Landeskreditbank Baden-WÃ¼rttemberg - L-Bank

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For more detailed information regarding Baden-Württemberg’s debt and guaranties, see the tables in “Debt Record.” Debt Service The following table sets forth the projected debt service requirements for each of the years indicated in respect of all of the direct debt of Baden-Württemberg outstanding at December 31 of each of the years indicated: 2008 2007 2006 2005 (in millions of EUR) Debt Service Requirements ........................................... 8,473 7,847 7,516 7,172 Source: State Ministry of Finance, Department 2, Team 26. 59
DEBT RECORD Since its formation in 1952, Baden-Württemberg has always paid promptly when due the full amount of the principal of and interest on its indebtedness. Debt Direct Debt of Baden-Württemberg as of December 31, 2004(1) Interest rate (%) Date of issue Maturity (in millions of EUR) Principal Amount Outstanding Bonds and Government bonds ................................... (1.) 6.20% of 1993 ............................................. 6.20 1993 2013 255.6 (2.) 6.50% of 1993 ............................................. 6.50 1993 2024 43.5 (3.) 6.50% of 1995 ............................................. 6.50 1995 2005 255.6 (4.) 6.00% of 1996 ............................................. 6.00 1996 2006 255.6 (5.) 6.50% of 1996 ............................................. 6.50 1996 2006 255.6 (6.) 6.50% of 1996 ............................................. 6.50 1996 2006 255.6 (7.) 6.25/7.75% of 1996 ......................................... 6.25/7.75 1996 2026 127.8 (8.) 6.125% of 1996 ............................................ 6.125 1996 2006 306.8 (9.) 6.00/7.625% of 1996 ........................................ 6.00/7.625 1996 2027 153.4 (10.) 6.75% of 1996 ............................................ 6.75 1996 2026 51.1 (11.) 5.75% of 1998 ............................................ 5.75 1998 2028 511.3 (12.) 4.75% of 1998 ............................................ 4.75 1998 2008 383.5 (13.) 5.50% of 2000 ............................................ 5.50 2000 2008 50.0 (14.) 6.90% of 2000 (HKD500 million) (2) ........................... 6.90 2000 2005 75.0 (15.) 2.03% of 2001 (JPY3.0 billion) (3) ............................. 2.03 2001 2016 27.3 (16.) 3-M-GBPLibor–0.205% of 2002 (100 Mio.GBP) (4) ............... 3-M-GBP Libor-0.205% 2002 2005 161.3 (17.) 4.50% of 2002 ............................................ 4.50 2002 2005 750.0 (18.) 4.75% of 2002 ............................................ 4.75 2002 2008 500.0 (19.) 4.78% of 2002 ............................................ 4.78 2002 2008 100.0 (20.) 2.75% of 2002 (600 Mio CHF) (5) .............................. 2.75 2002 2007 408.9 (21.) 3.25% of 2003 ............................................ 3.25 2003 2008 1,500.0 (22.) 3.50% of 2003 ............................................ 3.50 2003 2010 1,000.0 (23.) 3.38% of 2004 ............................................ 3.38 2004 2009 1,250.0 Total bonds and government bonds .............................. 8,678.1 (6) Other borrowings (7) ............................................. 28,875.6 (6) Baden-Württemberg’s total direct debt (1) ......................... 37,553.6 (6) (1) Does not include liabilities to the public sector. (2) This debt is carried at a value of EUR 75 million, which expresses a notional Euro/Hong Kong dollar exchange rate of EUR 1.00 = HKD 6.66667. (3) This debt is carried at a value of EUR 27.3 million, which expresses a notional Euro/Japanese yen exchange rate of EUR 1.00 = JPY109.89011. (4) This debt is carried at a value of EUR 161.3 million, which expresses a notional Euro/pound Sterling exchange rate of EUR 1.00 = GBP0.61996. (5) This debt is carried at a value of EUR 408.9 million, which expresses a notional Euro/Swiss Francs exchange rate of EUR 1.00 = CHF1.46735. (6) The total shown here is the rounded exact amount. (7) Medium- and long-term loans evidenced by promissory notes placed with investors (Schuldscheindarlehen) and credit line agreements with a remaining term of up to approximately 35 years (2038). The following table presents a maturity break down of these borrowings: 60
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INTERNATIONAL PROSPECTUS SUPPLEMENT
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ISSUER Landeskreditbank Baden-Würt
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TABLE OF CONTENTS Use of Proceeds .
