These financial instruments were not entered into for speculative purposes, but neither were formally designated and therefore did not qualify as hedging instruments for accounting purposes and as a result changes in their fair value are recognized in profit or loss within finance cost. The main characteristics and the fair value of these derivatives at December 31, 2016 and 2017 are as follows:
|
|
|
Notional amount (millions) |
|
|
Coverage start date |
|
Rate |
|
Floor |
|
|
CAP 1 |
|
|
CAP 2 |
|
|
Due date |
|
Fair value December31, 2016 |
|
|||||||
|
HSBC |
|
USD |
$ |
95.5 |
|
|
March 2016 |
|
Libor 30 |
|
|
0.42 |
% |
|
|
1.75 |
% |
|
|
2.75 |
% |
|
January 2021 |
|
Ps. |
|
18,111 |
|
|
HSBC |
|
USD |
$ |
95.5 |
|
|
March 2016 |
|
Libor 30 |
|
|
0.42 |
% |
|
|
1.75 |
% |
|
|
2.75 |
% |
|
February 2021 |
|
|
|
18,417 |
|
|
Scotiabank |
|
Ps. |
|
2,200.0 |
|
|
April 2016 |
|
TIIE 28 |
|
|
4.05 |
% |
|
|
5.75 |
% |
|
|
6.75 |
% |
|
February 2021 |
|
|
|
35,926 |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ps. |
|
72,454 |
|
|
|
|
Notional amount (millions) |
|
|
Coverage start date |
|
Rate |
|
|
Floor |
|
|
CAP 1 |
|
|
CAP 2 |
|
|
Due date |
|
Fair value December31, 2017 |
|
||||||||
|
HSBC |
|
USD |
$ |
95.5 |
|
|
March 2016 |
|
Libor 30 |
|
|
|
0.42 |
% |
|
|
1.75 |
% |
|
|
2.75 |
% |
|
January 2021 |
|
Ps. |
|
16,442 |
|
|
|
HSBC |
|
USD |
$ |
95.5 |
|
|
March 2016 |
|
Libor 30 |
|
|
|
0.42 |
% |
|
|
1.75 |
% |
|
|
2.75 |
% |
|
February 2021 |
|
|
|
16,753 |
|
|
|
Scotiabank |
|
Ps. |
|
2,200.0 |
|
|
April 2016 |
|
TIIE 28 |
|
|
|
4.05 |
% |
|
|
5.75 |
% |
|
|
6.75 |
% |
|
February 2021 |
|
|
|
37,577 |
|
|
|
HSBC |
|
Ps. |
|
1,500.0 |
|
|
Mayo 2017 |
|
7.21% |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
March 2022 |
|
|
|
36,043 |
|
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ps. |
|
106,815 |
|