LEGRAND / 2018 Registration document

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

APPENDIX APPENDIX 1

R NOTE 8 – DEBT AND OTHER LIABILITIES

Maturity

December 31, 2018 (in € thousands)

Due within one year

Due in one to five years

Due beyond five years

Net value

Bonds

2,519,948

19,948

1,300,000

1,200,000

Bank borrowings with original maturities: W of less than one year

142

142

W of more than one year Other borrowings

TOTAL DEBT

2,520,090

20,090

1,300,000

1,200,000

Trade payables

1,901

1,901

Accrued taxes and employee benefit expense

6,093

6,093

Other

42,084

42,084

TOTAL OTHER LIABILITIES

50,078

50,078

TOTAL AT THE END OF THE PERIOD

2,570,168

70,168

1,300,000

1,200,000

Total at the beginning of the period

2,547,453

447,453

400,000

1,700,000

8.1 CREDIT FACILITY In October 2011, the Company signed an agreement with six banks to set up a €900.0 million revolving multicurrency facility (2011 Credit Facility) utilizable through drawdowns. The five-year facility could be extended for two successive one-year periods. In July 2014, the Company signed an agreement that amended and extended the Credit Facility finalized in October 2011 with all banks party to this contract. The agreement extended the maximum maturity of the €900.0 million revolving credit line by three years, i.e., up to July 2021, including two successive one-year period extension options, and at improved financing terms compared with October 2011. Drawdowns are subject to an interest rate equivalent to Euribor/ Libor plus a margin determined on the basis of the Group’s credit rating. In addition, the 2011 Credit Facility does not contain any covenants. As of December 31, 2018, the Credit Facility had not been drawn down. BONDS In March 2011, the Company carried out a €400.0 million 4.375% seven-year bond issue. The bonds were redeemable at maturity on March 21, 2018. In April 2012, the Company carried out a €400.0 million 3.375% ten-year bond issue. The bonds will be redeemable at maturity on April 19, 2022. 8.2

In December 2015, the Company carried out a €300.0 million 1.875% twelve-year bond issue. The bonds will be redeemable at maturity on December 16, 2027. In July 2017, the Company carried out a bond issue for a total of €1.0 billion, in two tranches of €500.0 million each, with maturities of 7 and 15 years. The respective maturity dates of these two tranches are July 6, 2024 and July 6, 2032 and their annual coupons are respectively 0.750% and 1.875%. In October 2017, the Company carried out a €400.0 million 0.50% six-year bond issue. The bonds will be redeemable at maturity on October 09, 2023. In March 2018, the Company carried out a €400.0 million 1.0% eight-year bond issue. The bonds will be redeemable at maturity on Mach 06, 2026. OTHER DEBT Other debt consists of the €42,032 thousand due to subsidiaries under the group relief agreement (corresponding to the tax benefits derived from the Company’s use of their tax losses that they will recover when they return to profit). 8.3

A

353

LEGRAND

REGISTRATION DOCUMENT 2018