D-Link 2004 Annual Report Download - page 43

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15
D-LINK CORPORATION AND SUBSIDIARIES
Notes to Consolidated Financial Statements
(Continued)
10. Short-term Borrowings
Short-term borrowings consisted of the following as of December 31, 2003 and 2004:
December 31,
2003 2004
Amount Rate % Amount Rate %
Usance letters of credit $
465,460
1.74%~
2.00% 1,285,263
1.68%~
3.24%
Unsecured borrowings under
lines of credit
809,859 0.796%~
2.005%
70,000 1.25%~
1.35%
Secured loans 1,312,279
1.41%~
4.5%
3,287,604 0.79%~
4.25%
$ 2,587,598 4,642,867
Unused credit facilities $ 2,121,456 5,630,638
11. Bonds Payable
The components of bonds payable as of December 31, 2003 and 2004, are summarized below:
December 31,
2003 2004
Bonds payable $ 1,763,867 31,750
Provision for early redemption 236,127 -
Less: current portion of bonds payable (1,999,994) (31,750)
$ - -
A summary of the major terms of the bonds payable outstanding as of December 31, 2003 and 2004,
is as follows:
(1) The second issuance of domestic convertible bonds
˙ Par value: $1.5 billion.
˙ Issue date: September 28, 1999.
˙ Issue price: at par value.
˙ Duration: seven-years, maturing on September 27, 2006.
˙ Coupon rate: 0%
˙ Conversion objective: D-Link’ s common stock.
˙ Conversion price: