XML 58 R34.htm IDEA: XBRL DOCUMENT
v3.22.1

Borrowings | 12 Months Ended
--- | ---
Dec. 31, 2021
Borrowings |
| Note | 29 | Borrowings
Schedule of borrowings
|  | 12.31.21 |  | 12.31.20
Non-current |  |  |  |
Corporate notes (1) |  | - |  | 12,465
Current |  |  |  |
Corporate notes (1) |  | 10,067 |  | -
Interest from corporate notes |  | 195 |  | 216
Total current |  | 10,262 |  | 216
| (1) | Net of debt issuance, repurchase and redemption expenses.
The fair values of the Company’s non-current borrowings as of December 31, 2021 and 2020 amount approximately to $ 8,982.5 and $ 10,228.5, respectively. Such values were determined on the basis of the estimated market price of the Company’s Corporate Notes at the end of each year. The applicable fair value category is Level 1. Schedule of borrowings currency denominations The Company’s borrowings are denominated in the following currencies:
|  | 12.31.21 |  | 12.31.20
US dollars |  | 10,262 |  | 12,681
Schedule of maturities of the company's borrowings and exposure to interest rate The maturities of the Company’s borrowings and their exposure to interest rates are as follow:
|  | 12.31.21 |  | 12.31.20
Fixed rate |  |  |  |
Less than 1 year |  | 10,262 |  | 216
From 1 to 2 years |  | - |  | 12,465
Total fixed rate |  | 10,262 |  | 12,681
Schedule of roll forward of the company's borrowings The roll forward of the Company’s borrowings during the year was as follows:
|  | 12.31.21 |  | 12.31.20
Balance at beginning of the year |  | 12,681 |  | 20,246
Payment of borrowings' interests |  | (895) |  | (1,385)
Paid from repurchase of Corporate Notes |  | (17) |  | (5,731)
Payment of borrowings |  | - |  | (1,132)
Gain from repurchase of Corporate Notes |  | (3) |  | (626)
Exchange diference and interest accrued |  | 2,769 |  | 6,113
Result from exposure to inlfation |  | (4,273) |  | (4,804)
Balance at the end of year |  | 10,262 |  | 12,681
Corporate Notes programs Schedule of debt issued The Company has a Corporate Notes program, the relevant information of which is detailed below: Debt issued in United States dollars
|  |  |  |  |  |  |  | USD | $
Corporate Notes |  | Class |  | Rate |  | Year of Maturity |  | Debt structure at 12.31.20 |  | Debt repurchase |  | Debt structure at 12.31.21 |  | At 12.31.21
Fixed Rate Par Note |  | 9 |  | 9.75 |  | 2022 |  | 98 |  | - |  | 98 |  | 10,067
Total |  |  |  |  |  |  |  | 98 |  | - |  | 98 |  | 10,067
|  |  |  |  |  |  |  | USD | $
Corporate Notes |  | Class |  | Rate |  | Year of Maturity |  | Debt structure at 12.31.19 |  | Debt repurchase |  | Debt structure at 12.31.20 |  | At 12.31.20
Fixed Rate Par Note |  | 9 |  | 9.75 |  | 2022 |  | 137 |  | (39) |  | 98 |  | 12,465
Total |  |  |  |  |  |  |  | 137 |  | (39) |  | 98 |  | 12,465
The main covenants are those detailed below:
| i. | Negative Covenants
The terms and conditions of the Corporate Notes include a number of negative covenants that limit the Company’s actions with regard to, among others, the following:
| - | Encumbrance or authorization to encumber its property or assets;
| - | Incurrence of indebtedness, in certain specified cases;
| - | Sale of the Company’s assets related to its main business;
| - | Carrying out of transactions with shareholders or related companies;
| - | Making certain payments (including, among others, dividends, purchases of edenor’s common shares or payments on subordinated debt).
| ii. | Suspension of Covenants:
Certain negative covenants stipulated in the terms and conditions of the Corporate Notes will be suspended or adapted if:
| - | The Company’s long-term debt rating is raised to Investment Grade, or the Company’s Debt Ratio is equal to or lower than 3.
| - | If the Company subsequently losses its Investment Grade rating or its Debt Ratio is higher than 3, as applicable, the suspended negative covenants will be once again in effect.
At the date of issuance of these financial statements, the previously mentioned ratios have been complied with. Furthermore, on January 28, 2021, the Company paid Class 9 Corporate Notes for a total of USD 224,000 nominal value, equivalent to $ 23, received as collection of receivables. At the date of these financial statements, the Corporate Notes that remain outstanding amount to USD 98.1 million nominal value. Additionally, on July 16, 2021, within the framework of the change of control of the Company (Note 39), and as provided for in article 10.3 of the class 9 Corporate Notes prospectus, which provides that each holder of these instruments will be entitled to require that the Company repurchase all or any part thereof by submitting an Offer due to Change of Control, the Company’s Board of Directors approved and informed the markets of the launching of the consent solicitation for consents of the holders of Corporate Notes due 2022. In this regard, on July 30, 2021, the Company, given the majority support of the holders, obtained approval of the consent solicitation issued on July 16. Thus, edenor maintains the financial terms set forth in the respective Corporate Notes.

X
- Definition The disclosure of borrowings. [Refer: Borrowings] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_10_e&doctype=Standard -URIDate 2021-03-24 + Details
Name: | ifrs-full_DisclosureOfBorrowingsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration