How many bonds are currently outstanding?
There are currently four bonds outstanding.
Which ABB entities currently have bonds outstanding?
ABB International Finance Limited has two public bonds outstanding that were issued under ABB’s Euro Medium Term Note (EMTN) Program.
ABB Treasury Center (USA), Inc. has two bonds outstanding.
The originally issued principal amounts, coupons and maturities are as follows:
ABB International Finance Limited:
EUR 650 million 6.5% bonds due November 2011
EUR 700 million 4.625% bonds due June 2013
ABB Treasury Center (USA), Inc.
USD 600 million 2.5% bonds due June 2016
USD 650 million 4.0% bonds due June 2021
Could you give us an overview of the legal structure showing the relationship between ABB Ltd, ABB International Finance Limited and ABB Treasury Center (USA), Inc.?
ABB International Finance Limited and ABB Treasury Center (USA), Inc. are wholly-owned (indirect) subsidiaries of ABB Ltd. Please refer to the chart attached in the right-hand column.
Do the bonds have a Keep-Well Agreement with ABB Ltd?
The bonds issued by ABB International Finance Limited and ABB Treasury Center (USA), Inc. benefit from a Keep-Well Agreement entered into between ABB Ltd and the respective issuer.
Are all bonds unsecured and unsubordinated?
Yes.
Do you have a cross-default clause in your bond documentation?
Yes. The EMTN Program and the bond documentation set out the details of the cross-default relevant to each bond.
Do you have a negative pledge in your bond documentation?
Yes. The relevant EMTN Program and the bond documentation set out the details of the negative pledge relevant to each bond.
What assets do you have in ABB Ltd?
A balance sheet as of December 31, 2010 of ABB Ltd is provided in the ABB Group Annual Report 2010.
Where can I find a copy of the ABB Group Annual Report?
The consolidated and non-consolidated financial statements as of December 31, 2010 of ABB Ltd are provided in the ABB Group Annual Report 2010, which is available here.