Merck 2010 Annual Report Download - page 179

The current and non-current liabilities of the Merck Group to banks were denominated in the fol-
lowing currencies:
in %
Dec. 31,
2010
Dec. 31,
2009
Euros 30.0 56.0
U.S. dollars 0.1 5.6
Pounds sterling 0.2 0.4
Swiss francs – –
Yen 0.3 –
Other currencies 69.4 38.0
100.0 100.0
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In fiscal 2007, a EUR 2 billion multi-currency term loan and revolving credit facility was agreed.
The loan has a term of seven years and was agreed with an international banking syndicate.
In 2009, Merck set up a debt issuance program that forms the contractual basis for the issue of bonds
with a nominal volume of up to EUR 5 billion. In 2010, this volume was increased to EUR 10 billion.
The following bonds were issued by the Merck Group:
Moreover, the Millipore Corporation, USA, still has convertible bonds with a nominal volume of
USD 27.2 million. The possibility to convert these bonds into shares no longer exists.
The bonds issued by Merck Financial Services GmbH in 2010 serve to finance the acquisition of
Millipore Corporation, USA, and are admitted to trading on the regulated market of the Luxem-
bourg Stock Exchange. In the fourth quarter of 2010, a bond issued by Merck KGaA with a volume
of EUR 500 million matured and was repaid in full.
In order to meet short-term capital requirements, Merck KGaA issued a commercial paper program
with a volume of EUR 2 billion, of which a nomimal amount of EUR 10.0 million had been utilized
as of the reporting date.
Issuer Nominal value
Nominal
interest rateMaturity Issue price
Merck Financial Services GmbH, Germany EUR 500 million March 2010 – March 2012 2.125 % 99.775
Merck Finanz AG, Luxembourg EUR 500 million December 2005 – December 2012 * 2.2 % 99.716
Merck Financial Services GmbH, Germany EUR 750 million March 2009 – September 2013 4.875 % 99.697
Merck Financial Services GmbH, Germany EUR 1,350 million March 2010 – March 2015 3.375 % 99.769
Merck Financial Services GmbH, Germany EUR 100 million December 2009 – December 2015 ** 3.615 % 100.000
Millipore Corporation, USA EUR 250 million June 2006 – June 2016 5.875 % 99.611
Merck Financial Services GmbH, Germany EUR 60 million November 2009 – November 2016 4.000 % 100.000
Merck Financial Services GmbH, Germany EUR 70 million December 2009 – December 2019 4.250 % 97.788
Merck Financial Services GmbH, Germany EUR 1,350 million March 2010 – March 2020 4.500 % 99.582
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Notes
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