|
2003 |
|
2002 |
|
|
£m |
|
£m |
|
|
|
|
|
|
| US
dollar 8.875% notes 2030 (minimum 8.625%a) |
1,928 |
|
1,928 |
|
| 5.75%
bonds 2028 |
596 |
|
596 |
|
| 3.5%
indexed linked notes 2025 |
262 |
|
258 |
|
| 8.625%
bonds 2020 |
297 |
|
296 |
|
| 7.75%
notes 2016 (minimum 7.5%a) |
691 |
|
690 |
|
| Euro
7.125% notes 2011 (minimum 6.875%a) |
1,368 |
|
1,368 |
|
| US
dollar 8.375% notes 2010 (minimum 8.125%a) |
2,049 |
|
2,072 |
|
| US
dollar 8.765% bonds 2009 |
138 |
|
138 |
|
| Euro
11.875% senior notes 2009 |
3 |
|
129 |
|
| US
dollar 11.875% senior notes 2008 |
– |
|
124 |
|
| US
dollar 7% notes 2007 |
606 |
|
605 |
|
| 12.25%
bonds 2006 |
229 |
|
229 |
|
| 7.375%
notes 2006 (minimum 7.125%a) |
398 |
|
397 |
|
| Euro
6.375% notes 2006 (minimum 6.125%a) |
1,858 |
|
1,857 |
|
| US
dollar 7.875% notes 2005 (minimum 7.624%a) |
1,942 |
|
2,066 |
|
| US
dollar 6.75% bonds 2004 |
604 |
|
604 |
|
| Euro
5.875% notes 2004 (minimum 5.625%a) |
1,087 |
|
1,085 |
|
| US
dollar floating rate notes 2003a |
761 |
|
761 |
|
| 7.125%
bonds 2003 |
500 |
|
499 |
|
| 12.25%
bonds 2003 |
– |
|
180 |
|
| Euro
floating rate notes 2003a |
– |
|
611 |
|
| US
dollar 6.75% notes 2002 |
– |
|
830 |
|
|
|
|
|
|
| Total
listed bonds, debentures and notes |
15,317 |
|
17,323 |
|
| Lease
finance |
13 |
|
4 |
|
| Bank
loans due 2001-2009 (average effective interest
rate 9.8%) |
558 |
|
659 |
|
| Floating
rate note 2001-2009 (average effective interest
rate 4.1%) |
112 |
|
126 |
|
| Other
loans |
– |
|
123 |
|
| Bank
overdrafts and other short-term borrowings |
4 |
|
16 |
|
| Euro
Medium Term Notes |
– |
|
125 |
|
| Commercial
paper |
– |
|
64 |
|
|
|
|
|
|
| Total
loans and other borrowings |
16,004 |
|
18,440 |
|
|
|
|
|
|
| aThe
interest rate payable on these notes will be subject
to adjustment from time to time if either Moody’s
or Standard and Poor’s (S&P) reduces the
rating ascribed to the group’s senior unsecured
debt below A3 in the case of Moody’s or below
A minus in the case of S&P. In this event, the
interest rate payable on the notes and the spread
applicable to the floating notes will be increased
by 0.25% for each ratings category adjustment by
each ratings agency. In addition, if Moody’s
or S&P subsequently increase the rating ascribed
to the group’s senior unsecured debt, then
the interest rate then payable on notes and the
spread applicable to the floating notes will be
decreased by 0.25% for each rating category upgrade
by each rating agency, but in no event will the
interest rate be reduced below the minimum interest
rate reflected in the table above. |
Apart
from the lease finance all borrowings at 31 March 2003
are unsecured. Lease finance is repayable by instalments.
|
2003 |
|
2002 |
|
|
£m |
|
£m |
|
|
|
|
|
|
| Repayments
fall due as follows: |
|
|
|
|
| Within
one year, or on demand |
2,548 |
|
2,195 |
|
| Between
one and two years |
846 |
|
2,408 |
|
| Between
two and three years |
4,031 |
|
844 |
|
| Between
three and four years |
501 |
|
4,152 |
|
| Between
four and five years |
606 |
|
497 |
|
| After
five years |
7,472 |
|
8,344 |
|
| Total
due for repayment after more than one year |
13,456 |
|
16,245 |
|
|
|
|
|
|
| Total
loans and other borrowings |
16,004 |
|
18,440 |
|
|
|
|
|
|
|
