National Grid 2014 Annual Report Download - page 123

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Strategic Report Corporate Governance Financial Statements Additional Information
Unaudited commentary on borrowings
As at 31 March 2014, total borrowings of £25,950m (2013: £28,095m) including bonds, bank loans, commercial paper, collateral,
finance leases and other debt had decreased by £2,145m primarily representing maturity and redemption of debt during the year.
Weexpect torepay £3,511m of our total borrowings in the next12 months including commercial paper, collateral and interest, and we
expect to beable to refinance this borrowing through the capital and money markets.
The maturity profile of long-term debt in our major entities is illustrated below:
National Grid long-term debt maturity profile
£m
14/15
15/16
16/17
17/18
18/19
19/20
20/211
21/22
22/23
23/24
24/25
25/261
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31/32
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58/59
200
0400 600 800 1,000 1,200 1,400 1,600 1,800 2,000
National Grid Gas Group National Grid Electricity Transmission National Grid plc/NGG Finance
National Grid USA/National Grid North America National Grid USA operating companies Grain LNG
1. Includes hybrid bonds at first callable date (euro: 2020; sterling: 2025). Actual maturity of these bonds is euro: 2076; sterling: 2073.
Further information on our bonds can be found in the debt investor section of our website.
This unaudited commentary does not form part of the financial statements.
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