DHL 2004 Annual Report Download - page 115

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111
Consolidated Financial Statements
Notes
The bonds can be broken down as follows:
Bonds
Nominal
coupon
in %
Issue
volume
Issuer
Carrying
amount
2003
in € m
Fair value
2003
in € m
Carrying
amount
2004
in € m
Fair value
2004
in € m
Bond 2002 / 2007 4.25 € 750 m Deutsche Post Finance B. V. 748 780 652 662
Bond 2002 / 2012 5.125 € 750 m Deutsche Post Finance B. V. 748 806 721 746
Bond 2003 / 2014 4.875 €1,000 m Deutsche Post Finance B. V. 997 1,048 971 996
Bond 2003 1.15 US$ 230 m
DHL Holdings (USA) Inc. via
Kenton County Airport Board 183 183 168 168
Exchangeable bond 2004 / 2007 2.65 €1,082 m
Deutsche Post Finance B. V.,
assumed by Deutsche Post AG 0 0 1,058
1) 1,127
2,676 2,817 3,570 3,699
1) The conversion right is reported under other liabilities
Information on the bond buy-back and the exchangeable bond can
be found in note 4 “Significant transactions”.
The bonds issued by Deutsche Post Finance B. V. are fully guaran-
teed by Deutsche Post AG.
The following table contains the terms and conditions of significant individual contracts reported under amounts due to banks:
Terms and conditions
Coupon
in %
Term
Carrying
amount
2003
in € m
Fair value
2003
in € m
Carrying
amount
2004
in € m
Fair value
2004
in € m
Deutsche Post International B. V., Netherlands
3-month
floater June 2011 121 105 105 95
Deutsche Post International B. V., Netherlands 3.85 Apr. 2006 102 107 102 106
Deutsche Post International B. V., Netherlands 5.19 Mar. 2006 104 104 104 103
Deutsche Post International B. V., Netherlands 5.81 Feb. 2011 82 76 72 66
Deutsche Post International B. V., Netherlands 5.82 Dec. 2005 33 35 17 18
442 427 400 388
€ 400 million of the above-mentioned liabilities due to banks were
collateralized.
€ 397 million of the finance lease liabilities (previous year:
€ 399 million) relates to aircraft leases entered into by DHL
Operations B. V., Netherlands, with Barclays Mercantile Business
Financing Limited, London. The interest rate is 3.745%; the leases
run until 2027 and 2028.
Other financial liabilities are mainly attributable to Deutsche Post
International B. V., Netherlands, in the amount of €178 million
(previous year: € 217 million), and relate to QTE leases, as in the
previous year.
All the financial liabilities relate to the following companies:
Financial liabilities by company
in € m
2003 2004
Deutsche Post Finance B. V., Netherlands 2,493 2,344
Deutsche Post AG 53 1,075
Deutsche Post International B. V., Netherlands 660 578
DHL Operations B. V., Netherlands 792 397
Other Group companies 751 846
4,749 5,240
Additional Information Consolidated Financial Statements