Siemens 2009 Annual Report Download - page 178

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 Reports Supervisory Board /
Managing Board  Corporate Governance  Management’s discussion and analysis  Consolidated Financial Statements
44 Business and operating environment 63 Fiscal 2009 – Financial summary 66 Results of operations 84 Financial position
▪ In February 2009, we issued €4.0 billion fixed-interest
notes in two tranches comprising €2.0 billion in 4.125%
notes due in February 2013 and €2.0 billion in 5.125% notes
due in February 2017.
▪ In June 2008, we issued a Eurobond with an aggregate
amount of €3.4 billion, comprising three tranches: €1.2 bil-
lion in 5.25% notes due in December 2011; €1.0 billion in
5.375% notes due in June 2014 and €1.2 billion in 5.625%
notes due in June 2018.
▪ In August 2008, we increased two tranches of the Euro-
bond issue by €750 million, including €350 million in 5,25%
notes due in December 2011 and €400 million in 5,625%
notes due in June 2018.
▪ In March 2006, we issued US$1.0 billion notes in two
tranches comprising US$500 million (US$ LIBOR + 0.15%)
due in March 2012 and US$500 million in 5.625% notes due
March 2016.
The nominal amount outstanding under the medium-term
note program was €8.8 billion as of September 30, 2009.
In May 2008, we issued €500 million (EURIBOR + 0.23%) ex-
tendible notes, which were redeemed at face value on the first
maturity date by the end of June 2009.
In September 2006, we issued a subordinated Hybrid bond in
two tranches, a euro tranche of €900 million in 5.25% notes
and a British pound tranche of £750 million in 6.125% notes,
both tranches with a final legal maturity in September 2066.
The Company has a call option after 10 years or thereafter. If
the bond is not called, both tranches will become floating rate
notes (EURIBOR + 1.25% for the euro tranche and GBP LIBOR +
1.25% for the British pound tranche, plus a step-up of 1.0% for
both tranches). The total nominal amount of our Hybrid bond
is €1.7 billion.
In August 2006, we issued notes totaling US$5.0 billion. These
notes were issued in four tranches comprising: US$750 million
in floating rate notes (US$ LIBOR + 0.05%) due August in 2009,
which were redeemed at face value at their maturity date;
US$750 million in 5.5% notes due in February 2012; US$1.750
billion in 5.75% notes due October 2016 and US$1.750 billion in
6.125% notes due in August 2026. Regarding the fixed rate
notes, we may redeem, at any time, all or some of the notes at
the early redemption amount (call) according to the conditions
of the notes. The nominal amount outstanding of these notes
was €2.9 billion as of September 30, 2009.
In June 2001, the Company issued a Eurobond with an aggre-
gate amount of €4.0 billion comprising two tranches, of which
€2.0 billion in 5.75% notes maturing in July 2011 are still out-
standing.
Assignable loans – In June 2008, we issued four series of as-
signable loans (“Schuldscheindarlehen”) with an aggregate
amount of €1.1 billion: €370 million (EURIBOR + 0.55%) and
€113.5 million in 5.283% notes, both maturing in June 2013 and
€283.5 million (EURIBOR + 0.7%) and €333 million in 5.435%
notes, both maturing in June 2015.
Credit facilities – We have three credit facilities at our disposal
for general corporate purposes. Our credit facilities as of Sep-
tember 30, 2009, consist of €6.6 billion in committed lines of
credit. These facilities include
▪ US$5.0 billion undrawn syndicated multi-currency revolv-
ing credit facility expiring March 2012 provided by a syndi-
cate of international banks;
▪ €450 million bilateral undrawn revolving credit facility ex-
piring September 2012 provided by a domestic bank;
▪ US$4.0 billion syndicated multi-currency credit facility ex-
piring August 2013 provided by a syndicate of international
banks. This facility comprises a US$1.0 billion (€0.7 billion)
term loan which was drawn in January 2007 and is due in
August 2013 as well as an undrawn US$3.0 billion revolving
tranche.
As of September 30, 2009, €5.9 billion of these lines of credit
remained unused.