Merck 2014 Annual Report Download - page 216

211CONSOLIDATED FINANCIAL STATEMENTS → Notes to the Group accounts
The following bonds issued by the Group are currently outstanding:
Issuer Nominal value Maturity
Nominal
interest rate Issue price
Merck Financial Services GmbH, Germany, a subsidiary of
Merck KGaA, Darmstadt, Germany € 1,350million March 2010 – March 2015 3.375 % 99.769
Merck Financial Services GmbH, Germany, a subsidiary of
Merck KGaA, Darmstadt, Germany € 100million December 2009 – December 2015 3.615 %1100.000
EMD Millipore Corporation, USA € 250million June 2006 – June 2016 5.875 % 99.611
Merck Financial Services GmbH, Germany, a subsidiary of
Merck KGaA, Darmstadt, Germany € 60million November 2009 – November 2016 4.000 % 100.000
Merck Financial Services GmbH, Germany, a subsidiary of
Merck KGaA, Darmstadt, Germany € 70million December 2009 – December 2019 4.250 % 97.788
Merck Financial Services GmbH, Germany, a subsidiary of
Merck KGaA, Darmstadt, Germany € 1,350million March 2010 – March 2020 4.500 % 99.582
Merck KGaA, Darmstadt, Germany € 1,000million December 2014 – December 207422.625 %299.274
Merck KGaA, Darmstadt, Germany € 500million December 2014 – December 207433.375 %3100.000
1 Fixed by interest rate swaps.
2 Merck KGaA, Darmstadt, Germany, has the right to prematurely repay this tranche of the hybrid bond issued in December 2014 for the first time in June 2021. The nominal interest rate
is fixed until that date.
3 Merck KGaA, Darmstadt, Germany, has the right to prematurely repay this tranche of the hybrid bond issued in December 2014 for the first time in December 2024. The nominal interest
rate is fixed until that date.
The financial liabilities of the Group are not secured by liens or
similar forms of collateral. The loan agreements do not contain
any financial covenants. The Group’s average borrowing cost as
of the balance sheet date was 3.3 % (2013: 3.9 %).
Finance lease liabilities represented the present value of future
payments arising from finance leases. This item primarily related
to liabilities from finance leases for land and buildings.
Information on liabilities to related parties can be found in
Note [66].
(45) TRADE ACCOUNTS PAYABLE
Trade accounts payable consisted of the following:
€ million Dec. 31, 2014 Dec. 31, 2013
Liabilities to third parties 1,539.3 1,363.9
Liabilities to investments 0.1 0.2
1,539.4 1,364.1
Trade accounts payable included accrued amounts of €831.0 million
(2013: €778.0 million) for outstanding invoices and reductions in
sales revenues.