheduled within one year.
The interest income on Series 2014-15 has been swapped to an indexed fixed rate of 2.35% interest (see also Note 14).
On 19 May 2014 the Company issued the Series 2014-16 Strategy Linked Fixed Rate Notes for a principal amount of EUR
20,000,000. As at 31 March 2015 Series 2014-16 has not been subject to any redemption on the principal.
Interest payable on Series 2014-15 amounted to EUR 326,666 as at 31 March 2015 (see also Note 8).
Series 2014-15 bears a fixed interest rate of 3.00% per annum from and including the Issue Date up to the final maturity date.
Payments on Series 2014-15 are made as at 15 September in each year from 15 September 2014 up to the final maturity date.
Interest payable on Series 2014-14 amounted to EUR 320,672 as at 31 March 2015 (EUR 58,600 as at 31 March 2014, see also Note
8).
- 19 -
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Note 7 - Non convertible loans, becoming due and payable after more than one year (continued)
Series 2014-17 Strategy Linked Fixed Rate Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April - -
Issues during the year 20,000,000 -
Redemptions during the year - -
Balance as at 31 March 20,000,000 -
Series 2014-18 Equity Linked Floating Rate Notes 31/03/2015 31/03/2014
EUR EUR
Balance as at 1 April - -
Issues during the year 20,000,000 -
Redemptions during the year - -
Balance as at 31 March 20,000,000 -
Interest payable on Series 2014-18 amounted to EUR 7,352 as at 31 March 2015 (see also Note 8).
On 8 July 2014 the Company issued the Series 2014-17 Strategy Linked Fixed Rate Notes for a principal amount of EUR 20,000,000.
As at 31 March 2015 Series 2014-17 has not been subject to any redemption on the principal.
Series 2014-17 bears a fixed interest rate of 2.06% per annum from and including the Issue Date up to the final maturity date.
Payments on Series 2014-17 are made as at 15 September in each year from 15 September 2014 up to the final maturity date.
On 27 July 2015 the Company fully repurchased and cancelled the Series 2014-17 Notes.
Series 2014-16 Strategy Linked Fixed Rate Notes
The interest income on Series 2014-16 has been swapped to an indexed fixed rate of 2.35% interest (see also Note 14).
Interest payable on Series 2014-16 amounted to EUR 328,334 as at 31 March 2015 (see also Note 8).
All payments of interest on and principal of Series 2014-14 Notes will be due and payable on 15 September 2024, the Final Maturity
Date.
On 29 October 2014 the Company issued the Series 2014-18 Equity Linked Floating Rate Notes for a principal amount of EUR
20,000,000. As at 31 March 2015 Series 2014-18 has not been subject to any redemption on the principal.
Series 2014-18 bears a floating interest rate of 3m Euribor + 0.80% per annum from and including the Issue Date up to the final
maturity date. Payments on Series 2014-18 are made as at 15 March, 15 June, 15 September and 15 December in each year from 15
December 2014 up to the final maturity date.
All payments of interest on and principal of Series 2014-16 Notes will be due and payable on 15 September 2024, the Final Maturity
Date.
No redemption on the principal is scheduled within one year.
All payments of interest on and principal of Series 2014-18 Notes will be due and payable on 15 September 2026, the Final Maturity
Date.
No redemption on the principal is scheduled within one year.
The interest income on Series 2014-17 has been swapped to an indexed fixed rate of 2.35% interest (see also Note 14).
Interest payable on Series 2014-17 amounted to EUR 225,456 as at 31 March 2015 (see also Note 8).
The interest income on Series 2014-18 has been swapped to an indexed fixed rate of 3.10% interest (see also Note 14).
- 20 -
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Note 8 - Other creditors, becoming due and payable within one year 31/03/2015 31/03/2014
As at 31 March 2014 the amount can be analysed as following: EUR EUR
Accrued Interest on Notes 5,075,713 3,371,009
Accrued Interest on Swap transactions 636,862 537,052
Overcollateralisation reserve (see Note 4) 13,435,000 -
Total 19,147,575 3,908,061
Note 9 - Other external charges 31/03/2015 31/03/2014
As at 31 March 2015 the other external charges are as following: EUR EUR
Dealers’ commission* - 3,000,000
Bank charges 272 267
Total 272 3,000,267
Note 10 - Interest and other financial charges 31/03/2015 31/03/2014
As at 31 March 2015 the amount can be analysed as following: EUR EUR
Interest charges on Notes 18,753,733 16,277,026
Interest charges on Swap transactions 13,789,342 9,180,871
Total 32,543,075 25,457,897
31/03/2015 31/03/2014
- other income from participating interests EUR EUR
Interest income from Collateral Bonds 13,789,342 9,180,871
Total 13,789,342 9,180,871
31/03/2015 31/03/2014
- other interest and similar financial income EUR EUR
Interest receivable on Swap transactions 18,753,733 19,277,026
Other financial income - -
Total 18,753,733 19,277,026
Note 13 - Taxes
Note 12 - Other interest and other financial income
Note 11 - Income from financial fixed assets
The Company is subject to all taxes applicable to commercial companies in Luxembourg incorporated under the Securitisation Law.
