APC 2011 Annual Report Download - page 232
Download and view the complete annual report
Please find page 232 of the 2011 APC annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.2011 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC230
COMPANY FINANCIAL STATEMENTS
6NOTES TO THE FINANCIAL STATEMENTS
Schneider ElectricSA has made a series of bond issues as part of
its Euro Medium Term Notes (“EMTN”) program over the past few
years. The issues that had not matured as of December31, 2011
were as follows:
•JPY12 and JPY10billion for a total amount of EUR225million
worth of respectively 0.849% and 0.84625% bonds issued in
Novemberand December2011 and maturing on November18,
2016 and December8, 2016;
•EUR500million worth of 3.50% bonds issued in September2011
and maturing on January22, 2019;
•EUR750million worth of 3.75% bonds issued in July2011 and
maturing on July12, 2018;
•USD300 million for a total amount of EUR232 million worth of
bonds issued in July 2011 at a fl oating rate and maturing on
July1, 2014;
•EUR300 and EUR200million worth of 2.875% bonds successively
issued in Julyand October2010 and maturing on July20, 2016;
•EUR500million worth of 3.625% bonds issued in July2010 and
maturing on July20, 2020;
•EUR150million worth of bonds issued in May2009 to top up
the EUR600million tranche at 5.375% maturing on January8,
2015 and issued in October2007, thereby raising the total issue
to EUR750million;
•EUR250million worth of bonds issued in March2009 to top up
the EUR780million 12year tranche at 4% issued in August2005,
thereby raising the total issue to EUR1.03billion;
•EUR750million worth of 6.75% bonds issued in January2009
and maturing on July16, 2013. In July2010, this bond was partly
redeemed to the amount of EUR263million, reducing the bond
to EUR487million;
•EUR100million worth of bonds issued in July2008 at a fl oating
rate indexed to the 10y ear CMS (Constant Maturity Swap) and
maturing on July31, 2013;
•EUR177million worth of fl oating-rate bonds issued in July2008
and maturing on July25, 2016;
•EUR180million worth of bonds issued in April2008 to top up the
EUR600million 12year tranche at 4% issued in August2005,
thereby raising the total tranche to EUR780million;
•EUR600million worth of 5.375% bonds issued in October2007
and maturing on January8, 2015;
•EUR1 billion worth of bonds issued in July 2006, comprising
a EUR500 million fi ve-year fl oating rate tranche and a
EUR500million 71/2-year4.5% tranche;
•EUR600million worth of 4% bonds issued in August2005 and
maturing in August2017;
These bonds are traded on the Luxembourg stock market. The
issue premiums and issue costs are amortised in line with the
effective interest method.
Lastly, the Group redeemed EUR500 million worth of July 2006
bonds at maturity date on July18, 2011.
Note10
Other borrowings
Other borrowings at December31, 2011 included accrued interest
on bonds and other debt issued by the Company. Following the
issue of EUR1.7billion worth of bonds in 2011, accrued interest
amounted to EUR131million, compared to EUR113million at end
of 2010.
Finally, this line item includes a EUR397 million “Schuldschein”
loan granted by international banks in fi rst-half 2008, comprising
four tranches: a EUR129million sevan-year fl oating-rate tranche,
a EUR55million seven-year fi xed-rate tranche, a EUR195million
fi ve- year fl oating-rate tranche and a EUR18 million fi ve-year
fi xed- rate tranche.
Note11
Interest-bearing liabilities
Interest-bearing liabilities Dec.31, 2010 Increase Decrease Dec.31, 2011
Commercial paper - 3,101,000 (2,911,000) 190,000
Overdrafts 1 61 - 62
Other 2 - - 2
NET 3 3,101,061 (2,911,000) 190,064
At December 31, 2011, Interest-bearing liabilities are mainly composed of a EUR190million of commercial paper to be redeemed in
January2012.