This item comprised:
| XLS |
|
|
|
|
|
|
|
|
|
€ million |
current |
non-current |
Dec. 31, 2011 |
current |
non-current |
Dec. 31, 2010 |
|
Bonds |
1,004.7 |
3,893.7 |
4,898.4 |
25.3 |
4,948.3 |
4,973.6 |
|
Commercial paper |
– |
– |
– |
10.0 |
– |
10.0 |
|
Bank loans and overdrafts |
106.9 |
20.3 |
127.2 |
85.7 |
30.0 |
115.7 |
|
Liabilities to related parties |
199.2 |
– |
199.2 |
190.3 |
– |
190.3 |
|
Loans from third parties and other financial liabilities |
17.2 |
66.0 |
83.2 |
14.3 |
63.8 |
78.1 |
|
Liabilities from derivatives (financial transactions) |
63.9 |
155.6 |
219.5 |
28.7 |
80.0 |
108.7 |
|
Finance leases |
2.5 |
9.3 |
11.8 |
1.8 |
5.3 |
7.1 |
|
|
1,394.4 |
4,144.9 |
5,539.3 |
356.1 |
5,127.4 |
5,483.5 |
Bank financing commitments vis-á-vis the Merck Group were as follows:
| XLS |
|
|
|
|
|
| ||
|
€ million |
Bank credit facilities |
Utilization* as of Dec.31, 2011 |
Interest |
Due | ||
| ||||||
|
Syndicated loan 2007 |
2,000.0 |
– |
variabel |
2014 | ||
|
Bilateral credit facilities with banks |
43.7 |
43.7 |
fix |
2012 | ||
|
Bilateral credit facilities with banks |
7.7 |
7.7 |
fix |
2017 | ||
|
Bilateral credit facilities with banks |
13.1 |
13.1 |
fix |
2018 | ||
|
Various bank lines |
324.7 |
63.2 |
fix / variabel |
< 1 year | ||
|
|
2,389.2 |
127.7 |
|
| ||
The current and non-current liabilities of the Merck Group to banks were denominated in the following currencies:
| XLS |
|
|
|
|
|
in % |
Dec. 31, 2011 |
Dec. 31, 2010 |
|
Euros |
19.0 |
51.7 |
|
U.S. dollars |
0.8 |
1.3 |
|
Yen |
1.2 |
– |
|
Chinese renminbi |
47.0 |
13.4 |
|
Venezuelan bolivar |
18.7 |
– |
|
Other currencies |
13.3 |
33.6 |
|
|
100.0 |
100.0 |
In 2009, Merck created a Debt Issuance Program that forms the contractual basis for issuing bonds with a nominal volume of up to € 5 billion. In 2010, this volume was increased to € 10 billion.
The following bonds were issued by the Merck Group:
| XLS |
|
|
|
|
|
| ||||
| ||||||||
|
Issuer |
Nominal value |
Maturity |
Nominal interest rate |
Issue price | ||||
|
Merck Financial Services GmbH, Germany |
€ 500 million |
March 2010 – March 2012 |
2.125% |
99.775 | ||||
|
Merck Finanz AG, Luxembourg |
€ 500 million |
December 2005 – December 2012 |
*2.317% |
99.716 | ||||
|
Merck Financial Services GmbH, Germany |
€ 750 million |
March 2009 – September 2013 |
4.875% |
99.697 | ||||
|
Merck Financial Services GmbH, Germany |
€ 1,350 million |
March 2010 – March 2015 |
3.375% |
99.769 | ||||
|
Merck Financial Services GmbH, Germany |
€ 100 million |
December 2009 – December 2015 |
**3.615% |
100.000 | ||||
|
Millipore Corporation, USA |
€ 250 million |
June 2006 – June 2016 |
5.875% |
99.611 | ||||
|
Merck Financial Services GmbH, Germany |
€ 60 million |
November 2009 – November 2016 |
4.000% |
100.000 | ||||
|
Merck Financial Services GmbH, Germany |
€ 70 million |
December 2009 – December 2019 |
4.250% |
97.788 | ||||
|
Merck Financial Services GmbH, Germany |
€ 1,350 million |
March 2010 – March 2020 |
4.500% |
99.582 | ||||
Within the scope of the Millipore acquisition, Merck took over a convertible bond with a nominal value of US$ 550 million. In 2010, the majority of investors exercised the conversion right that resulted in the course of the acquisition. Millipore Corporation, USA, repaid the remaining outstanding interests with a nominal volume of US$ 27.2 million in 2011 for an amount of € 20.8 million.
To meet short-term capital requirements, Merck KGaA has a commercial paper program with a volume of € 2 billion, which had not been utilized as of the reporting date.
In addition, a € 2 billion multi-currency term loan and revolving credit facility from fiscal 2007 is available. The loan has a term of seven years and was agreed with an international banking syndicate. This credit line had not been utilized as of the reporting date.
Liabilities from financial leasing represent the discounted amount of future payments arising from finance leases. This item primarily relates to liabilities from finance leases for buildings. Information on liabilities due to related parties can be found in Note [52].