Carphone Warehouse 2016 Annual Report Download - page 125

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123
18 Loans and other borrowings
30 April
2016
£million
2 Ma
y
2015
£million
Current liabilities
Bank overdrafts — 55
— 55
Non-current liabilities
Loans and other borrowings 409 330
409 330
Committed facilities
On 8 October 2015 the Group signed a new multi-currency revolving credit facility for £800 million, which matures in October
2020 and replaced the multi-currency term and revolving credit facility which was previously in place. The rate of interest payable
on borrowings is a margin of 1.35% per annum over the applicable reference rate.
The facilities require guarantees to be provided by certain Group entities under the facilities.
Bank overdraft and other uncommitted facilities
The Group has overdraft and uncommitted money market facilities totalling approximately £128 million (2015: £157 million).
19 Finance lease obligations
30 April 2016 2 May 2015
Minimum
lease
payments
£million
Present
value of
minimum
lease
payments
£million
Minimum
lease
payments
£million
Present
value of
minimum
lease
payments
£million
A
mounts due:
Within one year 9 8 8 8
In more than one year and not more than five years 35 29 33 26
In more than five years 111 54 114 57
155 91 155 91
Less future finance charges (64) — (64) —
Present value of lease obligations 91 91 91 91
Less amounts due within one year (2) (2) (2) (2)
A
mounts due after more than one yea
r
89 89 89 89
The majority of finance leases relate to properties in the UK where obligations are denominated in Sterling and remaining lease
terms vary between 9 and 20 years. The effective borrowing rate on individual leases ranged between 5.51% and 8.67% (2015:
5.51% and 8.15%). Interest rates are fixed at the contract date. All leases are on a fixed repayment basis and no arrangements
have been entered into for contingent rental payments.
The fair value of the Group’s lease obligations approximates their carrying amount.
00_DC 2016 Annual Report.pdf 123 11/07/2016 18:34