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Financial indebtedness (million €)
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Carrying amounts based on effective interest method |
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| Million € |
Nominal volume |
Effective interest rate |
2007 |
2006 |
| 3.5% Euro Bond 2003/2010 of BASF SE |
1,000 |
3.63 % |
996.8 |
995.7 |
| 3.375% Euro Bond 2005/2012 of BASF SE |
1,400 |
3.42 % |
1,397.4 |
1,396.8 |
| 4% Euro Bond 2006/2011 of BASF SE |
1,000 |
4.05 % |
998.6 |
998.2 |
| 4.5% Euro Bond 2006/2016 of BASF SE |
500 |
4.62 % |
496.0 |
495.6 |
| 3-Month EURIBOR Bond 2006/2009 of BASF SE |
500 |
variabel |
499.8 |
499.7 |
| 5% Euro Bond 2007/2014 of BASF Finance Europe N.V. |
1,000 |
5.09 % |
996.3 |
- |
| 5% Euro Bond 2007/2014 of BASF Finance Europe N.V. |
250 |
4.83 % |
252.7 |
- |
| Extendible Floating Rate Notes of BASF Finance Europe N.V. |
|
variable |
917.0 |
- |
| Other bonds |
|
|
548.3 |
613.8 |
| USD Commercial papers |
|
|
1,878.0 |
3,219.3 |
| Bonds and other liabilities to the capital markets |
|
|
8,980.9 |
8,219.1 |
| Liabilities to credit institutions |
|
|
1,120.6 |
1,264.0 |
| |
|
|
10,101.5 |
9,483.1 |
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Bonds and other liabilities to the capital markets
Other bonds consist primarily of industrial revenue and pollution control bonds that are used to finance investments in the United States. The weighted-average interest rate was 3.8% in 2007 and in 2006. The weighted-average effective interest rate was 3.9% in 2007 and 3.8% in 2006. The average maturity amounted to 205 months as of December 31, 2007, and 214 months as of December 31, 2006.
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Liabilities to credit institutions
Liabilities to credit institutions relate to a large number of different credit institutions in various countries. Liabilities to credit institutions denominated in ringgit and renminbi resulted from the local financing of investments in Malaysia and China. BASF SE had committed and unused credit lines with variable interest rates of €4,075.8 million as of December 31, 2007, and €4,898.3 million as of December 31, 2006. Additional uncommitted credit lines of BASF SE amounted to €227.0 million as of December 31, 2007, and €227.0 million as of December 31, 2006 - these are free of any commitment fees. The weighted-average interest rate on borrowings was 6.2% in 2007 and 6.1% in 2006.
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Other liabilities
Other liabilities contained precious metal derivatives with a negative fair value of €33.5 million as of the balance sheet date. Liabilities to companies in which participations are held include the proportionate amount of liabilities of joint venture companies accounted for using the proportional consolidation method of €173.4 million in 2007 and €110.5 million in 2006. Further liabilities relating to associated companies accounted for using the equity or cost method were €221.0 million in 2007 and €190.0 million in 2006.
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