17. Events After the End of the Reporting Period
Diabetes Care business
Implementation of the agreement concerning the sale of the Diabetes Care business to Panasonic Healthcare Holdings Co, Ltd., Tokyo, Japan, began on January 4, 2016, and thus after the closing date for the financial statements. A payment of €0.9 billion was made in January 2016 in connection with the sale. Bayer has entered into further significant obligations, which are to be met over the next two years.
Redemption of financial liabilities
On January 25, 2016, Bayer AG redeemed at maturity a bond with a nominal volume of €500 million issued under the multi-currency European Medium Term Notes program. In addition, commercial paper and promissory notes in a total amount of €383 million were repaid in January and February, 2016, respectively.