Bond overview
This section offers some important information for debt investors.
The ability to flexibly use different sources of funds plays a key role in the financing of the Lonza Group. Lonza has therefore established a number of debt instruments. |
The net debt comprises:
|
million CHF
|
|
2009
|
|
2010
|
|---|
|
Long-term debt
|
|
|
|
| |
Straight bond (2009-2013)
|
|
297
|
|
298
| |
Straight bond ( 2010-2016)
|
|
0
|
|
397
| |
Syndicated loan
|
|
497
|
|
0
| |
Due to banks and others:
|
|
|
|
| |
. Banks
|
22
|
|
16
|
| |
. Others
|
1
|
23
|
136
|
152
| |
Leasing
|
|
7
|
|
3
| |
Total
|
|
824
|
|
850
|
Straight bond (2009-2013)
Amount: CHF 300 million, due 27 May 2013. Interest: 3.75% p.a.
Annual interest expenses amount to CHF 11.25 million.
Following please find the prospectus for the straight bond. |
Syndicated loan
In order to finance the acquisition of the Biopharma and Bioproducts businesses from Cambrex, Lonza signed a syndicated loan of CHF 500 million with a consortium of banks in December 2006; the contract term is five years. It is based on floating rates (libor + margin depending on a margin grid) and was drawn down in February 2007. Lonza hedged the interest rate for the whole five years via interest rate swaps. |
Short-term debt (floating interest rates)
|
million CHF
|
2009
|
2010
|
|---|
|
|
|
| |
Due to banks and other financial institutions
|
46
|
45
| |
Others
|
166
|
3
| |
Leasing
|
3
|
3
| |
Long-term debt due within one year
|
|
|
- Straight bond (2005-2010)
|
300
|
0
| |
|
0
|
499
| |
Total
|
515
|
550
| |
Total debt
|
1 339
|
1400
|
Loans and advances (floating interest rates)
|
million CHF
|
2009
|
2010
|
|---|
|
Long-term loans and advances
|
(32)
|
(43)
| |
Short-term loans and advances
|
(1)
|
(1)
| |
Cash and cash equivalents
|
(140)
|
(248)
| |
Total
|
(173)
|
(292)
| |
Net debt
|
1 166
|
1 108
|
| Loans and advances increased in 2009 compared with the prior year, mainly due to the loan granted to the TL Biopharmaceutical Ltd. joint venture. |
Breakdown of debt by currencies
|
million CHF
|
|
|
2009
|
|
|
2010
|
|---|
|
|
Average
|
|
|
Average
|
|
| |
|
interest
|
|
|
interest
|
|
| |
|
rates
|
|
|
rates
|
|
| |
|
%
|
%
|
|
%
|
%
|
| |
|
|
|
|
|
|
| |
CHF
|
2.54
|
83
|
1 108
|
3.19
|
85
|
1199
| |
CNY
|
0.00
|
0
|
0
|
4.37
|
1
|
16
| |
EUR
|
1.95
|
0
|
1
|
1.45
|
0
|
1
| |
USD
|
2.70
|
16
|
221
|
2.15
|
13
|
175
| |
Other
|
1.20
|
1
|
9
|
0.90
|
1
|
9
| |
Total
|
|
100
|
1 139
|
|
100
|
1400
|
Breakdown of loans and advances by currencies
|
million CHF
|
|
|
2009
|
|
|
2010
|
|---|
|
|
Average
|
|
|
Average
|
|
| |
|
interest
|
|
|
interest
|
|
| |
|
rates
|
|
|
rates
|
|
| |
|
%
|
%
|
|
%
|
%
|
| |
|
|
|
|
|
|
| |
CZK
|
8.00
|
3
|
1
|
0.00
|
0
|
0
| |
GBP
|
0.00
|
0
|
0
|
1.05
|
2
|
1
| |
USD
|
2.50
|
97
|
32
|
1.95
|
98
|
43
| |
Total
|
|
100
|
33
|
|
100
|
44
|
| Interest rates are floating rates. |
Other short-term liabilities
|
million CHF
|
2009
|
2010
|
|---|
|
|
|
| |
Short-Term Provisions
|
39
|
6
| |
Accrued liabilities and other payables
|
265
|
201
| |
Other interest-free liabilities
|
85
|
128
| |
Accrued interest payables
|
12
|
16
| |
Total
|
401
|
351
|
"Accrued liabilities and other payables" include accruals and deferred income, such as down-payments from customers and the fair values of financial instruments. In other interest-free liabilities, payments received from customer funding are included.The increase in "Other interest-free liabilities" is due to the increase of "Personnel liabilities"
|
Straight bond (2010-2016)
Amount: CHF 400 million, due 2 June 2016. Interest: 3.00 % p.a. payable on 2 June, for the first time on 2 June 2011. The annual interest expenses amount to CHF 12.0 million.
Following please find the prospectus for the straight bond. |
|
|
