Financial Statements - Geberit

Geberit Group
Scheduled maturities of the long-term debt for the next five years
are as follows:
mchf
2001
66.0
2002
65.4
2003
64.5
2004
355.7
2005 and thereafter
7.9
Total
559.5
At 31 December 2000, the fair value of the total debts of the Group was
mchf 560.2 (1999: mchf 643.3). Of the financial debt outstanding as of
31 December 2000, approximately mchf 363.6 was denominated in Euro
(1999: mchf 423.0).
1999
In connection with the planning for the ipo (Note 19) the Group entered into
a senior facility agreement, dated 18 May 1999, with underwriting banks
named therein. The facilities consist of (i) a mchf 500.0, five year amortising
loan (Term A), (ii) a meur 65.0, five year amortising loan (Term B), (iii) a
meur 30.0, five year amortising loan (Term C) (together referred to as the
“
Senior Facilities”) and (iv) a mchf 50.0, five year revolving credit facility
(“the Working Capital Facility”, Note 10). The Senior Facilities were borrowed
in Swiss francs and Euro, and the Working Capital Facility is available in
such freely convertible currencies as the banks may agree. 45% of the Senior
Facilities are payable in semi-annual payments on 30 June and 31 December,
the remaining 55% at final maturity on May 2004. The first payment was
made on 30 December 1999. They bear interest at one, two, three or sixmonth
euribor for Euro advances or libor for any other currency plus an
initial interest margin of 1.0% per annum. Commencing 30 July 1999, the
interest margin was reduced to 0.875% per annum. During 1999, the effective
interest rate on the Senior Facilities was 3.87%.
The Senior Facilities were used to refinance the Old Senior Facilities at a
total amount of mchf 496.2, including all outstanding interest and fees, and
together with the proceeds from the ipo, to repurchase the mdem 160.0,
8.0% junior notes due 2007 (“the Junior Notes”), to redeem 93.2% of the
10.125% senior notes due 2007 (“the Senior Notes”) tendered as at 29 June
1999 and to repurchase the preference shares of gisa (Note 19). The purchase
consideration for the Senior Notes was calculated at a blended price of
116.8% (“the Blended Price”) which was calculated under the terms of the
Senior Notes indenture plus accrued and unpaid interest. Included in the
Blended Price were dem 30 per dem 1,000 principal which was paid to each
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