Siemens 2013 Annual Report Download - page 200

92 A. To our Shareholders
117 B. Corporate Governance 155 C. Combined Management Report
156 C. Business and economic environment
173 C. Financial performance system
179 C. Results of operations
192 C. Financial position
204 C. Net assets position
207 C. Overall assessment of the economic position
209 C. Subsequent events
210 C. Sustainability
227 C. Report on expected developments and
associated material opportunities and risks

In August , we issued US$. billion medium-term notes
in four tranches, comprising: US$ million in floating-rate
instruments (three months LIBOR + .% p.a.) matured and
redeemed at face value in August , US$ million in .%
p.a. fixed-rate instruments matured and redeemed at face val-
ue in February , US$. billion in .% p.a. fixed-rate
instruments due in October  and US$. billion in
.% p.a. fixed-rate instruments due in August . We may
redeem, at any time, all or some of the fixed-rate instruments
at the early redemption amount (call) according to the condi-
tions of the instruments. The nominal amount of these US
medium term notes outstanding was €. billion as of Septem-
ber , .
Assignable and term loans
> In March , we signed and fully drew two bilateral
US$ million floating-rate term loans (three months
LIBOR + .% p.a.). Both loans are due in March  and
include options for two one-year extensions. The nominal
amount outstanding was €. billion as of September ,
.
> In June , we issued four tranches of assignable loans
with an aggregate amount of €. billion: € million in
floating-rate instruments (six months European Interbank
Offered Rate (EURIBOR) + .% p.a.) and €. million in
.% p.a. fixed-rate instruments, both matured in June
 and €. million in floating-rate instruments (six
months EURIBOR + .% p.a.) and € million in .%
p.a. fixed-rate instruments, both maturing in June .
Both floating-rate instruments were called in August 
and redeemed at face value in December . In June ,
we redeemed at face value the €. million in .% p.a.
fixed-rate instruments.
Credit facilities – We have three credit facilities at our dis-
posal for general corporate purposes. Our credit facilities as of
September , , consisted of €. billion in committed,
unused lines of credit. These facilities included:
> US$. billion undrawn syndicated multi-currency revolv-
ing credit facility provided by a syndicate of international
banks with a five year tenor and two one-year extension
options, which was signed in September . It replaced a
US$. billion syndicated multi-currency credit facility
which
expired in August . The US$. billion facility
comprised a US$. billion floating-rate term loan (three
months LIBOR + .% p.a.) which was drawn in January
 and redeemed at face value in August  as well
as an undrawn US$. billion revolving tranche.
> €. billion undrawn syndicated multi-currency revolving
credit facility provided by a syndicate of international banks
with a five year tenor and two one-year extension options,
which was signed in April . In February , we ex-
tended this facility by one year, until April . One one-
year extension option is still remaining.
> € million bilateral undrawn revolving credit facility pro-
vided by a domestic bank expired in September . This
credit facility has been extended to September .
The maturity profile of the loans, notes and bonds described
above is presented below:
As mentioned above, we maintain two lines of credit, in the
amounts of €. billion and US$. billion, respectively.
These two lines of credit provide their lenders with a right of
termination in the event that () Siemens AG becomes a sub-
sidiary of another company or () a person or a group of per-
sons acting in concert acquires control over Siemens AG by
being able to exercise decisive influence over its activities
(Art.  () of Council Regulation (EC)  / ). In addition,
Siemens AG has a bilateral credit line at its disposal in the
amount of € million as mentioned above which may be
terminated by the lender if major changes in Siemens AG’s
corporate legal situation occur that jeopardize the orderly
repayment of the credit.
Loans, notes and bonds maturity profile
(nominal amounts outstanding in billions of €)
1 The maturity of the hybrid bond depends on the exercise of a call option:
the bond is callable by us in September  and thereafter, with a final legal
maturity ending in September .
2 We may redeem, at any time, all or some of US$-notes, issued in August
, at the early redemption amount (call) according to the conditions of
the notes.
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1.4
2.2
4.42
2.7
0.3
1.4 1.3 1.3
0.4
1.1 0.8
1.32
1.81
1.81
0.4