Vodafone 2016 Annual Report Download - page 134

Vodafone Group Plc
Annual Report 2016
132
Notes to the consolidated nancial statements (continued)
22. Liquidity and capital resources (continued)
Committed facilities
In aggregate we have committed facilities of approximately £13,141 million, of which £8,197 million was undrawn and £4,944 million was drawn
at 31 March 2016. The following table summarises the committed bank facilities available to us at 31 March 2016.
Committed bank facilities Amounts drawn Terms and conditions
28 March 2014
€4.0 billion syndicated
revolvingcredit facility,
maturing 28 March 2021.
No drawings have been made against
this facility. The facility supports our
commercial paper programmes and
may be used for general corporate
purposes including acquisitions.
Lenders have the right, but not the obligation, to cancel their
commitments and have outstanding advances repaid no sooner than
30 days after notication of a change of control. This is in addition to
the rights of lenders to cancel their commitment if we commit an event
of default; however, it should be noted that a material adverse change
clause does not apply.
The facility matures on 28 March 2021. From 28 March 2020 the facility
size will be €3.9 billion as one lender did not extend the facility as per the
request from the Company.
27 February 2015
US$4.1 billion syndicated
revolving credit facility,
maturing 27 February 2021.
No drawings have been made against
this facility. The facility supports our
commercial paper programmes and
may be used for general corporate
purposes including acquisitions.
Lenders have the right, but not the obligation, to cancel their
commitments and have outstanding advances repaid no sooner than
30 days after notication of a change of control. This is in addition to
the rights of lenders to cancel their commitment if we commit an event
of default; however, it should be noted that a material adverse change
clause does not apply.
The facility matures on 27 February 2021, with each lender having
the option to extend the facility for a further year prior to the second
anniversary of the facility, if requested by the Company. From
27 February 2020 the facility size will be US$3.9 billion as one lender did
not extend the facility as per the request from the Company.
27 November 2013
£0.5 billion loan facility,
maturing 12 December 2021.
This facility was drawn down in full in
euros, as allowed by the terms of the
facility, on 12 December 2014.
As per the syndicated revolving credit facilities with the addition that,
should our UK and Irish operating companies spend less than the
equivalent of £0.9 billion on capital expenditure, we will be required
to repay the drawn amount of the facility that exceeds 50% of the
capitalexpenditure.
15 September 2009
€0.4 billion loan facility,
maturing 30 July 2017.
This facility was drawn down in full on
30 July 2010.
As per the syndicated revolving credit facilities with the addition that,
should our German operating company spend less than the equivalent
of €0.8 billion on VDSL related capital expenditure, we will be required
to repay the drawn amount of the facility that exceeds 50% of the VDSL
capital expenditure.
29 September 2009
US$0.7 billion export credit
agency loan facility, nal
maturity date 19 September
2018.
This facility is fully drawn down and
isamortising.
As per the syndicated revolving credit facilities with the addition that the
Company was permitted to draw down under the facility based upon the
eligible spend with Ericsson up until the nal draw down date of 30 June
2011. Quarterly repayments of the drawn balance commenced on
30 June 2012 with a nal maturity date of 19 September 2018.
8 December 2011
€0.4 billion loan facility,
maturing on 5 June 2020.
This facility was drawn down in full on
5 June 2013.
As per the syndicated revolving credit facilities with the addition that,
should our Italian operating company spend less than the equivalent of
€1.3 billion on capital expenditure, we will be required to repay the drawn
amount of the facility that exceeds 50% of the capital expenditure.
20 December 2011
€0.3 billion loan facility,
maturing 18 September 2019.
This facility was drawn down in full on
18 September 2012.
As per the syndicated revolving credit facilities with the addition that,
should our Turkish and Romanian operating companies spend less than
the equivalent of €1.3 billion on capital expenditure, we will be required
to repay the drawn amount of the facility that exceeds 50% of the
capitalexpenditure.
4 March 2013
€0.1 billion loan facility,
maturing 4 December 2020.
This facility was drawn down in full on
4 December 2013.