The other external charges are not related to compartments. The Company bears the expenses related to its incorporation and to the
first approval by the CSSF. It has been agreed that all subsequent operating expenses will be borne by the Arranger. The Company
only includes in its result the charges related to the administration of its capital account.
* Dealers’ commission amounts to 5% of the issue price of the notes (one-off fee) and only applies to Cp. 2014-(12) and Cp. 2014-
(14). The amount of the commision is EUR 2,000,000 and EUR 1,000,000 for Cp. 2014-(12) and Cp. 2014-(14) respectively.
- 21 -
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Note 14 - Off balance sheet commitments
Note Series
Series 2011-01
(Top Up)
Series 2011-02
(Top Up)
Series 2011-03
Series 2011-04
Series 2011-05
as amended
Series 2011-06
additional principal amount of EUR 3,500,000
Top Up Amount as applicable Top Up Amount as applicable
indexed fixed rate of 2.55%
from 15/03/2011 to 15/09/2041
as from initial transaction date of 26/10/2011
as from restructuring date of 22/12/2011
principal amount of EUR 100,000,000
initial principal amount of EUR 100,000,000
indexed fixed rate of 2.55%
from 15/03/2011 to 15/09/2041
floating rate of EUR Eonia on Top Up Amount
fixed rate of 9.55%
from 02/12/2011 to 15/09/2026
principal amount of EUR 61,224,000
principal amount of EUR 35,000,000
indexed fixed rate of 5.00%
from 24/10/2013 to 15/09/2041
additional principal amount of EUR 4,970,000
principal amount of EUR 45,000,000
indexed fixed rate of 3.10%
from 15/09/2011 to 15/09/2026
fixed rate of 6.95% (raised from 6.10% to 6.95% on
restructuring date of 22/12/2011)
from 26/10/2011 to 15/09/2017
floating rate of six-months Euribor + 2.25% (decreased
from 2.6325% to 2.25% on restructuring date of
24/10/2013)
from 15/09/2013 to 15/09/2041
additional principal amount of EUR 20,000,000
principal amount of EUR 39,970,000
as from restructuring date of 18/09/2013
as from restructuring date of 24/10/2013
indexed fixed rate of 2.10%
from 15/09/2011 to 15/09/2017
The swap transactions consist of (see also Notes 3, 4, 7 and 8):
Receivable from Counterparty Payable to Counterparty
fixed rate of 5.40%
from 25/02/2011 to 15/09/2012
floating rate of six-months Euribor + 2.06%
from 15/09/2012 to 15/09/2041
principal amount of EUR 32,000,000 principal amount of EUR 32,000,000
indexed fixed rate of 2.55%
from 15/09/2010 to 15/09/2041
For each Serie and at their respective issuance date, the Company entered in swap transactions with Nomura International plc,
London (the "Counterparty"), under which the Company pays to the Counterparty all interest and principal received under the
Collateral Bond, and the Counterparty pays to the Company all interest and principal payable in respect of the Notes. The swap
agreement hedges the Company's interest rate exposure arising from mismatches between the interest and principal payments
received under the Collateral Bond and the interest and principal payment obligations under the Notes.
interest applicable to additional collateral
interest applicable to additional collateral
indexed fixed rate of 5.00%
from 18/09/2013 to 15/09/2041
principal amount of EUR 18,000,000
floating rate of EUR Eonia on Top Up Amount
Top Up Amount as applicable Top Up Amount as applicable
floating rate of six-months Euribor + 1.50% (decreased
from 2.25% to 1.50% on restructuring date of
18/09/2013)
from 15/09/2013 to 15/09/2041
principal amount of EUR 25,000,000
floating rate of six-months Euribor + 2.06%
from 15/09/2012 to 15/09/2041
principal amount of EUR 18,000,000
principal amount of EUR 28,500,000
fixed rate of 5.40%
from 25/02/2011 to 15/09/2012
indexed fixed rate of 2.55%
from 15/09/2010 to 15/09/2041
- 22 -
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Note 14 - Off balance sheet commitments (continued)
Note Series
Series 2011-07
Series 2012-08
Series 2012-11
Series 2014-12
Series 2014-12
fixed rate of 7.20%
from 22/12/2011 to 15/09/2021
indexed fixed rate of 2.10%
from 15/09/2011 to 15/09/2021
principal amount of EUR 6,475,000
one-off fixed rate of 7.50%
on 22/12/2011
fixed rate of 3.45%
from 15/09/2014 to 15/09/2015
principal amount of EUR 53,200,000
fixed rate of 4.65%
from 15/09/2018 to 15/09/2019
fixed rate of 4.35%
from 15/09/2017 to 15/09/2018
