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Hyundai Motor Company Annual Report 2004_102
HYUNDAI MOTOR COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2004 AND 2003
14. LONG-TERM DEBT:
Long-term debt as of December 31, 2004 and 2003 consists of the following:
Description 2004 2004 2003 2004 2003
Debentures 2.60 ~ 9.40 10,028,072 10,543,894 $9,607,273 $10,101,450
Won currency loans
Capital lease 9.68 ~ 11.75 14,772 46,214 14,152 44,275
Reorganization claims (*) 328,136 434,895 314,367 416,646
Composition obligation - - 25,968 - 24,878
General loans 1.00 ~ 8.90 451,022 369,778 432,096 354,261
793,930 876,855 760,615 840,060
Foreign currency loans
Capital lease L+0.98 ~ 4.18 1,643 156,654 1,574 150,080
Reorganization claims (*) 84,994 121,596 81,427 116,494
Other L+1.1 ~ 5.58 773,870 386,451 741,397 370,236
860,507 664,701 824,398 636,810
11,682,509 12,085,450 11,192,286 11,578,320
Less: Current maturities
(3,998,768) (5,653,180) (3,830,971) (5,415,961)
7,683,741 6,432,270 $7,361,315 $6,162,359
(*) 3 year non-guaranteed bond circulating earning rate at the end of every quarter
Debentures as of December 31, 2004 and 2003 consist of the following:
Korean won
(in millions)Interest rate (%)
Translation into
U.S. dollars (Note 2)
(in thousands)
Description Maturity Annual 2004 2003 2004 2003
interest rate (%)
Domestic debentures
Guaranteed debentures 18 Mar, 2005 ~
18 Dec, 2007 3.95 ~ 6.80 220,000 10,000 $210,768 $9,580
Non-guaranteed 29 Oct, 2004 ~
debentures 11 Oct, 2009 2.60 ~ 9.20 8,608,332 8,568,260 8,247,109 8,208,718
Convertible bonds 31 Jan, 2009 4.0 135,120 299,946 129,450 287,360
Overseas debentures 18 Oct, 2004 ~
19 Dec, 2008 5.30 ~ 9.40 1,098,887 1,741,601 1,052,775 1,668,520
10,062,339 10,619,807 9,640,102 10,174,178
Discount on debentures
(34,267) (75,913) (32,829) (72,728)
10,028,072 10,543,894 $9,607,273 $10,101,450
Convertible bonds as of December 31, 2004 and 2003 are all issued by Hyundai Card Co., Ltd., a subsidiary.
Korean won
(in millions)
Translation into
U.S. dollars (Note 2)
(in thousands)
HYUNDAI MOTOR COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2004 AND 2003
12. OTHER FINANCIAL BUSINESS ASSETS:
Other financial business assets as of December 31, 2004 and 2003 consist of the following:
Korean won
(in millions)
Translation into
U. S. dollars (Note 2)
(in thousands)
2004 2003 2004 2003
Finance receivables 4,836,945 5,303,541 $4,633,977 $5,080,993
Lease receivables 1,078,509 680,011 1,033,252 651,476
Card receivables 1,700,092 1,294,349 1,628,753 1,240,036
Other 8,390 9,107 8,038 8,725
7,623,936 7,287,008 $7,304,020 $6,981,230
13. SHORT-TERM BORROWINGS:
Short-term borrowings as of December 31, 2004 and 2003 amount to 10,571,772 million (US$10,128,159 thousand) and
9,457,854 million (US$9,060,983 thousand), respectively, and consist primarily of bank loans and export financing loans with
annual interest rates ranging from 0.25 percent to 3.45 percent.