Ryanair 2005 Annual Report Download - page 54

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16 INTEREST RATE RISK (Continued)
Interest rate related derivative arrangements (continued)
The table below illustrates the effect of swap transactions (each of which is with an established international financial
counterparty) on the profile of the group’s debt.
2005 2004
Fixed Floating Total Fixed Floating Total
000 000 000 000 000 000
Short term borrowings - 7,938 7,938 -345345
Long term debt 529,580 885,277 1,414,857 544,711 408,271 952,982
Borrowing profile before swap transactions529,580 893,215 1,422,795 544,711 408,616 953,327
Interest rate swaps 759,426 (759,426) - 372,686 (372,686) -
Borrowing profile after swap transactions 1,289,006 133,789 1,422,795 917,397 35,930 953,327
The profile of the group’s interest rate swaps for forecast existing debt and operating lease commitments are as follows:
2005 2004
Notional amount (000) 1,086,047 710,972
Debt commencement dates 2002-2005 2002-2004
Debt termination dates 2010-2017 2010-2016
Rate payable 5.37-6.18% 5.37-5.97%
(Continued)
Notes
44
ANNUAL REPORT & FINANCIAL STATEMENTS 2005