APC 2015 Annual Report Download - page 233

2015 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC 231
CONSOLIDATED FINANCIAL STATEMENTS AT DECEMBER31,2015
5
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Schneider ElectricSE has issued bonds on different markets:
•in the United 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) program, bonds
traded on the Luxembourg stock exchange. Issues that had not
yet matured as of December31, 2015 are as follow:
–EUR200million and EUR100million worth of Climate bonds
issued successively in October and December2015, at a rate
of 1.841%, maturing in October2025,
–EUR750million worth of bonds issued in March2015, at a rate
of 0.875%, maturing in March2025,
–EUR800million worth of bonds issued in September2015 at a
rate of 1.50%, maturing in September2023,
–EUR600million worth of bonds issued in September2013, at
a rate of 2.5%, maturing in September2021,
–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 2011 and maturing in November 2016 and a
second JPY10billion tranche at a rate of 0.84625% issued in
December2011, maturing in December2016,
–EUR500million worth of bonds issued in September2011, at
a rate of 3.5%, maturing in January2019,
–EUR750million worth of bonds issued in July2011, at a rate of
3.75%, maturing in July2018,
–EUR300 million and EUR200 million worth of bonds issued
successively in Julyand October2010, at a rate of 2.875%,
maturing on July20, 2016,
–EUR500million worth of bonds issued in July2010, at a rate of
3.625%, maturing on July20, 2020,
–EUR0.6million corresponding to the discounted present value
of future interest payments on a EUR177 million eight year
bond issued (on July25, 2008 and maturing on 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,
–EUR250million worth of bonds issued in March2009 to top up
the EUR780million 12 -year tranche, maturing in August2017,
at a rate of 4%, issued in August2005, raising the total issue
to EUR1.03billion,
–EUR180million worth of bonds issued in April2008 to top up
the EUR600million 12 -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 August2005, at a
rate of 4%, maturing in August2017.
For all those transactions, issue premium and issue costs are
amortized according to the effective interest rate method.
24.4– Other information
At December 31, 2015 Schneider Electric had confi rmed credit
lines of EUR2,725million, all unused.
Loan agreements and committed credit lines do not include any
fi nancial covenants or credit rating triggers in case of downgrading
in the c ompany’s long- term debt.
Note25 Other non-current liabilities
Dec.31, 2015 Dec.31, 2014
Debt related toacquisitions -15
Debt on Luminous valuation 125 130
Other 22 39
OTHER NON-CURRENT LIABILITIES 147 184
The debt on Luminous valuation corresponds to the Group commitments on the minority interest (26%) in Luminous.