In 2016, WACKER took out new bank loans for an amount totaling US$ 250 million (€237.6 million) and KRW (Korean won) 23.3 million (€18.4 million). A maturing, euro-denominated investment loan of €200 million was repaid on schedule and ongoing scheduled repayments of a further investment loan were made in the amount of €16 million. A renminbi-denominated investment loan of CNY 252.8 million (€34.6 million) falling due in 2018 was repaid ahead of schedule in 2016.

In 2015, the company made a scheduled repayment of €150 million on a promissory note (German Schuldschein). In addition, around €50 million was repaid on renminbi-denominated loans.

No collateral exists for the financial liabilities, nor are they secured through liens or similar rights. Some of the liabilities to banks have fixed interest rates and others have variable interest rates. Moreover, some of the liabilities to banks

were granted on condition that particular covenants be complied with.

The liabilities to banks comprise the following:

Other financial liabilities comprise the following:

The carrying amounts of the current financial liabilities correspond to the repayment amounts. With the exception of the euro-denominated investment loan in the amount of €64 million, all the loans fall due on maturity.

The following table shows the future redemption and interest payments for the bank liabilities and other financial liabilities.

There are also unused long-term lines of credit amounting to €801.1 million (€602.8 million a year earlier), where all the conditions for their utilization have been met.

As of the reporting date, the future minimum lease payments under finance lease agreements amount to:

There are no conditional lease payments from finance leases.

Wacker Chemie AG has capitalized a finance lease for the leased CCGT (combined-cycle gas turbine) power station at its Burghausen site. The lease for the power station is due to expire in 2019 at the latest. WACKER has the right to acquire the power station at a price oriented to book values in accordance with German commercial law. If WACKER acquires this power station, it may not be sold to a third party for five years.

WACKER also has leasing agreements for several technical facilities that qualify as finance leases and were capitalized accordingly. Here, too, the Group in some cases has rights of preemption and lease rollover options.

The lease agreements serve to simplify the procurement and financing of operating materials and fixed assets. The long-term commitment that they involve, however, leads to a constant future outflow of cash from which the company cannot extract itself.