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BORROWINGS (Tables)
 12 Months Ended
Dec. 31, 2017
Borrowings [abstract]  
Disclosure of detailed information about borrowings
The weighted average interest rates - which incorporate instruments denominated mainly in US dollars and Argentine pesos and which do not include the effect of derivative financial instruments nor the devaluation of these local currencies - at year-end were as follows:
 
As of December 31,
 
2017
 
2016
 
 
 
 
Bank borrowings
4.76
%
 
6.92
%
 
As of December 31,
 
2017
 
2016
 
 
 
 
(i) Non-current
 
 
 
 
 
 
 
Bank borrowings
1,724,454

 
398,851

Less: debt issue costs
(8,117
)
 
(2,109
)
 
 
 
 
 
1,716,337

 
396,742

 
 
 
 
(ii) Current
 
 
 
 
 
 
 
Bank borrowings
1,510,820

 
823,563

Less: debt issue costs
(5,250
)
 
(1,670
)
 
 
 
 
 
1,505,570

 
821,893

 
 
 
 
Total Borrowings
3,221,907

 
1,218,635

Breakdown of borrowings by currency is as follows:
 
 
 
 
As of December 31,
Currencies
 
Contract
 
2017
 
2016
 
 
 
 
 
 
 
USD
 
Floating
 
2,061,106

 
790,772

USD
 
Fixed
 
791,158

 
141,889

ARS
 
Floating
 
2,377

 
—

ARS
 
Fixed
 
328,060

 
234,576

COP
 
Floating
 
11,793

 
23,520

COP
 
Fixed
 
18,500

 
19,163

GTQ
 
Fixed
 
8,913

 
8,715

 
 
 
 
 
 
 
 
 
 
 
3,221,907

 
1,218,635

Ternium’s most significant borrowings as of December 31, 2017, were those incurred under Ternium México’s syndicated loan facilities, in order to improve its maturity profile in 2013 and under Tenigal’s syndicated loan facility, in order to finance the construction of its hot-dipped galvanizing mill in Pesquería, Mexico, and under Ternium Investments S.à r.l., in order to finance the acquisition of Ternium Brasil:
 
 
 
 
 
 
In USD million
 
 
Date
 
Borrower
 
Type
 
Original
principal
amount
 
Outstanding principal amount as of December 31, 2017
 
Maturity
 
 
 
 
 
 
 
 
 
 
 
November 2013
 
Ternium Mexico
 
Syndicated loan
 
800

 
155

 
November 2018
Years 2012 and 2013
 
Tenigal
 
Syndicated loan
 
200

 
125

 
July 2022
September 2017
 
Ternium Investments S.à r.l.
 
Syndicated loan
 
1,500

 
1,500

 
September 2022
Disclosure of maturities of borrowings
The maturity of borrowings is as follows:
 
Expected Maturity Date
 
 
 
 
 
2020 and
 
At December 31, (1)
 
2018
 
2019
 
thereafter
 
2017
 
2016
 
 
 
 
 
 
 
 
 
 
Fixed Rate
1,112,760

 
13,929

 
19,942

 
1,146,631

 
404,926

Floating Rate
392,810

 
409,015

 
1,273,451

 
2,075,276

 
813,709

 
 
 
 
 
 
 
 
 
 
Total
1,505,570

 
422,944

 
1,293,393

 
3,221,907

 
1,218,635