fixed rate of 5.25%
from 15/09/2020 to 15/09/2021
fixed rate of 5.55%
from 15/09/2021 to 15/09/2022
fixed rate of 5.85%
from 15/09/2022 to 15/09/2023
fixed rate of 3.75%
from 15/09/2015 to 15/09/2016
fixed rate of 4.05%
from 15/09/2016 to 15/09/2017
fixed rate of 4.95%
from 15/09/2019 to 15/09/2020
principal amount of EUR 40,000,000
fixed rate of 3.15%
from 20/02/2014 to 15/09/2014
indexed fixed rate of 2.60%
from 20/02/2014 to 15/09/2023
indexed fixed rate of 2.10%
from 19/03/2012 to 15/09/2017
fixed rate of 5.40%
from 19/03/2012 to 19/03/2013
principal amount of EUR 5,000,000
Receivable from Counterparty Payable to Counterparty
principal amount of EUR 5,000,000
fixed rate of 15.00% (not proratised)
from 26/09/2012 to 28/09/2012
indexed fixed rate of 2.60%
from 26/09/2012 to 15/09/2023
fixed rate of 5.45% (pro rata)
from 28/09/2012 to 15/09/2023
principal amount of EUR 5,000,000
principal amount of EUR 17,500,000
fixed rate of 6.90%
from 19/03/2015 to 19/03/2016
fixed rate of 6.40%
from 19/03/2014 to 19/03/2015
fixed rate of 8.40%
from 19/03/2016 to 19/03/2017
principal amount of EUR 17,500,000
fixed rate of 10.40%
from 19/03/2017 to 19/03/2018
fixed rate of 5.90%
from 19/03/2013 to 19/03/2014
- 23 -
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Note 14 - Off balance sheet commitments (continued)
Note Series Series 2014-13
Receivable from Counterparty floating rate of six-months Euribor + 2.00% from 25/02/2014 to 15/09/2019
principal amount of EUR 10,000,000
Payable to Counterparty indexed fixed rate of 2.35% from 25/02/2014 to 15/09/2019
principal amount of EUR 10,000,000
Series 2014-14 fixed rate of 2.94% from 25/02/2014 to 15/09/2023
principal amount of EUR 20,000,000
indexed fixed rate of 2.60% from 25/02/2014 to 15/09/2023
principal amount of EUR 26,600,000
Series 2014-15 fixed rate of 3.00% from 07/05/2014 to 15/09/2035
principal amount of EUR 20,000,000
indexed fixed rate of 2.35% from 07/05/2014 to 15/09/2035
principal amount of EUR 24,000,000
Series 2014-16 fixed rate of 3.00% from 19/05/2014 to 15/09/2024
principal amount of EUR 20,000,000
indexed fixed rate of 2.35% from 19105/2014 to 15/09/2024
principal amount of EUR 26,000,000
Series 2014-17 fixed rate of 2.06% from 8/07/2014 to 15/09/2024
principal amount of EUR 20,000,000
indexed fixed rate of 2.35% from 08/07/2014 to 15/09/2024
principal amount of EUR 26,000,000
Series 2014-18 floating rate of 3m Euribor +0.80 % from 29/10/2014 to 15/09/2026
principal amount of EUR 20,000,000
indexed fixed rate of 3.10% from 29/10/2014 to 15/09/2026
principal amount of EUR 24,000,000
Tthe valuation of the swap transactions is as follows: Mark to Market Market
Note Series Valuation Valuation 31/03/2015 31/03/2014
EUR EUR Series 2011-01 (26,295,121) (8,565,237) Series 2011-02 (14,791,007) (4,817,946) Series 2011-03 (27,101,415) (14,497,973) Series 2011-04 (30,240,734 ) (13,474,175) Series 2011-05 (26,682,539) (29,756,179) Series 2011-06 (3,043,950) (2,623,737) Series 2011-07 (955,867) (895,920) Series 2012-08 323,038 487,092
Market Market Note Series Valuation Valuation
31/03/2015 31/03/2014 EUR EUR
Series 2012-11 (385,140) (483,253) Series 2014-12 (23,895,013) (25,447,037) Series 2014-13 (1,694,341) (1,626,910) Series 2014-14 (13,754,014) (14,665,663) Series 2014-15 (13,738,612) n/a Series 2014-16 (8,541,993) n/a Series 2014-17 (8,755,631) n/a Series 2014-18 (13,446,297) n/a
Note 15 - Staff and members of the Board of Directors
During the financial year the Company did not employ personnel (2014: nil). Members of the Board of Directors were not remunerated (2014: nil). No advances nor loans were granted during the financial year to the members of those bodies (2014: nil).
- 24-
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Note 16 - Subsequent events
The Company repurchased and cancelled all outstanding Notes in Compartments 2014 (12), 2014 (14) and 2014 (17) on 27 July 2015, in Compartment 2014 (15) on 16 December 2015 and in Compartment 2014 (16) on 18 December 2015.
No other matters or circumstances of importance have arisen since the end of the financial year which have significantly affected or may significantly affect the operations of the Company, the results of those operations or the affairs of the Company.
- 25-
Novus Capital Luxembourg S.A.