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EXCHANGE RATE INFORMATION The follo
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Maturity, Repurchase Maturity. The
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the rules of such stock exchange pe
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THE CLEARING SYSTEMS DTC DTC is a l
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Cross-market transfers between pers
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For the purposes of this provision,
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These activities by the managers or
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You should rely only on the informa
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PROSPECTUS SUMMARY The following su
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APPLICATION OF PROCEEDS As may be m
Page 27 and 28: (4) Loans to customers (i.e., non-c
Page 29 and 30: transferred to independent subsidia
Page 31 and 32: Our housing-related activities are
Page 33 and 34: (1) Holdings in companies for strat
Page 35 and 36: Loan Portfolio Risks We maintain a
Page 37 and 38: securities portfolio. In accordance
Page 39 and 40: The following table shows our borro
Page 41 and 42: authorized limits. A daily risk and
Page 43 and 44: MANAGEMENT INFORMATION Introduction
Page 45 and 46: credit institutions increased by 10
Page 47 and 48: To control the risks of unhedged po
Page 49 and 50: RECENT DEVELOPMENTS Development of
Page 51 and 52: MANAGEMENT Board of Management Our
Page 53 and 54: Wirtsch.-Ing. Bernd Bechtold Presid
Page 55 and 56: REGULATION AND SUPERVISION OF L-BAN
Page 57 and 58: non-banking corporations if the use
Page 59 and 60: Covering Market Risk Positions Mark
Page 61 and 62: ank, and the aggregate nominal valu
Page 63 and 64: may at any time change the reserve
Page 65: The Entschädigungseinrichtung GmbH
Page 68 and 69: ECONOMY General Germany The economy
Page 70 and 71: Industrial Structure General Positi
Page 72 and 73: The following table shows the amoun
Page 74 and 75: The Euro-zone follows a mutual mone
Page 76 and 77: Revenue Equalization While the Germ
Page 80 and 81: Outstanding Principal Maturity Amou
Page 82 and 83: DESCRIPTION OF THE DEBT SECURITIES
Page 84 and 85: (iv) a waiver by the holders of the
Page 86 and 87: CURRENCY CONVERSION RATES The follo
Page 88 and 89: TAXATION UNITED STATES FEDERAL INCO
Page 90 and 91: number of complete years to maturit
Page 92 and 93: will equal such U.S. Holder’s ini
Page 94 and 95: using the constant yield method des
Page 96 and 97: We have included the federal income
Page 98 and 99: Capital gains resulting from the di
Page 100 and 101: SUMMARY OF CERTAIN DIFFERENCES BETW
Page 102 and 103: The credit risk of the loan and sec
Page 104 and 105: Under U.S. GAAP, repurchased debt s
Page 106 and 107: LIMITATIONS ON ACTIONS AGAINST THE
Page 108 and 109: GLOSSARY This glossary describes ce
Page 110 and 111: Administrative loans, which are loa
Page 112 and 113: Depreciation and accumulated amorti
Page 114 and 115: Landeskreditbank Baden-Württemberg
Page 116 and 117: Balance sheet as at December 31, 20
Page 118 and 119: Statement of income for the period
Page 120 and 121: Notes to the annual financial state
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Notes to the annual financial state
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Authorities of Landeskreditbank Bad
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Proposal of the Board of Management
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FINANCIAL STATEMENTS OF L-BANK AS O
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Landeskreditbank Baden-Württemberg
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Landeskreditbank Baden - Württembe
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Directorships held by members of th
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State government deputy representat
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Independent Auditors’ opinion We
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Directorships held by members of th
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Authorities of Landeskreditbank Bad
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Proposal of the Board of Management
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Debt of L-Bank at December 31, 2004
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Debt Securities
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Landeskreditbank Baden-WÃ¼rttemberg - L-Bank

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