Lenovo 2013 Annual Report Download - page 168
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NOTES TO THE FINANCIAL STATEMENTS
Lenovo Group Limited 2012/13 Annual Report
166
28 Bank borrowings
Group Company
2013 2012 2013 2012
US$’000 US$’000 US$’000 US$’000
Term loans (i) 303,133 –300,000 –
Short-term loans (ii) 175,838 62,952 ––
478,971 62,952 300,000 –
Notes:
(i) Term loans comprise a US$300 million (2012: Nil) 5-year term loan facility entered into in July 2009. It has been drawn down in July
2012.
(ii) The majority of the short-term loans are denominated in Brazilian Real.
The exposure of all the bank borrowings of the Group and of the Company to interest rate changes and the contractual
repricing dates at the end of the reporting period are as follows:
Group Company
2013 2012 2013 2012
US$’000 US$’000 US$’000 US$’000
Within 1 year 175,838 62,952 ––
1 to 3 years 303,133 –300,000 –
478,971 62,952 300,000 –
The carrying amounts of bank borrowings approximate their fair value as the impact of discounting is not significant.
Total bank facilities of the Group are as follows:
Total facilities Utilized amounts
2013 2012 2013 2012
US$’000 US$’000 US$’000 US$’000
Revolving loans 500,000 800,000 ––
Term loans 389,000 –303,133 –
Short-term loans 668,000 521,000 175,838 62,952
Foreign exchange contracts 5,934,000 5,759,000 4,945,000 4,720,000
Other trade finance facilities 391,000 362,000 242,000 220,000
7,882,000 7,442,000 5,665,971 5,002,952
All the bank borrowings are unsecured and the effective annual interest rates at March 31, 2013 are as follows:
United States dollar Other currencies
2013 2012 2013 2012
Term loans 2.3%-2.45% N/A 5.54%-12.92% N/A
Short-term loans N/A 3.5%-5.45% 3.5%-12.92% 5%