Annex 1 - Balance sheet as at 31 December 2015 per compartment
Notes
ASSETS 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Fixed assets
Financial fixed assets
Securities and other financial instruments
held as fixed assets - - 32,000,000 32,000,000 18,000,000 18,000,000 28,500,000 28,500,000
Total fixed assets - - 32,000,000 32,000,000 18,000,000 18,000,000 28,500,000 28,500,000
Current assets
Debtors
Other receivables 2, 4
4,799 4,693 71,417 72,076 39,452 39,310 65,642 67,838
5 16,139 17,587 - - - - - -
- becoming due and payable within one year
Cash at bank, cash in postal cheque accounts, cheques and cash in handTotal current assets
20,938 22,280 71,417 72,076 39,452 39,310 65,642 67,838
Total (Assets) 20,938 22,280 32,071,417 32,072,076 18,039,452 18,039,310 28,565,642 28,567,838
6
31,000 31,000 - - - - - -
(9,255) (8,453) - - - - - -
(3,482) (802) - - - - - -
LIABILITIES
Capital and reserves
Subscribed capital
Profit or loss brought forward Profit or loss for the financial year Total capital and reserves 18,263 21,745 - - - - - -
Non subordinated debts Debenture loans
Non convertible loans 2, 7 - - 32,000,000 32,000,000 18,000,000 18,000,000 28,500,000 28,500,000
- becoming due and payable after more than one year
Tax and social security debts 13
- Tax debts 2,675 535 - - - - - -
Other creditors 2, 8
- - 71,417 72,076 39,452 39,310 65,642 67,838 - becoming due and payable within one year
Total non subordinated debts 2,675 535 32,071,417 32,072,076 18,039,452 18,039,310 28,565,642 28,567,838
Total (Liabilities) 20,938 22,280 32,071,417 32,072,076 18,039,452 18,039,310 28,565,642 28,567,838
General Cp. 2011-(1) Cp. 2011-(2) Cp. 2011-(3)
Annex I
Novus Capital Luxembourg S.A.
Annex 1 - Balance sheet as at 31 December 2015 per compartment
Notes
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
ASSETS EUR EUR EUR EUR EUR EUR EUR EUR
Fixed assets
Financial fixed assets
Securities and other financial instruments
held as fixed assets 2, 3 39,970,000 39,970,000 85,000,000 100,000,000 45,000,000 45,000,000 5,000,000 5,000,000
Total fixed assets 39,970,000 39,970,000 85,000,000 100,000,000 45,000,000 45,000,000 5,000,000 5,000,000
Current assets
Debtors
Other receivables 2, 4
- becoming due and payable within one year 102,869 107,812 5,818,665 455,907 2,420,801 2,420,262 201,843 201,803
Total current assets 102,869 107,812 5,818,665 455,907 2,420,801 2,420,262 201,843 201,803
Total (Assets) 40,072,869 40,077,812 90,818,665 100,455,907 47,420,801 47,420,262 5,201,843 5,201,803
LIABILITIES
Non subordinated debtsDebenture loans
Non convertible loans 2, 7
- becoming due and payable after more than one year 39,970,000 39,970,000 85,000,000 100,000,000 45,000,000 45,000,000 5,000,000 5,000,000
Other creditors 2, 8
- becoming due and payable within one year 102,869 107,812 5,818,665 455,907 2,420,801 2,420,262 201,843 201,803
Total non subordinated debts 40,072,869 40,077,812 90,818,665 100,455,907 47,420,801 47,420,262 5,201,843 5,201,803
Total (Liabilities) 40,072,869 40,077,812 90,818,665 100,455,907 47,420,801 47,420,262 5,201,843 5,201,803
Cp. 2011-(4) Cp. 2011-(5) Cp. 2011-(6) Cp. 2011-(7)
Annex I
Novus Capital Luxembourg S.A.
Annex 1 - Balance sheet as at 31 December 2015 per compartment
Notes
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
ASSETS EUR EUR EUR EUR EUR EUR EUR EUR
Fixed assets
Financial fixed assets
Securities and other financial instruments
held as fixed assets 2, 3 17,500,000 17,500,000 - - 5,000,000 5,000,000 38,000,000 38,000,000
Total fixed assets 17,500,000 17,500,000 - - 5,000,000 5,000,000 38,000,000 38,000,000
Current assets
Debtors
Other receivables 2, 4
- becoming due and payable within one year 62,010 58,780 - - 155,929 155,888 7,824,703 2,213,339
Total current assets 62,010 58,780 - - 155,929 155,888 7,824,703 2,213,339
Total (Assets) 17,562,010 17,558,780 - - 5,155,929 5,155,888 45,824,703 40,213,339
LIABILITIES
Non subordinated debtsDebenture loans
Non convertible loans 2, 7
- becoming due and payable after more than one year 17,500,000 17,500,000 - - 5,000,000 5,000,000 40,000,000 40,000,000
Other creditors 2, 8
- becoming due and payable within one year 62,010 58,780 - - 155,929 155,888 5,824,703 213,339
Total non subordinated debts 17,562,010 17,558,780 - - 5,155,929 5,155,888 45,824,703 40,213,339
Total (Liabilities) 17,562,010 17,558,780 - - 5,155,929 5,155,888 45,824,703 40,213,339
Cp. 2012-(10) Cp. 2012-(11)Cp. 2012-(8) Cp. 2014-(12)
Annex I
Novus Capital Luxembourg S.A.
