Unilever 1999 Annual Report Download - page 17

Download and view the complete annual report

Please find page 17 of the 1999 Unilever annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 56

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56

Unilever Group Notes to the consolidated accounts
15 Borrowings
Fl. million
1999 1998
Bank loans and overdrafts 4551 4 064
Bonds and other loans 6002 6 082
10 553 10 146
The repayments fall due as
follows:
Within 1 year:
Bank loans and overdrafts 4063 3 686
Bonds and other loans 2406 1 437
Total due within one year 6469 5 123
After 1 year but within 2 years 1777 1 317
After 2 years but within 5 years 1697 1 677
After 5 years: By instalments 87
Not by instalments 602 2 022
Total due after more than one year 4084 5 023
Total amount repayable by
instalments any of which are
payable after 5 years 54 53
Secured borrowings – mainly bank
loans and overdrafts 113 286
Of which secured against
tangible fixed assets 61 99
15 Borrowings (continued)
Fl. million
1999 1998
Bonds and other loans
NV
8% Notes 1999 (US $) —375
9% Bonds 2000 (NLG)
(a)
486 485
3
1
⁄
2
% Bonds 2001 (Swiss Frs.)
(b)
411 414
5
1
⁄
8
% Notes 2001 (Deutschmarks)
(c)
337 338
6% Notes 2001 (US $)
(d)
440 375
6
5
⁄
8
% Notes 2001 (US $)
(d)
550 469
6
1
⁄
2
% Bonds 2004 (NLG)
(a)
351 350
7
1
⁄
8
% Bonds 2004 (French Frs.)
(e)
503 504
7
1
⁄
4
% Bonds 2004 (US $)
(d)
550 469
6
5
⁄
8
% Notes 2005 (US $)
(d)
440 375
Other 912 879
Total NV 4 980 5 033
Other group companies
USA
9
1
⁄
4
% Notes 2000
(d)
878 749
Other 16 6
Other loans 128 294
Total other group companies 1 022 1 049
Total bonds and other loans 6 002 6 082
Swapped into:
(a) floating rate guilders (range 2.9% - 3.2% at 31 December
1999)
(b) floating rate guilders (3.1% at 31 December 1999) and United
States dollars (5.8% at 31 December 1999)
(c) floating rate Deutschmarks (3.0% at 31 December 1999) and
fixed rate Canadian dollars (6.7%)
(d) floating rate United States dollars (range 5.8% - 7.5% at
31 December 1999)
(e) floating rate French francs (7.9% at 31 December 1999)
Derivative financial instruments are used to swap portions of the
fixed rate debt described above into floating rate debt. Further
details are set out in note 32 on page 29.
The average interest rate on short-term borrowings in 1999 was
9% (1998: 8%).
The day to day financing needs of Unilever’s operating companies
are met using short-term overdraft facilities, substantially all of
which are uncommitted. In addition, at 31 December 1999
Unilever had committed borrowing facilities of Fl. 611 million, all
of which mature within one year.
17 Unilever Annual Accounts 1999