Peachtree 2015 Annual Report Download - page 162

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The Sage Group plc | Annual Report & Accounts 2015
160
Notes to the Company financial statements continued
Operating assets and liabilities
5 Creditors: amounts falling due within one year
2015
£m
2014
£m
Bank loans and overdrafts –0.9
Amounts owed to Group undertakings 729.3 465.2
Other creditors –60.1
Accruals and deferred income 0.7 4.7
US senior bank loans –unsecured 33.0 123.4
763.0 654.3
Other creditors relate to outstanding liabilities of £nil (2014: £60.1m) arising under an irrevocable close period buyback agreement for the
purchase of the Company’s own shares.
6 Creditors: amounts falling due in more than one year
2015
£m
2014
£m
In more than two years but not more than five years
US senior loan notes – unsecured 33.0 61.6
33.0 61.6
Included in loans above is £66.0m (2014: £185.0m) of unsecured loans (after unamortised issue costs).
The Company has US$100.0m (£66.0m, 2014: £185.1m) of US senior loan notes, which were issued into the US private placement market
in 2010. These notes mature US$50.0m (£33.0m, 2014: £30.8m) in 2016 and US$50.0m (£33.0m, 2014: £30.8m) in 2017 and carry interest
coupons of 4.78% and 5.15% respectively. In March 2015 US$200.0m (£132.2m) notes matured.
In the table above, bank loans and loan notes are stated net of unamortised issue costs of £nil (2014: £0.1m). In the prior year the Company
wrote off the remaining issue costs amounting to £0.5m in respect of the refinancing of its revolving credit facility in a subsidiary of the
parent company.