Annex 1 - Balance sheet as at 31 December 2015 per compartment
Notes Cp. 2014-(15) Cp. 2014-(16) Cp. 2014-(17) Cp. 2014-(18)
31/03/2015 31/03/2014 31/03/2015 31/03/2014
ASSETS EUR EUR EUR EUR
Fixed assets
Financial fixed assets
Securities and other financial instruments
held as fixed assets 2, 3 10,000,000 10,000,000 19,000,000 19,000,000 20,000,000 20,000,000 20,000,000 20,000,000
Total fixed assets 10,000,000 10,000,000 19,000,000 19,000,000 20,000,000 20,000,000 20,000,000 20,000,000
Current assets
Debtors
Other receivables 2, 4
- becoming due and payable within one year 20,890 21,526 1,355,803 1,093,520 356,664 3,355,654 252,776 42,457
Total current assets 20,890 21,526 1,355,803 1,093,520 356,664 3,355,654 252,776 42,457
Total (Assets) 10,020,890 10,021,526 20,355,803 20,093,520 20,356,664 23,355,654 20,252,776 20,042,457
LIABILITIES
Non subordinated debtsDebenture loans
Non convertible loans 2, 7
- becoming due and payable after more than one year 10,000,000 10,000,000 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000
Other creditors 2, 8
- becoming due and payable within one year 20,890 21,526 355,803 93,520 356,664 3,355,654 252,776 42,457
Total non subordinated debts 10,020,890 10,021,526 20,355,803 20,093,520 20,356,664 23,355,654 20,252,776 20,042,457
Total (Liabilities) 10,020,890 10,021,526 20,355,803 20,093,520 20,356,664 23,355,654 20,252,776 20,042,457
Cp. 2014-(13) Cp. 2014-(14)
Annex I
Novus Capital Luxembourg S.A.
Annex 2 - Profit and loss account for the year ended 31 March 2015 per compartment
Notes
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
CHARGES EUR EUR EUR EUR EUR EUR EUR EUR
Other external charges 9 272 267 - - - - - -
Interest and other financial charges
11 - - 1,644,082 1,660,253 925,310 932,659 1,379,779 1,301,425 - Other interest and similar financial charges
Income tax 13 3,210 535 - - - - - -
Total charges 3,482 802 1,644,082 1,660,253 925,310 932,659 1,379,779 1,301,425
INCOME
Income from financial fixed assets- other income from participating interests 12 - - 882,521 882,797 496,418 496,573 864,469 712,046
Other interest and other financial income 13
- - 761,561 777,456 428,892 436,086 515,310 589,379 - other interest and similar financial income
Loss for the financial year 3,482 802 - - - - - -
Total income 3,482 802 1,644,082 1,660,253 925,310 932,659 1,379,779 1,301,425
Cp. 2011-(2) Cp. 2011-(3)General Cp. 2011-(1)
Annex II
Novus Capital Luxembourg S.A.
Annex 2 - Profit and loss account for the year ended 31 March 2015 per compartment
Notes
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
CHARGES
Interest and other financial charges11 2,237,699 2,073,003 9,053,506 9,873,390 6,301,063 6,301,693 506,644 506,690 - Other interest and similar financial charges
Total charges 2,237,699 2,073,003 9,053,506 9,873,390 6,301,063 6,301,693 506,644 506,690
INCOME
Income from financial fixed assets- other income from participating interests 12 1,211,060 1,022,162 2,678,235 2,916,330 2,003,563 2,004,193 146,644 146,690
Other interest and other financial income
13 1,026,639 1,050,841 6,375,271 6,957,060 4,297,500 4,297,500 360,000 360,000 - other interest and similar financial income
Loss for the financial year - - - - - - - -
Total income 2,237,699 2,073,003 9,053,506 9,873,390 6,301,063 6,301,693 506,644 506,690
Cp. 2011-(4) Cp. 2011-(5) Cp. 2011-(6) Cp. 2011-(7)
Annex II
Novus Capital Luxembourg S.A.
Annex 2 - Profit and loss account for the year ended 31 March 2015 per compartment
Notes
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
CHARGES
Interest and other financial charges
11 1,548,278 1,460,915 - 423,835 424,879 424,927 2,900,394 322,463 - Other interest and similar financial charges
Total charges 1,548,278 1,460,915 - 423,835 424,879 424,927 2,900,394 322,463
INCOME
Income from financial fixed assets- other income from participating interests 12 425,163 425,298 - 147,641 152,379 152,427 1,571,226 178,963
Other interest and other financial income
13 1,123,115 1,035,617 - 276,194 272,500 272,500 1,329,168 2,143,500 - other interest and similar financial income
Loss for the financial year - - - - - - - -
Total income 1,548,278 1,460,915 - 423,835 424,879 424,927 2,900,394 2,322,463
Cp. 2012-(8) Cp. 2012-(10) Cp. 2012-(11) Cp. 2014-(12)
Annex II
Novus Capital Luxembourg S.A.
