Consolidated Financial Statements

Notes to consolidated financial statements
For the years ended December 31, 2011 and 2010 (as adjusted)
(In thousands of Mexican pesos ($) and thousands of U.S. dollars (US$))


1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25


10. Long-term debt



    2011   2010
I. Syndicated loan for US 600,000, maturing in September 2011, bearing interest payable on a quarterly basis at interest rate equal to Libor plus 0.275% $ - $ 7,414,260
II. Direct loan in different currencies mainly euros, with quarterly and semiannual maturities at variable rates, and final maturity in 2016   151,348   132,092
III. Other loans   2,198   44,558
    153,546   7,590,910
Less – current portion   (36,174)   (7,449,346)
Long-term debt $ 117,372 $ 141,564


Long-term debt bears interest at variable rates. The weighted average interest rates during 2011 and 2010 for U.S. dollar loans were 0.57% and 0.65%, respectively.

Maturities of long-term debt as of December 31, 2011 are as follows:

Year ending
December 31
   
2013 $ 36,174
2014   36,174
2015 and thereafter   45,024
  $ 117,372


The direct loan contracts establish affirmative and negative covenants for the borrowers; additionally, based on the Company's and some of their subsidiaries consolidated financial statements, certain financial ratios and percentages must be maintained. All of these requirements have been met at the date of issuance of these consolidated financial statements.