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104 Vodafone Group Plc Annual Report 2009
25. Borrowings
Carrying value and fair value information
2009 2008
Short term Long term Short term Long term
borrowings borrowings Total borrowings borrowings Total
£m £m £m £m £m £m
Financial liabilities measured at amortised cost:
Bank loans 893 5,159 6,052 806 2,669 3,475
Bank overdrafts 32 − 32 47 – 47
Redeemable preference shares – 1,453 1,453 – 985 985
Commercial paper 2,659 − 2,659 1,443 − 1,443
Bonds 515 8,064 8,579 1,125 4,439 5,564
Other liabilities(1) 1,015 4,122 5,137 306 3,005 3,311
Bonds in fair value hedge relationships 4,510 12,951 17,461 805 11,564 12,369
9,624 31,749 41,373 4,532 22,662 27,194
Note:
(1) At 31 March 2009, amount includes £691 million (2008: £nil) in relation to collateral support agreements.
The fair value and carrying value of the Group’s short term borrowings is as follows:
Sterling equivalent
nominal value Fair value Carrying value
2009 2008 2009 2008 2009 2008
£m £m £m £m £m £m
Financial liabilities measured at amortised cost 5,131 3,731 5,108 3,715 5,114 3,727
Bonds in fair value hedge relationships: 4,320 802 4,397 800 4,510 805
4.25% euro 1,859 million bonds due May 2009 1,720 − 1,722 − 1,780 −
4.75% euro 859 million bond due May 2009 794 − 798 − 831 −
7.75% US dollar 2,582 million bond due February 2010 1,806 − 1,877 − 1,899 −
5.5% euro 400 million bond due July 2008 − 37 − 37 − 39
6.25% sterling 400 million bond due July 2008 − 400 − 400 − 397
6.65% US dollar 500 million bond due May 2008 − 126 − 126 − 130
4.0% euro 300 million bond due January 2009 − 239 − 237 − 239
Short term borrowings 9,451 4,533 9,505 4,515 9,624 4,532
Notes to the consolidated nancial statements continued