Siemens 2011 Annual Report Download - page 298

6 A. To our shareholders 51 C. Combined management’s discussion and analysis 23 B. Corporate Governance

C) ASSIGNABLE LOANS
In the third quarter of fiscal , the Company raised assign-
able loans. The loans, totaling €. billion and €. billion in
nominal and carrying amount as of September ,  and
, respectively, are for general corporate purposes and
were issued in four tranches: € million floating rate notes
(six months European Interbank Offered Rate + .%) due on
June , ; €. million .% notes due on June ,
; €. million floating rate notes (six months European
Interbank Offered Rate + .%) due on June ,  and €
million .% notes due on June , .
Both floating rate tranches were called in August  and will
be redeemed in December .
D) CREDIT FACILITIES
The credit facilities at September ,  and  consisted of
€. billion and €. billion, respectively, in committed lines of
credit. These include a US$. billion syndicated multi-curren-
cy revolving credit facility expiring March  and a US$.
billion syndicated multi-currency revolving credit facility expir-
ing August . The US$ billion facility comprises a US$.
billion term loan which was drawn in January , bearing in-
terest of .% above three months London Interbank Offered
Rate as well as a US$. billion revolving tranche not yet
drawn. It also includes a third revolving credit facility provided
by a domestic bank with an aggregate amount of € million
expiring in September . As of September ,  and ,
€. billion and €. billion of these lines of credit remained
unused. Commitment fees for the years ended September ,
 and  amount to € million and € million, respective-
ly. The facilities are for general business purposes.
As of September ,  and , the aggregate amounts of
indebtedness maturing during the next five years and there-
after are as follows (excluding finance leases which are dis-
closed separately):
September ,
(in millions of €)  
Within one year 3,644 2,368
After one year but not more than five years 6,896 7,723
More than five years 7,255 9,651
17,795 19,742
Other financial indebtedness
Item Other financial indebtedness includes € million and
€ million as of September ,  and , respectively,
for the Company ’s real estate assets that were sold or trans-
ferred and in which Siemens has retained significant risks and
rewards of ownership, including circumstances in which
Siemens participates directly or indirectly in the change in mar-
ket value of the property. Therefore, these transactions have
been accounted for as financing obligations. These real estate
properties are carried on the Company ’s Consolidated State-
ments of Financial Position and no sale and profit has been rec-
ognized. For the fiscal  real estate transaction see
Note 
Other operating income. As of September ,  and ,
US$ global commercial paper had no balances outstanding.
Obligations under finance leases
As of September ,  and , the finance lease liabilities
are as follows:
September ,  September , 
Minimum
future
lease
payment
obligation
Un-
amortized
interest
expense
Present
value of
minimum
future
lease
payment
obligation
Minimum
future
lease
payment
obligation
Un-
amortized
interest
expense
Present
value of
minimum
future
lease
payment
obligation
(in millions of €)
Due
Within one year 31 15 16 57 8 49
After one year but not more than five years 77 14 63 62 10 52
More than five years 124 58 66 73 3 70
Total 232 87 145 192 21 171
Less: Current portion (16) (49)
129 122