Südzucker International Finance B. V. Südzucker AG ... - Xetra

DIRECTOR'S REPORT FOR THE FINANCIALYEARENDED FEBRUARY 28, 2003Südzucker International Finance B.V. (the company) was incorporated on 13 January 1994. Thecompany’s purpose is to finance affiliated companies through, among others, the issuance of publicloans.The company is contracted indefinitely.Activity during the financial year 2002/2003The company’s activities regarding the funding of companies of the Südzucker Group increasedsignificantly in the financial year 2002/2003, mainly caused by the EUR 500 million Bond issued at27 February 2002.To facilitate the loans to Südzucker Group companies, Südzucker International Finance B.V. has thefollowing facilities at its disposal:• the company is a party, by a deed of accession, in a Syndicated Credit Facility Agreement betweenDeutsche Bank Luxembourg S.A. and Südzucker AG, Mannheim. The total amount of this facility isDEM 500 million, it expires in 2003;• in May 1999 a Multi-Currency Commercial Paper Program was issued in co-operation withSüdzucker AG, Mannheim, with a maximum amount of EUR 500,000,000 with the DeutscheBank AG, Frankfurt, acting as agent.• On 8 June 2000 the company has issued a 6.25% Bond with the Deutsche Bank AG for an amountof EUR 300 million for a 10-year period.• On 27 February 2002 a 5.75% Bond has been issued with the Deutsche Bank AG for an amount ofEUR 500 million for a 10-year period.The above mentioned facilities have been guaranteed by Südzucker AG, Mannheim.There are no events occurred after 28 February 2003, which need to be recorded in these financialstatements.Oud-Beijerland, 7 May 2003The Managing Directors:H.H. ScholtenG.P. NotaDeutsche International Trust Company N.V.F-97