Annex 2 - Profit and loss account for the year ended 31 March 2015 per compartment
Notes Cp. 2014-(15) Cp. 2014-(16) Cp. 2014-(17) Cp. 2014-(18)
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2015 31/03/2015 31/03/2015
EUR EUR EUR EUR EUR EUR EUR EUR
CHARGES
Interest and other financial charges
11 490,450 46,022 1,373,605 130,622 1,240,964 1,160,044 946,232 410,146 - other interests and similar financial charges
Total charges 490,450 46,022 1,373,605 130,622 1,240,964 1,160,044 946,232 410,146
INCOME
Income from financial fixed assets- other income from participating interests 12 258,953 23,729 785,977 72,022 700,964 638,376 638,376 335,018
Other interest and other financial income
13 231,497 22,293 587,628 1,058,600 540,000 521,668 307,856 75,128 - other interest and similar financial income
Loss for the financial year - - - - - - - -
Total income 490,450 46,022 1,373,605 1,130,622 1,240,964 1,160,044 946,232 410,146
Cp. 2014-(13) Cp. 2014-(14)
Annex II
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Annex 3 - Note 3. Securities and other financial instruments held as fixed assets per compartment
Acquisition Cost per compartment 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Opening balance as at 1 April 32,000,000 32,000,000 18,000,000 18,000,000 28,500,000 25,000,000 39,970,000 35,000,000
Acquisition during the year - - - - - 3,500,000 - 4,970,000
Disposals during the year - - - - - - - -
Closing balance as at 31 March 32,000,000 32,000,000 18,000,000 18,000,000 28,500,000 28,500,000 39,970,000 39,970,000
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Opening balance as at 1 April 100,000,000 100,000,000 45,000,000 45,000,000 5,000,000 5,000,000 17,500,000 17,500,000
Acquisition during the year - - - - - - -
Disposals during the year (15,000,000) - - - - - - -
Closing balance as at 31 March 85,000,000 100,000,000 45,000,000 45,000,000 5,000,000 5,000,000 17,500,000 17,500,000
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Opening balance as at 1 April - 10,000,000 5,000,000 5,000,000 38,000,000 - 10,000,000 -
Acquisition during the year - - - - - 38,000,000 - 10,000,000
Disposals during the year - (10,000,000) - - - - - -
Closing balance as at 31 March - - 5,000,000 5,000,000 38,000,000 38,000,000 10,000,000 10,000,000
Cp. 2011-(1) Cp. 2011-(2) Cp. 2011-(3) Cp. 2011-(4)
Cp. 2011-(5) Cp. 2011-(6) Cp. 2011-(7) Cp. 2012-(8)
Cp. 2012-(10) Cp. 2012-(11) Cp. 2014-(12) Cp. 2014-(13)
Annex III
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Annex 3 - Note 3. Securities and other financial instruments held as fixed assets per compartment
Cp. 2012-(15) Cp. 2014-(16) Cp. 2014-(17) Cp. 2012-(18)
Acquisition Cost per compartment 31/03/2015 31/03/2014 31/03/2015 31/03/2015 31/03/2015 31/03/2015
EUR EUR EUR EUR EUR EUR
Opening balance as at 1 April 19,000,000 - - - - -
Acquisition during the year - 19,000,000 20,000,000 20,000,000 20,000,000 20,000,000
Disposals during the year - - - - - -
Closing balance as at 31 March 19,000,000 19,000,000 20,000,000 20,000,000 20,000,000 20,000,000
Cp. 2012-(14)
Annex III
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Annex 4 - Note 4. Other receivables, becoming due and payable within one year per compartment
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Additional collateral - - - - - - - -
Accrued interest on Collateral Bond 39,446 39,209 22,188 22,055 45,401 45,215 61,156 63,593
Accrued interest income on Swap Transaction 31,971 32,867 17,264 17,255 20,241 22,623 41,713 44,219
Other receivables - - - - - - - -
Total 71,417 72,076 39,452 39,310 65,642 67,838 102,869 107,812
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Additional collateral 5,435,000 - - - - - - -
Accrued interest on Collateral Bond 110,764 129,527 89,554 89,015 6,555 6,515 19,004 18,889
Accrued interest income on Swap Transaction 272,901 326,380 2,331,247 2,331,247 195,288 195,288 43,006 39,891
Other receivables - - - - - - - -
Total 5,818,665 455,907 2,420,801 2,420,262 201,843 201,803 62,010 58,780
Cp. 2011-(1) Cp. 2011-(2) Cp. 2011-(3) Cp. 2011-(4)
Cp. 2011-(5) Cp. 2011-(6) Cp. 2011-(7) Cp. 2012-(8)
Annex IV
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Annex 4 - Note 4. Other receivables, becoming due and payable within one year per compartment
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Additional collateral - - - - 5,000,000 - - -
Accrued interest on Collateral Bond - - 6,811 6,770 69,535 69,839 11,574 11,505
Accrued interest income on Swap Transaction - - 149,118 149,118 755,168 143,500 9,316 10,021
Other receivables - - - - 2,000,000 2,000,000 - -
Total - - 155,929 155,888 7,824,703 2,213,339 20,890 21,526
Cp. 2012-(15) Cp. 2014-(16) Cp. 2014-(17) Cp. 2012-(18)
31/03/2015 31/03/2014 31/03/2015 31/03/2015 31/03/2015 31/03/2015
