Chrysler 2011 Annual Report Download - page 213

Consolidated
Financial
Statements
at 31 December
2011
Notes
212
Bonds
The bond issues outstanding at 31 December 2011 are as follows:
Currency
Face value of
outstanding bonds
(in million) Coupon Maturity
Outstanding
amount
(€ million)
Global Medium Term Notes:
Fiat Finance and Trade Ltd S.A. (1) EUR 1,250 9.000% 30 July 2012 1,250
Fiat Finance and Trade Ltd S.A. (1) EUR 200 5.750% 18 December 2012 200
Fiat Finance and Trade Ltd S.A. (1) EUR 900 6.125% 8 July 2014 900
Fiat Finance and Trade Ltd S.A. (1) EUR 1,250 7.625% 15 September 2014 1,250
Fiat Finance and Trade Ltd S.A. (1) EUR 1,500 6.875% 13 February 2015 1,500
Fiat Finance and Trade Ltd S.A. (1) EUR 1,000 6.375% 1 April 2016 1,000
Fiat Finance North America Inc. (1) EUR 1,000 5.625% 12 June 2017 1,000
Fiat Finance and Trade Ltd S.A. (1) EUR 600 7.375% 9 July 2018 600
Other (2) 7
Total Global Medium Term Notes 7,707
Other bonds:
Fiat Finance and Trade Ltd S.A. (1) EUR 1,000 6.625% 15 February 2013 1,000
Chrysler Group LLC (Secured Senior Notes) (3) USD 1,500 8.000% 15 June 2019 1,159
Chrysler Group LLC (Secured Senior Notes) (3) USD 1,700 8.250% 15 June 2021 1,314
Total Other bonds 3,473
Hedging effect and amortised cost valuation 504
Total Bonds 11,684
(1) Bond for which a listing on the Irish Stock Exchange was obtained.
(2) Bonds with amounts outstanding equal to or less than the equivalent of €50 million.
(3) The Secured Senior Notes were issued at par on 24 May 2011 and initially sold in a private placement to qualified institutional buyers and non-US persons as defined by US Securities
Act. On 29 December 2011, in accordance with the indenture, Chrysler commenced an offer to exchange the Secured Senior Notes outstanding for notes having substantially identical
terms as those originally issued and the same principal amount but will not contain restrictions on transfer. The offer to exchange the Secured Senior Notes expired on 1 February 2012.
Substantially all of the Notes were tendered for New Secured Senior Notes.
Changes in bonds during 2011 are mainly due to:
the repayment on maturity of bonds having a nominal value of €1,300 million and of €1,000 million issued by Fiat Finance and Trade Ltd S.A. in 2001
and 2006 respectively as part of the Global Medium Term Notes Programme;
the repayment on maturity of a zero coupon bond having a nominal value of €25 million issued by Fiat Finance and Trade Ltd S.A. in 2001 as part of the
Global Medium Term Notes;
the repayment on maturity of the last annual instalment of €123 million nominal of the Fiat Step-Up Amortizing bond issued by Fiat Finance and Trade
Ltd S.A. in 2001;
the issue by Fiat Finance and Trade Ltd. S.A. as part of the Global Medium Term Notes Programme of a note, having a principal of €1,000 million, due
in April 2016 and bearing fixed interest of 6.375%; a €900 million note due in July 2014 bearing fixed interest of 6.125% and a €600 million note due in
July 2018 bearing fixed interest of 7.375%. All these notes were issued at par;
the inclusion of Chrysler in the scope of consolidation, which resulted in the recognition of the notes issued by Chrysler (the “Chrysler Secured Senior
Notes”) having a nominal value of $1,500 and $1,700 million due in 2019 and in 2021 respectively.