Siemens 2005 Annual Report Download - page 172
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172
As of September 30, 2005, the aggregate amounts of indebtedness maturing during the next
five years and thereafter are as follows (excluding capital leases which are disclosed separately):
Details of the Company’s notes and bonds are as follows:
The Company maintains €2.5 billion of convertible notes through its wholly owned Dutch sub-
sidiary, Siemens Finance B.V., which are fully and unconditionally guaranteed by Siemens AG.
The convertible notes have a 1.375% coupon and are convertible into approximately 44.5 million
shares of Siemens AG at a conversion price of €56.1681 per share, which is subject to change
under certain circumstances. The conversion right is contingently exercisable by the holders
upon the occurrence of one of several conditions, including, upon the Company’s share price
having exceeded 110% of the conversion price on at least 20 trading days in a period of 30 consec-
utive trading days ending on the last trading day of any calendar quarter. This condition was met
in the first quarter of fiscal 2004. The Company may, at any time from June 18, 2007, redeem the
notes outstanding at their principal amount together with interest accrued thereon, if Siemens’
share price exceeds 130% of the conversion price on any 15 of 30 consecutive trading days before
notice of early redemption. Unless previously redeemed, converted or repurchased and cancelled,
the notes mature on June 4, 2010.
Management’s discussion and analysis
Fiscal year
2006 3,910
2007 1,881
2008 1,006
2009 87
2010 2,608
Thereafter 2,590
12,082
September 30, 2005 September 30, 2004
Currency Currency
(notional amount) €* (notional amount) €*
1.0% 2000/2005 EUR exchangeable notes – – – EUR 596 621
5.0% 2001/2006 EUR bonds EUR 1,595 1,625 EUR 1,595 1,655
2.5% 2001/2007 Swiss franc bonds CHF 250 158 CHF 250 165
5.5% 1997/2007 EUR bonds EUR 991 991 EUR 991 998
6% 1998/2008 U.S.$ notes USD 970 865 USD 970 870
1.375% 2003/2010 EUR convertible notes EUR 2,500 2,500 EUR 2,500 2,500
11% 2003/2010 EUR senior notes EUR 74 86 – – –
5.75% 2001/2011 EUR bonds EUR 2,000 2,226 EUR 2,000 2,157
8,451 8,966
* includes adjustments for fair value hedge accounting.