Barclays 2005 Annual Report Download - page 192

36 Dated loan capital (continued)
2005 2004
Notes £m £m
Convertible
Barclays Bank of Botswana (BBB)
Subordinated Unsecured Floating Rate Capital Notes 2014 (BWP 100m) (n,p) 11 12
Barclays Bank Zambia PLC (Barclays Zambia)
Subordinated Unsecured Floating Rate Capital Notes 2015 (ZMK 30bn) (n,q) 53
Absa
Redeemable cumulative option-holding preference shares (ZAR 147m) (r) 22 –
Total convertible 38 15
Repayable
not more than one year 2296
over one year but not more than five years 302 302
over five years 7,762 5,530
Total repayable 8,066 6,128
None of the Group’s dated loan capital is secured. The debt obligations of the Bank, Barclays Spain, BBB, Barclays Zambia and Absa rank ahead of
the interests of holders of their equity. Dated loan capital of the Bank, Barclays Spain, BBB, Barclays Zambia and Absa has been issued on the basis
that the claims there under are subordinated to the respective claims of their depositors and other unsecured unsubordinated creditors.
Interest
Notes
(a) The interest rates on these Notes are fixed for the life of those issues.
(b) These Notes bear interest at rates fixed periodically in advance based on London or European interbank rates.
(c) These Notes bear interest at rates fixed periodically in advance based on Sydney Bill of exchange rates.
(d) These Notes bear a fixed rate of interest until 2006. After that date, in the event that the Notes are not redeemed, the Notes will bear interest at
rates fixed periodically in advance based on London interbank rates.
(e) These Notes bear a fixed rate of interest until 2008. After that date, in the event that the Notes are not redeemed, the Notes will bear interest at
rates fixed periodically in advance based on London interbank rates.
(f) These Notes bear a fixed rate of interest until 2008. After that date, in the event that the Notes are not redeemed, the Notes will bear interest at
rates fixed periodically in advance based on Sydney Bill of exchange rates.
(g) These Notes bear a fixed rate of interest until 2009. After that date, in the event that the Notes are not redeemed, the coupon will be reset to a
fixed margin over a reference rate for a further period of five years.
(h) These Notes bear a fixed rate of interest until 2010. After that date, in the event that the Notes are not redeemed, the Notes will bear interest at
rates fixed periodically in advance based on Johannesburg interbank acceptance rates.
(i) These Notes bear interest at rates fixed periodically in advance based on Johannesburg interbank acceptance rates.
(j) These Notes bear a fixed rate of interest until 2012. After that date, in the event that the Notes are not redeemed, the Notes will bear interest at
rates fixed periodically in advance based on Johannesburg interbank acceptance rates.
(k) These Notes bear a fixed rate of interest until 2012. After that date, in the event that the Notes are not redeemed, the coupon will be reset to a
fixed margin over a reference gilt rate for a further period of five years.
(l) These Notes bear a fixed rate of interest until 2014. After that date, in the event that the Notes are not redeemed, the Notes will bear interest at
rates fixed periodically in advance based on European interbank rates.
(m) This Loan bears a fixed rate of interest based on a US Dollar principal amount, but the interest payments have been swapped, resulting in a Yen
interest rate payable which is fixed periodically in advance based on London interbank rates.
(n) Repayable at the option of the issuer, prior to maturity, on conditions governing the respective debt obligations, some in whole or in part, and
some only in whole.
(o) Holders of these Notes have certain rights to call for the redemption of their holdings.
(p) These Notes bear interest at rates fixed periodically in advance based on the Bank of Botswana Certificate Rate. All of these Notes will be
compulsorily converted to Preference Shares of BBB, having a total par value equal in sum to the principal amount of Notes outstanding at the
time of conversion, should BBB experience pre-tax losses in excess of its retained earnings and other capital surplus accounts.
(q) These Notes bear interest at rates fixed periodically in advance based on the Bank of Zambia Treasury Bill rate. All of these Notes will be
compulsorily converted to Preference Shares of Barclays Zambia, having a total par value equal in sum to the principal amount of Notes
outstanding at the time of conversion, should Barclays Zambia experience pre-tax losses in excess of its retained earnings and other capital
surplus accounts.
(r) The dividends are compounded and payable semi-annually in arrears on 30th September and 31st March of each year. The shares were issued
by Absa Group Limited on 1st July 2004 and the redemption dates commence on the first business day after the third anniversary of the date
of issue of the redeemable preference shares and ending on the fifth anniversary of the date of issue. Such exercise and notice will be deemed
to be effective only on the option exercise dates, being 1st March, 1st June, 1st September or 1st December of each year. The shares are
convertible into ordinary shares at the option of the preference shareholders on the redemption dates in lots of 100.
Interest payable on loan capital with a final maturity within five years amounted to £20.3m (2004: £23.8m).
Notes to the accounts
For the year ended 31st December 2005
Barclays PLC
Annual Report 2005
190