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

Balance sheet4 Receivables from affiliated companies31 August2003(in 5)28 February2003Loans to affiliated companies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 801,900,000 775,000,000Interest receivable on loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 331,024 493,951Commitment fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,431,111 –Interest receivable swap (fixed part) . . . . . . . . . . . . . . . . . . . . . . . 14,666,667 37,176,750Interest payable swap (variable part) . . . . . . . . . . . . . . . . . . . . . . . – 3,104,389 – 4,086,333815,224,413 808,584,368The loans to affiliated companies consist of:– EUR 556,900,000 which bears an interest percentage of 2.470% and expires on 15 September 2003;– EUR 109,000,000 which bears an interest percentage of 2.520 % and expires on 15 September 2003;– EUR 85,000,000 which bears an interest percentage of 2.470 % and expires on 15 September 2003;– EUR 51,000,000 which bears an interest percentage of 2.470 % and expires on 15 September 2003.The interest receivable and payable (swap) relate to two inter group swap agreements:– effective 21 July 2000 for a 10 year period. The group company pays a fixed interest rate of 5.99%per year on EUR 300 million, in exchange for a variable rate of interest of 3 Month EURIBOR onEUR 300 million paid by SZIF B. V.– effective 13 March 2002 for a 10 year period. The group company pays a fixed interest rate of5.43% per year on EUR 500 million, in exchange for a variable rate of interest of 3 MonthEURIBOR on EUR 500 million paid by SZIF B. V.Taking into account the interest swap long term and short-term interest effects of the basictransaction have been matched.5 Bonds discountBalance as at 1 March 2003:Bond discount at cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,545,000Cumulative amortisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – 1,797,512Bond discount book value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,747,488Movements:Amortisation 2003/2004 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – 430,762Balance as at 31 August 2003:Bond discount at cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,545,000Cumulative amortisation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – 2,228,274Bond discount book value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,316,726(in 5)The bond discounts will be amortised over a period of ten years and are related to the 6.25 % Bondissued 8 June 2000 and the 5.75% Bond issued 27 February 2002.F-103