b'STAATSOLIE MAATSCHAPPIJ SURINAME N.V.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2020 (Continued)Local bond US$50,000givencertainconditions.Repayment of the term loan was planned for 23 OnMay14,2020thesecondfive-yearunsecured quarterlyinstallments,tocommenceinthefourthcouponbondwhichhadraisedUS$99,142, quarterof2019.matured.InJuly2020StaatsolieobtainedadeferralofTheapplicableannualinterestratewas7.75%and US$62,500inamortizationfromthebanks.acouponwassoldforUS$100each. ThisdeferralentailsthatthepaymentoftheTwomonthsprior,onMarch23,2020,Staatsolie amortizationwasreducedforaperiodof4issued its third bond which allowed bond holdersconsecutivequartersstartinginAugust2020.of the second bond to participate in the newThesedelayedpaymentswillbeincorporatedissuance.intheamortizationschedulewheretheThethirdissuedbondconsistsofbondsforthe amortizationwillbeincreasedfromUS$25,000period20202025withanannualinterestrateof toUS$37,500startinginMay2023.7%andbondsfortheperiod20202027foran TheoutstandingamountasofDecember31,annualinterestrateof7.5%. 2020amountedtoUS$537,500(2019: Morethan83%ofthosebondholdersre-invested US$600,000).and renewed their commitment to the Company.AsatDecember31,2020,unamortizeddebtThetotalamountraisedwasUS$195,067,an arrangement fees are included in the carrying oversubscriptionofUS$45,067. value. AsatDecember31,2020,unamortizeddebt Theamortizationofdebtarrangementfeesforarrangement fees for the third issued bond is2020ispresentedunderfinancecostintheincludedinthecarryingvalue.Theamortization consolidatedstatementofprofitorloss.ofdebtarrangementfeesfor2020ispresented Revolverunderfinancecostintheconsolidatedstatementofprofitorloss. InMarch2020,StaatsolieobtainedarevolverloanofUSD6,000.ThiswasusedforworkingcapitalTerm loanpurposes. Corporate term loanIn2018,StaatsolieclosedonaUS$625,000termloan,anuncommittedrevolvingloanofUS$35,000andtheoptionforanaccordionof Other Long Term Liabilities(X US$ 1,000) 2020 2019Financialliability-LoanfromPensionFund 26,508 26,508Reserve for committee of sports facilities 2,029 -OtherLongtermliability-provisionforwagetax 1,608 1,46030,14527,968 Loan from Pension Fund paythepensionfundafixedfeeasaguaranteefortherighttorepurchasetheland.ThefeewillbeInNovember2019,Staatsolieenteredinaprivate paid bi-annually.agreementwiththeStaatsoliePensionfund(StichtingPensionfondsvoorwerknemersvan If Staatsolie does not exercise the right to StaatsolieMaatschappijSurinameN.V.)forthe repurchase,thelegaltransfertothePensionfundsaleofaplotoflandknownasBruynzeelterrein, will become effective. including the option to buy back within 5 years from the date of sale at an agreed amount ofUS$26,508.OnanannualbasisStaatsoliewill140 STAATSOLIE 2020 ANNUAL REPORT'