Aviva 2009 Annual Report Download - page 241

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Aviva plc
Annual Report and Accounts 2009 Notes to the consolidated financial statements continued
Performance review
Corporate responsibility
Governance
Shareholder information
Financial statements IFRS
Financial statements MCEV
Other information
48 – Borrowings continued
2008
Maturity dates of undiscounted cash flows
Carrying Denominated Within 1 1–5 5–10 10–15 Over 15
value currency year years years years years Total
£m £m £m £m £m £m £m £m
Subordinated debt
6.125% £700 million subordinated notes 2036 689 £ — — — — 700 700
5.750% €800 million subordinated notes 2021 772 € — — — 773 — 773
5.250% €650 million subordinated notes 2023 593 € — — — 628 — 628
5.700% €500 million undated subordinated notes 480 € — — — — 483 483
6.125% £800 million undated subordinated notes 790 £ — — — — 800 800
Floating rate US$300 million subordinated notes 2017 208 US$ — — 209 — — 209
6.875% £400 million subordinated notes 2058 394 £ — — — — 400 400
6.875% £200 million subordinated notes 2058 199 £ — — — — 200 200
6.875% €500 million subordinated notes 2038 481 € — — — — 483 483
4,606 — — 209 1,401 3,066 4,676
Debenture loans
9.5% guaranteed bonds 2016 199 £ — — 200 — — 200
2.5% subordinated perpetual loan notes 166 € — — — — 474 474
Other loans 14 various — 14 — — — 14
379 — 14 200 — 474 688
Commercial paper 540 various 540 — — — — 540
Total 5,525 540 14 409 1,401 3,540 5,904
Contractual undiscounted interest payments 345 1,246 1,498 1,339 2,658 7,086
885 1,260 1,907 2,740 6,198 12,990
Total contractual undiscounted cash flows for core
structural borrowings
2007
Maturity dates of undiscounted cash flows
Carrying Denominated Within 1 1–5 5–10 10–15 Over 15
value currency year years years years years Total
£m £m £m £m £m £m £m £m
Subordinated debt
6.125% £700 million subordinated notes 2036 689 £ — — — — 700 700
5.750% €800 million subordinated notes 2021 586 € — — — 588 — 588
5.250% €650 million subordinated notes 2023 474 € — — — — 477 477
5.700% €500 million undated subordinated notes 364 € — — — — 367 367
6.125% £800 million undated subordinated notes 790 £ — — — — 800 800
Floating rate US$300 million subordinated notes 2017 151 US$ — — 151 — — 151
3,054 — — 151 588 2,344 3,083
Debenture loans
9.5% guaranteed bonds 2016 198 £ — — 200 — — 200
2.5% subordinated perpetual loan notes 127 £ — — — — 360 360
Other loans 10 various — 10 — — — 10
335 — 10 200 — 360 570
Commercial paper 922 various 935 — — — — 935
Total 4,311 935 10 351 588 2,704 4,588
Contractual undiscounted interest payments 256 834 1,023 869 625 3,607
Total contractual undiscounted cash flows for core
structural borrowings 1,191 844 1,374 1,457 3,329 8,195
Subordinated debt is stated at net of notes held by Group companies of £35 million (2008: £33 million; 2007: £nil) .
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 £75 million
(2008: £89 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.
Financial statements IFRS