BT 1997 Annual Report Download - page 50

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NOTES TO THE FINANCIAL STATEMENTS
50
Group Company
1997 1996 1997 1996
14. Current asset investments £m £m £m £m
Listed investments 115 179 16 65
Other short-term deposits and investments 2,859 2,389 2,893 1,918
Total current asset investments 2,974 2,568 2,909 1,983
Market value of listed investments 115 179 16 65
Average
effective
interest
rates (a)
%
Group Company
1997 1996 1997 1996
15. Loans and other borrowings £m £m £m £m
US dollar 75⁄8% guaranteed bonds 1996 5.6 –164 ––
US dollar 61⁄2% guaranteed notes 1997 7.7 230 246 ––
US dollar 93⁄8% guaranteed bonds 1998 6.0 153 164 ––
US dollar 83⁄4% guaranteed bonds 1999 8.8 123 131 ––
US dollar 93⁄8% guaranteed notes 1999 9.6 184 196 ––
Zero coupon bonds 2000
(less unamortised discount £55m (1996 – £71m)) 5.6 145 129 145 129
121⁄4% bonds 2003 12.3 180 180 180 180
71⁄8% bonds 2003
(less unamortised discount £4m (1996 – £5m)) 7.3 496 495 496 495
121⁄4% bonds 2006 12.3 229 229 229 229
US dollar 95⁄8% guaranteed debentures 2019 9.8 122 130 ––
85⁄8% bonds 2020 (less unamortised discount £5m (1996 – £5m)) 8.8 295 295 295 295
Total listed bonds, debentures and notes 2,157 2,359 1,345 1,328
Bonds held by HM Government
(less unamortised increase in face value in 1996
of £42m) (b) 11.4 –496 –496
Lease finance 2423
Bank loans due 1997-2009 9.0 796 765 ––
Bank overdrafts and other short-term borrowings 5.8 11 13 1,597 144
Commercial paper 6.5 210 –210 –
Loans from subsidiary undertakings ––2,655 2,512
Total loans and other borrowings 3,176 3,637 5,809 4,483
Apart from the lease finance, all borrowings are unsecured. Lease finance is repayable by instalments.