APC 2009 Annual Report Download - page 199

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2009 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 197
COMPANY FINANCIAL STATEMENTS
6
NOTES TO THE FINANCIAL STATEMENTS
Note18
Off-balance sheet commitments
18.1 - Partnership obligations
Share of the liabilities of “SC” non-trading companies attributable
to Schneider Electric SA as partner of the companies concerned:
Not material.
Share of the liabilities of “SNC” fl ow-through entities attributable
to Schneider Electric SA as partner of the entities concerned: Not
material.
18.2 - Guarantees given and received
Commitments given:
Counterguarantees of bank guarantees: None
Other guarantees given: EUR 5million
Commitments received:
Bank counterguarantees: None
Hedging transactions are carried out by the manager of the Group cash pool, Boissière Finance, a wholly-owned subsidiary of Schneider
Electric Industries SAS, which in turn is wholly-owned by Schneider Electric SA. However, Schneider Electric SA set up interest rate swaps
during the year to hedge bond issues, as follows:
Underlying Hedging instrument
((in thousands of euros) )
Type Face value Maturity Impact on net fi nancial income Market value
Bond issue €500,000,000 July18, 2011 (12,561) (20,975)
Schuldschein €195,000,000 May21, 2013 (5,847) (16,055)
Schuldschein €129,000,000 May21, 2015 (3,811) (12,630)
Private placement (CMS) €100,000,000 July31, 2013 (3,320) (9,290)
Private placement (CMS) €100,000,000 July31, 2013 2,767 7,035
Bond issue €475,000,000 July16, 2013 8,300 11,509
TOTAL (14,472) (40,406)
Note19
Other information
18.3 - Off-balance sheet instruments
19.1 - Number of employees
At December31, 2009, the Company had two employees.
19.2 - Consolidated financial statements
Schneider Electric SA is the parent company of the Group and
therefore publishes the consolidated fi nancial statements of the
Schneider Electric Group.