Peachtree 2012 Annual Report Download - page 132
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Net debt and capital structure
8 Creditors: amounts falling due in more than one year
2012
£m
2011
£m
In more than two years but not more than five years
US senior loan notes – unsecured 185.3 157.8
Bank loans – unsecured 13.9 –
In more than five years
US senior loan notes – unsecured –32.1
199.2 189.9
Included in loans above is £199.2m (2011: £189.9m) of unsecured loans (after unamortised issue costs). These loans were taken out in connection
with acquisitions.
The Company has US$300.0m (£185.8m, 2011: £192.6m) of US senior loan notes, which were issued into the US private placement market. These notes mature
US$200.0m (£123.8m, 2011: £128.4m) in 2015, US$50.0m (£31.0m, 2011: £32.1m) in 2016 and US$50.0m (£31.0m, 2011: £32.1m) in 2017 and carry interest
coupons of 4.39%, 4.78% and 5.15% respectively.
There were £15.0m drawings (2011: £nil) under the multi-currency revolving credit facility of £338.3m (2011: £358.3m) expiring on 31 August 2015, which
consists both of US$271.0m (£167.8m, 2011: £174.0m) and of €214.0m (£170.5m, 2011: £184.3m) tranches.
Unsecured bank loans were drawn in Sterling £15.0m (2011: £nil), which bears an average fixed interest rate of 1.7%.
In the table above, bank loans and loan notes are stated net of unamortised issue costs of £1.6m (2011: £2.7m). The Company has incurred total issue costs
amounting to £4.4m (2011: £4.4m) in respect of these facilities. These issue costs were paid during the year ended 30 September 2010; no issue costs were
incurred during the current financial year. These costs are allocated to the income statement over the term of the facility using the effective interest method.
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