BT 2008 Annual Report Download - page 116

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BT Group plc Annual Report & Form 20-F 115
15. Trade and other receivables continued
2008 2007
£m £m
.....................................................................................................................................................................................................................................
Non current
Other assetsa854 523
aMainly represents costs relating to the initial set up, transition or transformation phase of long-term networked IT services contracts.
16. Loans and other borrowings
2008
£m
2007
£m
.....................................................................................................................................................................................................................................
Sterling 6.375% bonds 2037b521 –
US dollar 9.125% (2007: 9.125%) notes 2030 (minimum 8.625%a)b1,380 1,398
Sterling 5.75% bonds 2028 608 608
Sterling 3.5% indexed linked notes 2025 315 301
Sterling 8.625% bonds 2020 298 297
US dollar 5.95% bonds 2018b563 –
Sterling 6.625% bonds 2017b524 –
Sterling 8.0% (2007: 8.0%) notes 2016 (minimum 7.5%a)712 712
Euro 5.25% bonds 2014b622 –
Euro 5.25% bonds 2013b812 –
US dollar 5.15% bonds 2013b434 –
Euro 7.375% (2007: 7.375%) notes 2011 (minimum 6.875%a)b903 768
US dollar 8.625% (2007: 8.625%) notes 2010 (minimum 8.125%a)b1,496 1,515
US dollar 8.765% bonds 2009c110 108
US dollar 7% notes 2007c–542
Total listed bonds, debentures and notes 9,298 6,249
Finance leases 320 567
Commercial paperb,d 107 794
Sterling 6.35% bank loan due 2012 312 –
Sterling 10.4% bank loan due 2009 140 147
Sterling floating rate note 2008-2009 (average effective interest rate 5.2% (2007: 4.3%)) 36 42
Sterling floating rate loan 2008-2009 (average effective interest rate 6.7% (2007: 5.5%)) 402 724
Sterling floating rate loan 2008 (average effective interest rate 6.3%) 351 –
Sterling floating rate loan 2008 (average effective interest rate 6.4%) 100 –
Other loans 2008-2012 15 16
Bank overdrafts (of which £256 million (2007: £49 million) had a legally enforceable right of set off – see note 9) 261 51
Total other loans and borrowings 1,724 1,774
Total loans and other borrowings 11,342 8,590
aThe 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 - in the case of S&P. In this event, the interest rate payable on the notes and the spread applicable to the floating notes will be increased by 0.25%
for each ratings category adjustment by each rating agency. In addition, if Moody’s or S&P subsequently increase the ratings ascribed to the group’s senior unsecured debt, then the interest rate then
payable on notes and the spread applicable to the floating 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 reflected in the above table.
bHedged in a designated cash flow hedge.
cHedged in a designated cash flow and fair value hedge.
dCommercial paper is denominated in Sterling £nil (2007: £25 million) and Euro £107 million (2007: £769 million).
Financial statements