APC 2012 Annual Report Download - page 213

2012 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 211
CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31, 2012
5
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Schneider ElectricSA has issued bonds on different markets:
•in the Unites States, through a private placement offering following
SEC 144A rule, for USD800 million worth of bonds issued in
September2012, at a rate of 2.950%, due in September2022;
•as part of its Euro Medium Term Notes (EMTN) programme,
which bonds are traded on the Luxembourg stock exchange.
Issues that were not yet due as of December31, 2012 are as
follow:
–JPY22.5 billion worth of bonds issued in 2011, comprising
a fi rst JPY12.5 billion tranche at a rate of 0.849% issued
in November and due in November 2016 and a second
JPY10 billion tranche at a rate of 0.84625% issued in
Decemberdue in December2016,
–EUR500million worth of bonds issued in September2011, at
a rate of 3.5%, due in January2019,
–EUR750million worth of bonds issued in July2011, at a rate of
3.75%, due in July2018,
–USD300million worth of bonds issued in July2011, at a rate
variable rate indexed on the three-month USD Libor, due in
July2014,
–EUR300 and EUR200 million worth of bonds issued
successively in Julyand October2010, at a rate of 2.875%,
due on July20, 2016,
–EUR500million worth of bonds issued in July2010, at a rate of
3.625%, due on July20, 2020,
–EUR150million worth of bonds issued in May2009 to top up
the EUR600million twelve-year tranche, due January8, 2015,
at a rate of 5.375% issued on October2007, raising the total
issue to EUR750million,
–EUR250million worth of bonds issued in March2009 to top up
the EUR780million twelve-year tranche, at a rate of 4%, issued
in August2005, raising the total issue to EUR1.03billion,
–EUR750 million worth of bonds issued in January 2009
at a rate of 6.75%, due on July, 16 2013; in July2010, this
borrowing was partially repaid with EUR263million,
–EUR100million worth of bonds issued in July2008 indexed to
the 10-year Constant Maturity Swap (CMS) rate, due July31,
2013,
–EUR12million corresponding to the discounted present value
of future interest payments on a EUR177 million eight year
bond issue (July25, 2008 to July 25, 2016) indexed to the
three month Euribor. The nominal value of the bonds is not
recognized in debt because the bond holder has waived its
right to repayment of the principal in exchange for the transfer,
on a no-recourse basis, of the future cash fl ows corresponding
to the requested refund of a tax receivable,
–EUR180million worth of bonds issued in April2008 to top up
the EUR600million twelve-year tranche, at a rate of 4%, issued
in August2005, raising the total issue to EUR780million,
–EUR600million worth of bonds issued in October2007, at a
rate of 5.375%, due on January8, 2015,
–EUR1billion worth of bonds issued in July2006, comprising a
EUR500million fi ve-year variable rate tranche indexed to the
three month Euribor and a EUR500million 7 1/2-year tranche
at 4.5%. On July17, 2011 the fi rst tranche was reimbursed,
–EUR600million worth of bonds issued in August2005, at a
rate of 4%, due on August2017.
For all those transactions, issue premium and issue costs are
amortized according to the effective interest method.
24.4 – Other information
At December 31, 2012 Schneider Electric had confi rmed credit
lines of EUR2.4billion, all unused.
Loan agreements and committed credit lines do not include any
fi nancial covenants nor credit rating triggers.
Note25 Other non-current liabilities
Dec.31, 2012 Dec.31, 2011
Debt related to2010 acquisitions* 25 25
Electroshield TM Samara acquisition debt 50 50
Debt on Luminous valuation 72 76
Other 48 84
OTHER NON-CURRENT LIABILITIES 195 235
* Acquisition of D5X, Vizelia and Energy Pool.
The debt on Luminous valuation corresponds to the Group commitments on the minority interest (26%) in Luminous.