National Grid 2015 Annual Report Download - page 151

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31. Borrowing facilities
To support our long-term liquidity requirements and provide backup to commercial paper and other borrowings, we agree loan facilities
with financial institutions over and above the value of borrowings that may be required. These facilities have never been drawn, and our
undrawn amounts are listed below.
At 31 March 2015, we had bilateral committed credit facilities of £2,094m (2014: £2,073m). In addition, we had committed credit facilities
from syndicates of banks of £884m at 31 March 2015 (2014: £800m). All committed credit facilities were undrawn in 2015 and 2014. An
analysis of the maturity of these undrawn committed facilities is shown below:
2015
£m
2014
£m
Undrawn committed borrowing facilities expiring:
Less than 1 year 572 –
In 1 to 2 years –800
In 2 to 3 years 874 –
In 3 to 4 years 1,220 853
In 4 to 5 years 312 1,220
2,978 2,873
Of the unused facilities at 31 March 2015, £2,666m (2014: £2,583m) was held as backup to commercial paper and similar borrowings,
while £312m (2014: £290m) is available as backup to specific US borrowings.
In addition to the above the Group has an RPI-linked bank loan agreement totalling £1,500m with the European Investment Bank (EIB),
which is currently undrawn.
Further information on our bonds can be found on the debt investor section of our website.
Financial Statements
NATIONAL GRID ANNUAL REPORT AND ACCOUNTS 2014/15 149