Mondelez 2013 Annual Report Download - page 59

Table of Contents
Some of our international subsidiaries maintain primarily uncommitted credit lines to meet short-term working capital needs.
Collectively, these credit lines amounted to $2.4 billion at December 31, 2013 and 2012. Borrowings on these lines amounted to
$226 million at December 31, 2013 and $274 million at December 31, 2012.
Long-term Debt:
Our total debt was $17.1 billion at December 31, 2013 and $19.4 billion at December 31, 2012. Our debt-to-capitalization ratio was
0.35 at December 31, 2013 and 0.38 at December 31, 2012. At December 31, 2013, the weighted-average term of our outstanding
long-term debt was 9.8 years.
On February 6, 2014, we completed a cash tender offer and retired $1.56 billion of our long-term U.S. dollar debt consisting of:
We financed the repurchase of these notes, including the payment of accrued interest and other costs incurred, from net proceeds
received from the $3.0 billion notes issuance on January 16, 2014. In connection with retiring this debt, during the first quarter of
2014, we recorded a $492 million loss on extinguishment of debt within interest expense related to the amount we paid to retire the
debt in excess of its carrying value and from recognizing unamortized discounts and deferred financing costs in earnings at the time
of the debt extinguishment. We also recognized $2.5 million in interest expense related to interest rate cash flow hedges which
were deferred in accumulated other comprehensive losses and recognized into earnings over the life of the debt. Upon
extinguishing the debt, the deferred cash flow hedge amounts were recorded in earnings.
On January 16, 2014, we issued $3.0 billion of U.S. dollar notes, consisting of:
We received net proceeds of $2,982 million that were used in part to fund the February 2014 tender offer and for other general
corporate purposes. We recorded approximately $18 million of discounts and deferred financing costs, which will be amortized into
interest expense over the life of the notes.
On December 18, 2013, we completed a cash tender offer and retired $3.4 billion of our long-term U.S. dollar debt consisting of:
We financed the repurchase of these notes, including the payment of accrued interest and other costs, with net proceeds received
from the € 2.4 billion notes issuance on December 11, 2013, cash on hand and commercial paper issuances. We recorded a $608
million loss on extinguishment of debt within interest expense related to the amount we paid to retire the debt in excess of its
carrying value and from recognizing unamortized discounts and deferred financing costs in earnings at the time of the debt
extinguishment. We also recognized $4 million in interest expense related to interest rate cash flow hedges which were deferred in
accumulated other comprehensive losses and recognized into earnings over the life of the debt. Upon extinguishing the debt, the
deferred cash flow hedge amounts were recorded in earnings.
On December 11, 2013, we issued €
2.4 billion of Euro notes, or approximately $3.3 billion in U.S. dollars as of December 31, 2013,
consisting of:
We received net proceeds of € 2,381 million, or $3,239 million in U.S. dollars, on December 11, 2013, that were used to partially
fund the December 2013 tender offer. We also recorded approximately $27 million of discounts and deferred financing costs, which
will be amortized into interest expense over the life of the notes.
On October 1, 2013, $1 billion of our 5.125% U.S. dollar notes and $800 million of our 5.250% U.S. dollar notes matured. The notes
and accrued interest to date were paid with cash on hand and the issuance of commercial paper.
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•
$
393 million of our 7.000% Notes due in August 2037
•
$
382 million of our 6.875% Notes due in February 2038
•
$
250 million of our 6.875% Notes due in January 2039
•
$
535 million of our 6.500% Notes due in February 2040
• $400 million of floating rate notes which bear interest at a rate equal to three-month LIBOR plus 0.52% and mature on
February 1, 2019
• $850 million of 2.250% fixed rate notes which mature on February 1, 2019
• $1,750 million of 4.000% fixed rate notes which mature on February 1, 2024
•
$
910 million of our 6.500% Notes due in August 2017
•
$
729 million of our 6.125% Notes due in February 2018
•
$
334 million of our 6.125% Notes due in August 2018
•
$
1,467 million of our 5.375% Notes due in February 2020
•
€
400 million (or $550 million) of floating rate notes which bear interest at a rate equal to three-month EURIBOR plus
0.50% and mature on June 11, 2015
•
€
750 million (or $1,031 million) of 1.125% fixed rate notes which mature on January 26, 2017
•
€
1,250 million (or $1,718 million) of 2.375% fixed rate notes which mature on January 26, 2021