Marks and Spencer 1999 Annual Report Download - page 38

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ANNUAL REPORT AND FIN ANCIAL STATEMENTS 1999
36
18. Creditors:amounts falling due after more than one year
THE GRO UP THE CO MPAN Y
2000 1999 2000 1999
£m £m £m £m
Medium term notes 665.4 –
O ther creditors 107.2 –
772.6 –
(1) O ther creditors include £• m (last year £67.0m) which is shown in the calculation of the Group’s net debt and is treated as financing within
the cash flow statement.
(2) O ther creditors include £• m (last year £33.0m) of non-financial liabilities which have been excluded from the analysis in note 19.
19.Analysis of financial liabilities
A INTEREST RATE AND CURRENCY ANALYSIS
After taking into account the various interest rate and currency swaps entered into by the Group, the currency and interest rate exposure of the Group’s
financial liabilities are set out below.There are no financial liabilities other than short-term creditors excluded from this analysis.
THE GRO UP
2000 1999
Fixed rate Floating rate Total Floating rate
£m £m £m £m
Currency
Sterling 1,289.0
US dollar 203.6
O ther 181.7
1,674.3
The floating rate sterling borrowings are at interest rates at or below LIBO R.The US dollar borrowings are linked to interest rates related to LIBO R.
These rates are for periods ranging from one month to six months.The fixed rate sterling borrowings are at a weighted average rate of • % and the
weighted average time for which the rate is fixed is • years.There were no fixed rate borrowings in 1999.
B MATURITY OF FINANCIAL LIABILITIES
THE GRO UP
2000 1999
£m £m
Repayable within one year:
Bank loans, overdrafts and commercial paper 445.8
Medium term notes 466.8
73⁄8% Guaranteed bonds 1998(1) –
US$ Promissory note 1998(1) –
O ther creditors 22.1
934.7
Repayable between one and two years:
Medium term notes 165.1
O ther creditors 24.9
190.0
Repayable between two and five years:
Medium term notes 500.3
O ther creditors 36.9
537.2
Repayable in five years or more:
O ther creditors 12.4
1,674.3
(1) The 73⁄8% Guaranteed bonds and US$ Promissory note were both repaid during the year.
(2) Financial liabilities include £• m (last year £7.2m) of other creditors which is excluded from the reconciliation of net debt in note 30.
N OTES TO THE FIN AN CIAL STATEMEN TS