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88 HYUNDAI MOTOR COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2007 AND 2006
Korean Won
(In millions)
Annual
interest rate (%)
Translation into
U.S. Dollars (Note 2)
(In thousands)
Description 2007 2007 2006 2007 2006
Trade financing 6.00 ~ 7.00 5,266,742 5,103,337 $5,613,667 $5,439,498
General loans 4.71 ~ 7.70 6,210,577 2,879,230 6,619,673 3,068,887
Discount of trade bills 4.38 ~ 7.08 4,155,580 2,674,219 4,429,311 2,850,372
Overdrafts 6.40 ~ 7.10 57,440 97,549 61,224 103,975
Banker’s Usance 1.04 ~ 7.32 736,732 741,643 785,261 790,496
Other 4.60 ~ 4.65 - 143,344 - 152,786
16,427,071 11,639,322 $17,509,136 $12,406,014
14. SHORT-TERM BORROWINGS:
Short-term borrowings as of December 31, 2007 and 2006 consist of the following:
Korean Won
(In millions)
Annual
interest rate (%)
Translation into
U.S. Dollars (Note 2)
(In thousands)
Description 2007 2007 2006 2007 2006
Debentures 3.73 ~ 9.20 15,605,994 13,306,584 $16,633,974 $14,183,100
Won currency loans:
Facility loans 3.00 ~ 7.48 446,438 205,705 475,845 219,255
General loans 4.55 ~ 7.55 266,810 109,537 284,385 116,752
Reorganization claims (*) 23,112 46,044 24,634 49,077
Capital lease 7.77 248,059 6,711 264,399 7,153
Other 1.00 ~ 3.50 20,804 28,758 22,175 30,652
1,005,223 396,755 1,071,438 422,889
Foreign currency loans:
General loans 3.25 ~ 7.24 4,192,379 3,581,798 4,468,534 3,817,734
Reorganization claims (*) 11,270 22,296 12,012 23,765
Facility loans 5.15 ~ 7.64 422,249 3,644 450,063 3,884
Other 3ML+1.20 53,805 67,433 57,349 71,875
4,679,703 3,675,171 4,987,958 3,917,258
21,290,920 17,378,510 22,693,370 18,523,247
Less: current maturities 4,428,143 4,595,588 4,719,828 4,898,303
16,862,777 12,782,922 $17,973,542 $13,624,944
(*) 3 year non-guaranteed bond circulating earning rate at the end of every quarter; 6.77% as of December 31, 2007
15. LONG-TERM DEBT AND DEBENTURES:
Long-term debt and debentures as of December 31, 2007 and 2006 consist of the following: