Report tools

Notes to the Group financial statements

17 Other financial liabilities

The Group had the following current and non-current borrowings and other financial liabilities:

	2009 £m	2008 £m
Current
Bank loans and overdrafts due within one year or on demand:
Bank overdraft	–	73
Other loan notes – 4.19%	–	2
	–	75
Finance lease obligations	1	2
	1	77

	2009 £m	2008 £m
Non-current
£150m Sterling bonds 6.50% August 2014	155	156
£200m Sterling bonds 6.00% January 2017	202	203
£200m Sterling bonds 6.12% December 2018	205	205
€250m Euro bonds 6.50% April 2010	222	194
Total non-current Sterling and Euro bonds	784	758
Floating credit facility – 2.08%	250	–
Other loans – 9.38%	15	15
Finance lease obligations	–	1
	1,049	774

a) Borrowing facilities

Borrowings are denominated in Sterling and Euros and bear fixed interest rates, with the exception of the floating credit facility which bears floating interest rates. All borrowings are unsecured.

The expiry date for the floating credit facility is consistent with the undrawn element of the facility disclosed below.

In the event of default of covenants on the bank facility, the principal amounts and any interest accrued are repayable on demand.

The Group has the following undrawn floating committed borrowing facilities available in respect of which all conditions precedent had been met at that date:

	2009 £m	2008 £m
Undrawn facilities expiring:
Between three and four years	850	–
Between four and five years	–	1,100

b) Finance lease obligations

Payments under finance lease obligations fall due as follows:

	2009 £m	2008 £m
Not later than one year	1	2
Later than one year but not more than five years	–	1
	1	3
Future finance charges on finance lease obligations	–	–
Present value of finance lease obligations	1	3