BT 1998 Annual Report Download - page 61

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N O T E S T O TH E F I N A N C I A L S TAT E M E N T
Group Company
))))))))))!!!!0051111!!!0051111
1998 1997 1998 1997
18. Loans and other borrowings £m £m £m £m
))))))))%!!!0111!!!0051111!!!0051111
US dollar 61⁄2% guaranteed notes 1997 7.7 –230 ––
US dollar 93⁄8% guaranteed bonds 1998 6.7 149 153 ––
US dollar 93⁄8% guaranteed notes 1999 9.6 179 184 ––
US dollar 83⁄4% guaranteed bonds 1999 8.8 119 123 ––
Zero coupon bonds 2000
(less unamortised discount £38m (1997 – £55m)) 6.6 162 145 162 145
US dollar 63⁄4% notes 2002 (less unamortised discount £9m) 7.1 886 –886 –
121⁄4% bonds 2003 12.3 180 180 180 180
71⁄8% bonds 2003 (less unamortised discount £3m (1997 – £4m)) 7.3 497 496 497 496
121⁄4% bonds 2006 12.3 229 229 229 229
US dollar 7% notes 2007 (less unamortised discount £3m) 7.1 593 –593 –
US dollar 95⁄8% guaranteed debentures 2019 9.8 119 122 ––
85⁄8% bonds 2020 (less unamortised discount £5m (1997 – £5m)) 8.8 295 295 295 295
000000005!!!0111!!!0051111!!!0051111
Total listed bonds, debentures and notes 3,408 2,157 2,842 1,345
Lease finance 10 222
Bank loans due 1999-2009 9.0 792 796 ––
Other loans 11.0 10 –––
Bank overdrafts and other short-term borrowings 7.1 74 11 1,237 1,597
Commercial paper 7.1 476 210 476 210
Loans from subsidiary undertakings ––2,851 2,655
000000005!!!0111!!!0051111!!!0051111
Total loans and other bor rowings 4,770 3,176 7,408 5,809
000000005!!!0111!!!0051111!!!0051111
Apart from the lease finance, all borrowings are unsecured. Lease finance is repayable by instalments.
Group Company
))))))))))!!!!0051111!!!0051111
1998 1997 1998 1997
£m £m £m £m
))))))))))!!!!0051111!!!0051111
Repayments fall due as follows:
Within one year, or on demand 881 483 3,282 2,316
Between one and two years 459 338 432 331
Between two and three years 12 418 280 450
Between three and four years 2–1774
Between four and five years 1,143 –1,141 1
After five years 2,273 1,937 2,272 1,937
Total due for repayment after more than one year 3,889 2,693 4,126 3,493
00000000001!!!0051111!!!0051111
Total loans and other bor rowings 4,770 3,176 7,408 5,809
00000000001!!!0051111!!!0051111
The group has an option to redeem the US dollar 95⁄8% guaranteed debentures 2019 exercisable from February 1999 at a
maximum premium of 105%.
Average
effective
interest
rates (a)
%