ARCHIVES HISTORIQUES
DELACOMMISSION
COLLECTION RELIEE DES
DOCUMENTS "COM"
COM (77)75
Vol.1977/9003

Disclaimer
Conformément aurèglement(CEE,Euratom)n°354/83duConseildu1erfévrier1983
concernantl'ouvertureaupublicdesarchiveshistoriquesdelaCommunauté économique
européenneetdelaCommunautéeuropéennedel'énergieatomique(JOL43du15.2.1983,
p.1),telquemodifiéparlerèglement(CE,Euratom)n°1700/2003du22septembre2003
(JOL243du27.9.2003,p.1),cedossierestouvertaupublic.Lecaséchéant,lesdocuments
classifiésprésentsdanscedossierontétédéclassifiésconformément àl'article5dudit
règlement.
InaccordancewithCouncilRegulation(EEC,Euratom)No354/83of1February1983
concerningtheopeningtothepublicofthehistoricalarchivesoftheEuropeanEconomic
CommunityandtheEuropeanAtomicEnergyCommunity(OJL43,15.2.1983,p.1),as
amendedbyRegulation(EC,Euratom)No1700/2003of22September2003(OJL243,
27.9.2003,p.1),thisfileisopentothepublic.Wherenecessary,classifieddocumentsinthis
filehavebeendeclassified inconformitywithArticle5oftheaforementioned regulation.
InÜbereinstimmung mitderVerordnung(EWG,Euratom)Nr.354/83desRatesvom1.
Februar1983überdieFreigabederhistorischen ArchivederEuropäischen
Wirtschaftsgemeinschaft undderEuropäischen Atomgemeinschaft (ABI.L43vom15.2.1983,
S.1),geändertdurchdieVerordnung(EG,Euratom)Nr.1700/2003vom22.September2003
(ABI.L243vom27.9.2003,S.1),istdieseDateiderÖffentlichkeitzugänglich.Soweit
erforderlich,wurdendieVerschlusssachen indieserDateiinÜbereinstimmung mitArtikel5
dergenanntenVerordnungfreigegeben.

COM(77)75 final
Bruxelles ,le 9March 1977
COMMISSION
DES
COMMUNAUTES EUROPEENNES
Secrétariat général
COMMUNITY LOAN :FUNDING OF AUSSim MILLION TRANCHE
OFTHEVARIABLE INTEREST RATE ROLL-OVER
CREDITVARIABLE
<&*■
(submitted bythe Commission tothe Council )
 

11/155/77-E
Proposalfora
COUNCILDECISION
concerningtheconversionofatrancheofaCommunity
variableinterestrateloanintoafixedinterestrateloan
THECOUNCILOFTHEEUROPEAN COMMUNITIES-% .
HavingTOgardtotheTreatyestablishing theEuropeanEconomicCommunity,
HavingregardtoCouncilRegulation (EEC)N°397/75of17February1975
(1>concerning Communityloans,andinparticularthesecondparagraphof
Article2,andArt\flie3thereof.
HavingregardtotheprGjfj^salfromtheCommission,whichforthispurposeconsultedtheMonetaryCon^fittee,
Whereas,byCouncilDecision76/322/EECof15March1976concerning a
(2)
CommunityloaninfavouroftheIti^anRepublicandofIreland,the
Commissionhasbeenauthorizedtocom&ude,onbehalfoftheCommunity,a
seriesofborrowingoperationswhichfor^Q^packageincluding,inparticular,avariableinterestrateloanofUSt300^folionforfiveyearsfroma
syndicateofbanks,asprovidedforbyArticle1(4);whereasthisborrowing
hasbeenmade;
WhereasitisintheinterestsofboththeCommunitySraltheMemberStates
benefitingfromthesaidDecisiontochangetheCommunit^5£pans fromvariable
tofixedratesofinterest; ty*
WhereastheCouncilhas,therefore,authorizedtheCommissiontoinitiate
negotiationstothisend; ^
Whereasthesenegotiationshavemadepossiblethefirstloanfundingo^<ation
ofUSt100millionwhichwasthesubjectofCouncilDecision76/771/EEC^
1)0JN°L46,20.2.1975,p.1
2)0JN°L77,24.3.1976,p.12
>

20September 1976 whereas afurther operation ,also for anamount ofUS
t100million ,would seem possible inthe form ofafixed interest rate bank
loan;
Whereas thefinancial terms ofthe loan toIreland andtotheItalian Republic
must,therefore ,bealtered ,
HAS ADOPTED THIS DECISION :
I ARTICLE 1
TheVfojimission shall beauthorized toexercise theright toprepay onetranche
ofUSW^po million ofthevariable interest rate bankloanreferred toinArticle 1^(>ofDecision 76/322/EEC,andtotakeallnecessary measures to
that end.
ty .ARTICLE 2
TheCommission shall beaqj^horized totakeallactions andexecute alldec–-.en
necessary ,proper ordesirable toconclude ,onbehalf ofthe Community ,
agreement for aloan denominated inUSdollars with asyndicate ofbanks ,
onthefollowing major terms A,X
Formofloan .: asingle ,overall loancontract%
Total amount : US S100million
Rédemption : inthree tranche«£
USt25million afvaj' three and ahal*ear
USt45million afteW^our and ahalf ..-ars %£oui
US£30million after vw,e and ahalf years%
Payment ofinterest : annually
Leading bank : Algemene Bank Nederland%
Therate ofinterest shall befixed byagreement between the Commission ,or
such agents asitmaydesignate ,andthe banks .
•.i••
(3)OJ.N°L265,29.9.1976 ,p.27

ARTICLE3
TheCommissionshallbeauthorizedtoconcludethenecessaryagreements c.~
behalfoftheCommunity,withIrelandandtheItalianRepublic,
-forrepaymentbytheseMemberStatesoftheirportionoftheproceedsof
thevariableinterestratebankloantoberepaidbytheCommunity,and
I
-tolendIrelandandtheItalianRepublicrespectively three-thirteenths
ar^j^en-thirteenths oftheproceedsoftheborrowingoperationcarriedcut
ina<$j^rdancewithArticle2,andinthesamecurrenciesandonthesare
termsa^Skhesaidoperation.g^aancewixn«rticieta^&hesaidoperation.
ARTICLE4
CouncilDecisions76/*^/EE-C(1)and76/324/EEC(2)of15March1976fixing
theeconomicpolicyconc^i^pnstobeobservedbyIrelandandbytheItalian
Republicshallremaininforce.
ARTICLE56.%%
* TiThefinancialoperationsreferredtoin^j^isDecisionshallbecarriedout
bytheEuropeanMonetaryCo-operation Funcre^?
■ARTICLE6
V
ThisDecisionisaddressedtotheMemberStates.fy,%•%
DoneatBrussels.
FortheCouncil\TkaDi*aci/^ûr\f VV ThePresident%
(1)OJN°L77/24.3.1976,p.15
(2)OJN°L77,24.3.1976,p.16