This item comprised:
| XLS |
|
|
|
|
|
|
|
|
|
€ million |
current |
non-current |
Dec. 31, 2012 |
current |
non-current |
Dec. 31, 2011 |
|
Bonds |
749.1 |
3,145.9 |
3,895.0 |
1,004.7 |
3,893.7 |
4,898.4 |
|
Bank loans and overdrafts |
48.1 |
19.9 |
68.0 |
106.9 |
20.3 |
127.2 |
|
Liabilities to related parties |
233.1 |
– |
233.1 |
199.2 |
– |
199.2 |
|
Loans from third parties and other financial liabilities |
21.5 |
66.6 |
88.1 |
17.2 |
66.0 |
83.2 |
|
Liabilities from derivatives (financial transactions) |
37.1 |
122.4 |
159.5 |
63.9 |
155.6 |
219.5 |
|
Finance leases |
2.5 |
7.3 |
9.8 |
2.5 |
9.3 |
11.8 |
|
|
1,091.4 |
3,362.1 |
4,453.5 |
1,394.4 |
4,144.9 |
5,539.3 |
Bank financing commitments vis-à-vis the Merck Group were as follows:
| XLS |
|
|
|
|
|
| ||
|
€ million |
Bank credit facilities |
Utilization1 |
Interest |
Due | ||
| ||||||
|
Syndicated loan 2007 |
2,000.0 |
– |
variable |
2014 | ||
|
Bilateral credit facilities with banks |
9.4 |
9.4 |
fixed |
2013 | ||
|
Bilateral credit facilities with banks |
1.0 |
1.0 |
fixed |
2014 | ||
|
Bilateral credit facilities with banks |
0.9 |
0.9 |
fixed |
2015 | ||
|
Bilateral credit facilities with banks |
6.3 |
6.3 |
fixed |
2017 | ||
|
Bilateral credit facilities with banks |
11.1 |
11.1 |
fixed |
2018 | ||
|
Bilateral credit facilities with banks |
0.9 |
0.9 |
fixed |
2021 | ||
|
Various bank lines |
308.6 |
38.7 |
fixed / |
< 1 year | ||
|
|
2,338.2 |
68.3 |
|
| ||
The current and non-current liabilities of the Merck Group to banks were denominated in the following currencies:
| XLS |
|
|
|
|
|
in % |
Dec. 31, 2012 |
Dec. 31, 2011 |
|
Euros |
65.6 |
19.0 |
|
Argentinian pesos |
13.3 |
3.1 |
|
Chinese renminbi |
8.3 |
47.0 |
|
Indian rupees |
4.6 |
2.4 |
|
U. S. dollars |
4.0 |
0.8 |
|
Venezuelan bolivars |
– |
18.7 |
|
Other currencies |
4.2 |
9.0 |
|
|
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 |
Issue price | ||
| ||||||
|
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%1 |
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 | ||
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 revolving credit line 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.
In March 2012, a bond issued by Merck Financial Services GmbH, Germany, with a nominal volume of € 500 million was repaid. A further bond issued by Merck Finanz AG, Luxembourg, with a nominal volume of € 500 million was repaid in December 2012.
Finance lease liabilities represented the discounted amount of future payments arising from finance leases. This item primarily related to liabilities from finance leases for buildings. Information on liabilities due to related parties can be found under Note [70].