| 31 December 2012 | 31 December 2011 | |
|---|---|---|
| Short-term liabilities | 97,256 | 105,052 |
| Long-term liabilities | 1,316,479 | 1,417,525 |
| Total | 1,413,735 | 1,522,577 |
Change in Senior Notes payable
for the year ended
| 31 December 2012 | 31 December 2011 | |
|---|---|---|
| Senior Notes payable as at 1 January | 1,522,577 | - |
| Issuance of Senior Notes | - | 1,372,245 |
| Unrealized foreign exchange (gains)/losses | (112,143) | 169,376 |
| Repayment of interest and commission | (105,625) | (89,624) |
| Interest accrued | 108,926 | 70,580 |
| Senior Notes payable as at 31 December | 1,413,735 | 1,522,577 |
Conclusion of an Indenture
On 20 May 2011 the Company, the Company’s subsidiary Cyfrowy Polsat Finance AB (the ’Issuer’), the Bank of New York Mellon, London Branch, the Bank of New York Mellon Luxembourg S.A., and the Initial Guarantors (the Company, CPT, CPTM) entered into an indenture (the ’Indenture’) for the issuance of Senior Notes due in 2018 with aggregate principal amount of EUR 350 million (not in thousand) (PLN 1,372,245) (the ’Notes’).
The interest on the Senior Notes will accrue at the fixed rate of 7.125% per annum payable semiannually in arrears on 20 May and 20 November, commencing on 20 November 2011. The Senior Notes shall be redeemed on 20 May 2018 by way of a pecuniary payment equal to the face value of the Senior Notes.
