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94 Huawei Investment & Holding Co., Ltd. 2014 Annual Report
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:
Brazil Real – fixed at 11.09% p.a. 43 43 – –
RMB – variable at 5.90%~6.55% p.a. 1,557 225 627 705
Ethiopian Birr – fixed at 9.50% p.a. 1 1 – –
Euro ("EUR") – variable at 1.40%~1.71% p.a. 3,564 792 2,772 –
Indian rupee – variable at 9.50%~9.75% p.a. 842 842 – –
Kazakhstan Tenge – fixed at 7.00%~8.50% p.a. 187 125 62 –
Philippines Peso – variable at 3.70% p.a. 18 18 – –
United States dollar ("USD")
– variable at 1.63%~2.64% p.a. 15,074 4,317 10,757 –
– fixed at 4.33% p.a. 2,788 2,788 – –
New Venezuelan Bolivar – variable at 14.00% p.a. 12 12 – –
Vietnam Dong – variable at 6.68%~8.00% p.a. 59 59 – –
24,145 9,222 14,218 705
Unsecured bank loan:
RMB – variable at 5.90%~6.55% p.a. 1,382 310 643 429
Corporate bond:
RMB – fixed at 5.30% p.a. 998 998 – –
RMB – fixed at 4.55% p.a. 1,583 –1,583 –
2,581 998 1,583 –
28,108 10,530 16,444 1,134
The carrying amount of the above loans and borrowings approximates to their 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, 2014, none of the covenants
relating to draw down facilities had been breached (2013: nil).
Corporate bond
On 17 September 2014, Proven Honour Capital Limited, a wholly-owned subsidiary of the Company, issued a
corporate bond with a principal amount of CNY1,600 million with three years maturity at an annual interest rate
of 4.55%. This corporate bond is fully guaranteed by the Company.