(in thousands of euros) | Amount at January 1, 2020 | 2020 | 2020 reversal (provision used) | 2020 reversal (unused provision) | Amount at December 31, 2020 |
Provision for risks on treasury shares and free share grants not yet vested(1) | 48,820 | 4,714 | (39,169) | - | 14,365 |
Other provisions for risks | 2,236 | 114 | (65) | - | 2,285 |
Total | 51,056 | 4,828 | (39,234) | - | 16,650 |
(1) This provision is made on the one hand to cover the loss resulting from the difference between the subscription price and the cost price of the treasury shares when they have been allocated to the share purchase plans for Groupe employees, and on the other hand to cover the future loss on existing shares under free share plans.
It should also be noted that provisions and provision reversals relating to costs borne by Publicis Groupe SA in relation to these plans are presented in the income statement under personnel costs in accordance with Notice no. 2008-17 from the French National Accounting Council.
Number of securities | Category of bond | December 31, 2020 | December 31, 2019 |
7,000 | Eurobond 2021 – 1.125% | 700,000 | 700,000 |
6,000 | Eurobond 2024 – 1.625% | 600,000 | 600,000 |
5,000 | Eurobond 2023 – 0.5% | 500,000 | 500,000 |
Total excluding accrued interest | 1,800,000 | 1,800,000 | |
Accrued interest | 1,177 | 2,281 | |
Balance sheet total | 1,801,177 | 1,802,281 |
This euro 1.3 billion loan issued on December 16, 2014 as part of the financing for the acquisition of Sapient, which took place in February 2015, comprises two tranches:
Eurobond 2021 – 1.125%: this euro 700 million tranche has a seven-year maturity and a fixed rate of 1.125%. It is fully redeemable at par upon maturity on December 16, 2021.
Eurobond 2024 – 1.625%: this euro 600 million tranche has a ten-year maturity and a fixed rate of 1.625%. It is fully redeemable at par upon maturity on December 16, 2024.
The two tranches were subject to the following cross-currency interest rate swaps:
The cross-currency interest rate swaps were unwound on December 16, 2020, resulting in the payment of a balance in the amount of euro 16,462,000.
On November 3, 2016, Publicis Groupe SA issued a fixed-rate bond for euro 500 million, maturing in November 2023 (seven years), with a 0.5% annual coupon.
