Huawei 2013 Annual Report Download - page 96

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95
Notes to the Consolidated Financial Statements Summary
Terms and debt repayment schedule
Terms and conditions of outstanding loans and borrowings are as follows:
Total 1 year
or less
1 to
5 years
Over
5 years
CNY million CNY million CNY million CNY million
Intra-group guaranteed bank loans:
CNY – variable at 5.9% p.a. 577 157 420 –
Euro (“EUR”) – variable at 1.41% ~ 1.92% p.a. 3,571 577 2,994 –
Japanese yen – variable at
0.97% ~ 1.28% p.a. 809 809 – –
Indian rupee – variable at
9.9% ~ 11.75% p.a. 1,213 1,213 – –
United States dollar (“USD”) – fixed at
4.33% p.a. 2,726 –2,726 –
USD – variable at 1.68% ~ 2.71% p.a. 11,472 –11,472 –
Ethiopian birr – fixed at 9.5% p.a. 5 – 5 –
20,373 2,756 17,617 –
Unsecured bank loans:
Bangladeshi taka – variable at
14.5% p.a. 24 24 – –
CNY – variable at 5.9% ~ 6.55% p.a. 1,644 262 858 524
Singapore dollar – fixed at 2.5% p.a. 1 1 – –
1,669 287 858 524
Corporate bond:
CNY – fixed at 5.30% p.a. 991 –991 –
23,033 3,043 19,466 524
The carrying amount of the above loans and borrowings approximates to the fair value.
Certain of the Group’s banking facilities are subject to the fulfillment of covenants relating to certain
of the borrower’s statement of financial position ratios, as are commonly found in lending agreements
with financial institutions. If the Group were to breach the covenants, the draw down facilities would
become payable on demand. The Group regularly monitors its compliance with these covenants. As at
December 31, 2013, none of the covenants relating to draw down facilities had been breached (2012: nil).
Corporate bond
On May 11, 2012, Proven Honour Capital Limited, a wholly-owned subsidiary of the Company, issued
a corporate bond with a principal amount of CNY1,000 million and three years maturity at an annual
interest rate of 5.30%. This corporate bond is fully guaranteed by the Company.