4.5. Debt premium


In the light of the change proposed by ANACOM in point 3.2 and taking the calculation made by Mazars into consideration, applicable to the 2016 financial year, a debt premium by 1.58%  was obtained (vide table 7), the detailed calculation of which may be consulted at Mazars’ report,  in annex to this DD.

Table 7 - Debt premium

 

31-12-2014

31-12-2015

2014/2015 Average

EUR EUROPE COMMUNICATIONS BBB+, BBB, BBB- BVAL Yield Curve 10Y

1.32%

1.84%

1.58%

Source: Mazars Report