BT 2002 Annual Report Download - page 110
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24. Current asset investments 2002
£m
2001
£m
Listed investments 231 85
Other short-term deposits and investments 4,350 2,472
Total current asset investments 4,581 2,557
Market value of listed investments 246 85
25. Loans and other borrowings 2002
£m
2001
£m
US dollar 8.875% notes 2030 (minimum 8.625%
a
)1,928 1,928
5.75% bonds 2028 596 596
3.5% indexed linked notes 2025 258 252
8.625% bonds 2020 296 296
7.75% notes 2016 (minimum 7.5%
a
)690 690
Euro 7.125% notes 2011 (minimum 6.875%
a
)1,368 1,385
US dollar 8.375% notes 2010 (minimum 8.125%
a
)2,072 2,073
US dollar 8.765% bonds 2009 138 141
Euro 11.875% senior notes 2009 129 134
US dollar 11.875% senior notes 2008 124 126
US dollar 12.5% senior deferred coupon notes 2007 ±138
US dollar 7% notes 2007 605 605
12.25% bonds 2006 229 229
7.375% notes 2006 (minimum 7.125%
a
)397 396
Euro 6.375% notes 2006 (minimum 6.125%
a
)1,857 1,855
US dollar 7.875% notes 2005 (minimum 7.624%
a
)2,066 2,140
US dollar 6.75% bonds 2004 604 604
Euro 5.875% notes 2004 (minimum 5.625%
a
)1,085 1,083
US dollar ¯oating rate notes 2003
a
761 761
12.25% bonds 2003 180 180
7.125% bonds 2003 499 499
Euro ¯oating rate notes 2003
a
611 619
US dollar 6.75% notes 2002 830 907
Total listed bonds, debentures and notes 17,323 17,637
Lease ®nance 4270
Bank loans due 2001-2009 (average effective interest rate 9.8%) 659 637
Euro ¯oating rate note 2000-2005 ±204
Floating rate note 2001-2009 (average effective interest rate 4.1%) 126 141
Other loans 123 268
Bank overdrafts and other short-term borrowings 16 1,041
Euro Medium Term Notes 125 7,219
Commercial paper 64 3,494
Total loans and other borrowings 18,440 30,911
a
The interest rate payable on these notes will be subject to adjustment from time to time if either Moody's or Standard and Poor's (S&P) reduces the rating
ascribed to the group's senior unsecured debt below A3 in the case of Moody's or below A minus in the case of S&P. In this event, the interest rate payable
on the notes and the spread applicable to the ¯oating notes will be increased by 0.25% for each ratings category adjustment by each ratings agency. In
addition, if Moody's or S&P subsequently increase the rating ascribed to the group's senior unsecured debt, then the interest rate then payable on notes and
the spread applicable to the ¯oating notes will be decreased by 0.25% for each rating category upgrade by each rating agency, but in no event will the interest
rate be reduced below the minimum interest rate re¯ected in the table above.
Notes to the financial statements
BT Group Annual Report and Form 20-F 2002 109