APC 2004 Annual Report Download - page 94

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92
17.3 - Main borrowings
The main Group borrowings, excluding overdrafts and short-term bank loans, are as follows:
(in millions of euros)
2004 Interest rate Maturity
a) Perpetual bonds
Schneider Electric Industries SAS 73.3 Euribor + 0.7% March 2006
(formerly Merlin Gerin) (1) swapped for fixed
b) Bonds
Schneider Electric SA 2007 450.0 6.1275% fixed October 2007
Schneider Electric SA 2008 750.0 3.875% fixed October 2008
Total 1,200.0
c) Other bank borrowings (all currencies)
Syndicated loan (Lexel) 7.8 Fixed December 2005
Industrial Revenue Bonds (Square D Company) 4.1 3.8% to 5.8% Various 2020
Other loans (less than 20 million per loan) 56.3 Various
Total 68.2
d) Commercial paper (2) 60.4 Fixed Refinanced
overnight
e) Obligations under capital leases 19.4 Various Over periods
ranging from
15 to 20 years
(1) Perpetual bonds correspond to perpetual subordinated bonds redeemable in 15 years issued in 1991 by Merlin Gerin,
for which the subordination clause has been canceled. The bonds were issued in principal amount of
457 million, generating net
proceeds of
345 million. Most of the bonds issued were originally swapped for a fixed rate.
(2) Schneider Electric SA issues commercial paper on behalf of the entire Group. Confirmed lines of credit back the commercial
paper program.
17.2 - Breakdown by currency
(in millions of euros)
Dec. 31, 2004 Dec. 31, 2003
Euro 1,420.3 2,443.2
Japanese yen 25.6 37.8
New Zealand dollar 18.6 26.2
Indian rupee 14.5 11.2
Australian dollar 12.9 0.4
US dollar 11.7 13.9
Danish krona 8.1 82.1
Other 36.7 73.5
Total 1,548.4 2,688.3