Carphone Warehouse 2014 Annual Report Download - page 88

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Carphone Warehouse Group plc
Annual Report 2014
86
FINANCIAL STATEMENTS
Notes to the Group financial statements continued
19 LOANS AND OTHER BORROWINGS AND FINANCE LEASE OBLIGATIONS continued
a) LOANS AND OTHER BORROWINGS
i) COMMITTED FACILITIES
The Group has a £m multi-currency term and revolving credit facility which matures in April . This facility is split into two tranches:
a £m revolving tranche and a term loan tranche of £m, which amortises by £m on  June  and by a further £m on  June .
The rate of interest payable on borrowings is the aggregate of the applicable margin which depends on performance against one of the
facility’s financial covenants and LIBOR (or an equivalent benchmark rate for other currencies). Commitment and utilisation fees are also
payable under the terms of the facility.
ii) BANK OVERDRAFTS AND UNCOMMITTED FACILITIES
The Group has overdraft and uncommitted money market facilities totalling approximately £m (: £m).
b) FINANCE LEASE OBLIGATIONS
Finance lease liabilities are payable as follows:
Future minimum
leasepayments Interest
Present value of minimum
lease payments
2014 2013 2014 2013 2014 2013
£m £m £m £m £m £m
Less than one year 1———1—
1———1—
c) ANALYSIS OF CHANGES IN FUNDS (DEBT)
At
At 1 April CPW Europe Cash 29 March
2013 Acquisition flows 2014
£m £m £m £m
Cash and cash equivalents 117 —166 283
117 —166 283
Loans and other borrowings —(271) (19) (290)
Finance lease obligations —(3) 2(1)
—(274) (17) (291)
Net funds (debt) 117 (274) 149 (8)