APC 2013 Annual Report Download - page 232

5CONSOLIDATED FINANCIALSTATEMENTS ATDECEMBER 31, 2013
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Schneider ElectricSA has issued bonds on different markets: EUR12million corresponding to the discounted present
–
value of future interest payments on a EUR177million
in the United States, through a private placement offering
leightyear bond issue (July25, 2008 to July25, 2016)
following SEC 144A rule, for USD800million worth of bonds
indexed to the three month Euribor. The nominal value of
issued in September2012, at a rate of 2.950%, due in
the bonds is not recognized in debt because the bond
September2022;
holder has waived its right to repayment of the principal in
as part of its Euro Medium Term Notes (EMTN) program, which
lexchange for the transfer, on a no-recourse basis, of the
bonds are traded on the Luxembourg stock exchange. Issues
future cash flows corresponding to the requested refund of
that were not yet due as of December31, 2013 are as follow:
a tax receivable,
EUR600million worth of bonds issued in September2013,
–EUR180million worth of bonds issued in April2008 to top
–
at a rate of 2.5%, due in September2021, up the EUR600million twelve-year tranche, at a rate of 4%,
JPY22.5billion worth of bonds issued in2011, comprising
–issued in August2005, raising the total issue to
a first JPY12.5billion tranche at a rate of 0.849% issued in EUR780million,
Novemberand due in November2016 and a second EUR600million worth of bonds issued in October2007, at
–
JPY10billion tranche at a rate of 0.84625% issued in a rate of 5.375%, due on January8, 2015,
Decemberdue in December2016, EUR1billion worth of bonds issued in July2006,
–
EUR500million worth of bonds issued in September2011,
–comprising a EUR500million five-year variable rate tranche
at a rate of 3.5%, due in January2019, indexed to the three month Euribor and a EUR500million 7
EUR750million worth of bonds issued in July2011, at a
–1/2-year tranche at 4.5%. On July17, 2011 the first
rate of 3.75%, due in July2018, tranche was reimbursed,
USD300million worth of bonds issued in July2011, at a
–EUR600million worth of bonds issued in August2005, at a
–
rate variable rate indexed on the three-month USD Libor, rate of 4%, due on August2017.
due in July2014,
For all those transactions, issue premium and issue costs are
EUR300 and EUR200million worth of bonds issued
–
amortized according to the effective interest method.
successively in Julyand October2010, at a rate of
24.4 – Other information
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,
At December31, 2013 Schneider Electric had confirmed credit
EUR150million worth of bonds issued in May2009 to top
–
lines of EUR2,650million, all unused. This amount excludes the
up the EUR600million twelve-year tranche, due January8,
GBP1.5billion certain funds bridge facility agreement set up for
2015, at a rate of 5.375% issued on October2007, raising
the acquisition of Invensys.
the total issue to EUR750million,
Loan agreements and committed credit lines do not include any
EUR250million worth of bonds issued in March2009 to
–
financial covenants or credit rating triggers in case of downgrading
top up the EUR780million twelve-year tranche, at a rate of
in Company’s long term debt.
4%, issued in August2005, raising the total issue to
EUR1.03billion,
Other non-current liabilities Note25
Dec.31, 2013 Dec.31, 2012
Debt related toacquisitions 15 25
Electroshield – TM Samara acquisition debt -50
Debt on Luminous valuation 92 72
Other 31 48
OTHER NON-CURRENT LIABILITIES 138 195
The debt on Luminous valuation corresponds to the Group commitments on the minority interest (26%) in Luminous.
230 2013 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC