Aviva 2007 Annual Report Download - page 209
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47 – Borrowings continued
2006
Maturity dates of undiscounted cash flows
Carrying Denominated Within Over
value currency 1 year 1-5 years 5-10 years 10-15 years 15 years Total
£m £m £m £m £m £m £m
Subordinated debt
6.125% £700 million
subordinated notes 2036 689 £ ––––700700
5.750% 1800 million
subordinated notes 2021 537 1– – – 539 – 539
5.250% 1650 million
subordinated notes 2023 434 1––––438438
5.700% 1500 million undated
subordinated notes 334 1––––337337
6.125% £800 million undated
subordinated notes 790 £ ––––800800
Floating rate US$300 million
subordinated notes 2017 153 US$ – – – 153 – 153
2,937 – – – 692 2,275 2,967
Debenture loans
9.5% guaranteed bonds 2016 198 £ – – 200 – – 200
2.5% subordinated perpetual
loan notes 116 1––––330330
5.95% senior notes 2015 165 Various 165 ––––165
Other loans 42 Various – 22 – – 20 42
521 165 22 200 – 350 737
Commercial paper 737 Various 737 ––––737
Total 4,195 902 22 200 692 2,625 4,441
Contractual undiscounted
interest payments 252 820 1,020 888 701 3,681
Total contractual undiscounted
cash flows for core
structural borrowings 1,154 842 1,220 1,580 3,326 8,122
Where subordinated debt is undated or loan notes are perpetual, the interest payments have not been included beyond
15 years. Annual interest payments for these borrowings are £79 million (2006: £91 million).
Contractual undiscounted interest payments are calculated based on underlying fixed interest rates or prevailing market
floating rates as applicable. Year end exchange rates have been used for interest projections on loans in foreign currencies.
All the above borrowings are stated at amortised cost.
Aviva plc
Annual Report and
Accounts 2007
205
Financial
statements