EUR EUR EUR EUR EUR EUR
Additional collateral - - - 3,000,000 - -
Accrued interest on Collateral Bond 35,131 34,920 29,998 27,320 27,320 35,105
Accrued interest income on Swap Transaction 320,672 58,600 326,666 328,334 225,456 7,352
Other receivables 1,000,000 1,000,000 - - - -
Total 1,355,803 1,093,520 356,664 3,355,654 252,776 42,457
Cp. 2012-(10) Cp. 2012-(11) Cp. 2014-(12) Cp. 2014-(13)
Cp. 2012-(14)
Annex IV
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Annex 5 - Note 7. Non convertible loans, becoming due and payable after more than one year per compartment
Acquisition Cost per compartment 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Balance as at 1 April 32,000,000 32,000,000 18,000,000 18,000,000 28,500,000 27,500,000 39,970,000 35,000,000
Issues during the year - - - - - 1,000,000 - 4,970,000
Redemptions during the year - - - - - - - -
Balance as at 31 March 32,000,000 32,000,000 18,000,000 18,000,000 28,500,000 28,500,000 39,970,000 39,970,000
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Balance as at 1 April 100,000,000 100,000,000 45,000,000 45,000,000 5,000,000 5,000,000 17,500,000 17,500,000
Issues during the year - - - - - - -
Redemptions during the year (15,000,000) - - - - - - -
Balance as at 31 March 85,000,000 100,000,000 45,000,000 45,000,000 5,000,000 5,000,000 17,500,000 17,500,000
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Balance as at 1 April - 10,000,000 5,000,000 5,000,000 40,000,000 - 10,000,000 -
Issues during the year - - - - - 40,000,000 - 10,000,000
Redemptions during the year - (10,000,000) - - - - - -
Balance as at 31 March - - 5,000,000 5,000,000 40,000,000 40,000,000 10,000,000 10,000,000
Cp. 2012-(10) Cp. 2012-(11) Cp. 2014-(12) Cp. 2014-(13)
Cp. 2011-(1) Cp. 2011-(2) Cp. 2011-(3) Cp. 2011-(4)
Cp. 2011-(5) Cp. 2011-(6) Cp. 2011-(7) Cp. 2012-(8)
Annex V
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Annex 5 - Note 7. Non convertible loans, becoming due and payable after more than one year per compartment
Cp. 2012-(15) Cp. 2014-(16) Cp. 2014-(17) Cp. 2012-(18)
31/03/2015 31/03/2014 31/03/2015 31/03/2015 31/03/2015 31/03/2015
EUR EUR EUR EUR EUR EUR
Balance as at 1 April 20,000,000 - - - - -
Issues during the year - 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000
Redemptions during the year - - - - - -
Balance as at 31 March 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000 20,000,000
Cp. 2012-(14)
Annex V
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Annex 6 - Note 8. Other creditors, becoming due and payable within one year per compartment
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Accrued Interest on Notes 31,971 32,867 17,264 17,255 20,241 22,623 41,713 44,219
Accrued Interest on Swap Transaction 39,446 39,209 22,188 22,055 45,401 45,215 61,156 63,593
Overcollateralisation reserve - - - - - - - -
Total 71,417 72,076 39,452 39,310 65,642 67,838 102,869 107,812
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Accrued Interest on Notes 272,901 326,380 2,331,247 2,331,247 195,288 195,288 43,006 39,891
Accrued Interest on Swap Transaction 110,764 129,527 89,554 89,015 6,555 6,515 19,004 18,889
Overcollateralisation reserve 5,435,000 - - - - - - -
Total 5,818,665 455,907 2,420,801 2,420,262 201,843 201,803 62,010 58,780
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Accrued Interest on Notes - - 149,118 149,118 755,168 143,500 9,316 10,021
Accrued Interest on Swap Transaction - - 6,811 6,770 69,535 69,839 11,574 11,505
Overcollateralisation reserve - - - - 5,000,000 - - -
Total - - 155,929 155,888 5,824,703 213,339 20,890 21,526
Cp. 2012-(10) Cp. 2012-(11) Cp. 2014-(12) Cp. 2014-(13)
Cp. 2011-(1) Cp. 2011-(2) Cp. 2011-(3) Cp. 2011-(4)
Cp. 2011-(5) Cp. 2011-(6) Cp. 2011-(7) Cp. 2012-(8)
Annex VI
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Annex 6 - Note 8. Other creditors, becoming due and payable within one year per compartment
Cp. 2012-(15) Cp. 2014-(16) Cp. 2014-(17) Cp. 2012-(18)
31/03/2015 31/03/2014 31/03/2015 31/03/2015 31/03/2015 31/03/2015
EUR EUR EUR EUR EUR EUR
Accrued Interest on Notes 320,672 58,600 326,666 328,334 225,456 7,352
Accrued Interest on Swap Transaction 35,131 34,920 29,998 27,320 27,320 35,105
Overcollateralisation reserve - - - 3,000,000 - -
Total 355,803 93,520 356,664 3,355,654 252,776 42,457
Cp. 2012-(14)
Annex VI
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Annex 7 - Note 10. Interest and other financial charges per compartment
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Interest charges on Notes 761,561 777,456 428,892 436,086 515,310 589,379 1,026,639 1,050,841
Interest charges on Swap transactions 882,521 882,797 496,418 496,573 864,469 712,046 1,211,060 1,022,162
Total 1,644,082 1,660,253 925,310 932,659 1,379,779 1,301,425 2,237,699 2,073,003
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Interest charges on Notes 6,375,271 6,957,060 4,297,500 4,297,500 360,000 360,000 1,123,115 1,035,617
Interest charges on Swap transactions 2,678,235 2,916,330 2,003,563 2,004,193 146,644 146,690 425,163 425,298
Total 9,053,506 9,873,390 6,301,063 6,301,693 506,644 506,690 1,548,278 1,460,915
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Interest charges on Notes - 276,194 272,500 272,500 1,329,168 143,500 231,497 22,293
Interest charges on Swap transactions - 147,641 152,379 152,427 1,571,226 178,963 258,953 23,729
Total - 423,835 424,879 424,927 2,900,394 322,463 490,450 46,022
Cp. 2012-(10) Cp. 2012-(11) Cp. 2014-(12) Cp. 2014-(13)
Cp. 2011-(1) Cp. 2011-(2) Cp. 2011-(3) Cp. 2011-(4)
Cp. 2011-(5) Cp. 2011-(6) Cp. 2011-(7) Cp. 2012-(8)
Annex VII
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Annex 7 - Note 10. Interest and other financial charges per compartment
Cp. 2012-(15) Cp. 2014-(16) Cp. 2014-(17) Cp. 2012-(18)
31/03/2015 31/03/2014 31/03/2015 31/03/2015 31/03/2015 31/03/2015
EUR EUR EUR EUR EUR EUR
Interest charges on Notes 587,628 58,600 540,000 521,668 307,856 75,128
Interest charges on Swap transactions 785,977 72,022 700,964 638,376 638,376 335,018
Total 1,373,605 130,622 1,240,964 1,160,044 946,232 410,146
Cp. 2012-(14)
Annex VII
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Annex 8 - Note 11. Income from financial fixed assets per compartment
Other income from 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
participating interests EUR EUR EUR EUR EUR EUR EUR EUR
Interest income from Collateral Bond 882,521 882,797 496,418 496,573 864,469 712,046 1,211,060 1,022,162
Total 882,521 882,797 496,418 496,573 864,469 712,046 1,211,060 1,022,162
Other income from 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
participating interests EUR EUR EUR EUR EUR EUR EUR EUR
Interest income from Collateral Bond 2,678,235 2,916,330 2,003,563 2,004,193 146,644 146,690 425,163 425,298
Total 2,678,235 2,916,330 2,003,563 2,004,193 146,644 146,690 425,163 425,298
Other income from 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
participating interests EUR EUR EUR EUR EUR EUR EUR EUR
Interest income from Collateral Bond - 147,641 152,379 152,427 1,571,226 178,963 258,953 23,729
Total - 147,641 152,379 152,427 1,571,226 178,963 258,953 23,729
Cp. 2012-(10) Cp. 2012-(11) Cp. 2014-(12) Cp. 2014-(13)
Cp. 2011-(1) Cp. 2011-(2) Cp. 2011-(3) Cp. 2011-(4)
Cp. 2011-(5) Cp. 2011-(6) Cp. 2011-(7) Cp. 2012-(8)
Annex VIII
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Annex 8 - Note 11. Income from financial fixed assets per compartment
Cp. 2012-(15) Cp. 2014-(16) Cp. 2014-(17) Cp. 2012-(18)
Other income from 31/03/2015 31/03/2014 31/03/2015 31/03/2015 31/03/2015 31/03/2015
participating interests EUR EUR EUR EUR EUR EUR
Interest income from Collateral Bond 785,977 72,022 700,964 638,376 638,376 335,018
Total 785,977 72,022 700,964 638,376 638,376 335,018
Cp. 2012-(14)
Annex VIII
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Annex 9 - Note 12. Other interest and other financial income per compartment
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Interest receivable on Swap transactions 761,561 777,456 428,892 436,086 515,310 589,379 1,026,639 1,050,841
Other interest income - - - - - - - -
Total 761,561 777,456 428,892 436,086 515,310 589,379 1,026,639 1,050,841
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Interest receivable on Swap transactions 6,375,271 6,957,060 4,297,500 4,297,500 360,000 360,000 1,123,115 1,035,617
Other interest income - - - - - - - -
Total 6,375,271 6,957,060 4,297,500 4,297,500 360,000 360,000 1,123,115 1,035,617
31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014 31/03/2015 31/03/2014
EUR EUR EUR EUR EUR EUR EUR EUR
Interest receivable on Swap transactions - 276,194 272,500 272,500 1,329,168 2,143,500 231,497 22,293
Other interest income - - - - - - - -
Total - 276,194 272,500 272,500 1,329,168 2,143,500 231,497 22,293
Cp. 2012-(10) Cp. 2012-(11) Cp. 2014-(12) Cp. 2014-(13)
Cp. 2011-(1) Cp. 2011-(2) Cp. 2011-(3) Cp. 2011-(4)
Cp. 2011-(5) Cp. 2011-(6) Cp. 2011-(7) Cp. 2012-(8)
Annex IX
Novus Capital Luxembourg S.A.
6. NOTES TO THE ANNUAL ACCOUNTS
Annex 9 - Note 12. Other interest and other financial income per compartment
Cp. 2012-(15) Cp. 2014-(16) Cp. 2014-(17) Cp. 2012-(18)
31/03/2015 31/03/2014 31/03/2015 31/03/2015 31/03/2015 31/03/2015
EUR EUR EUR EUR EUR EUR
Interest receivable on Swap transactions 587,628 1,058,600 540,000 521,668 307,856 75,128
Other interest income - - - - - -
Total 587,628 1,058,600 540,000 521,668 307,856 75,128
Cp. 2012-(14)
Annex IX