Tesco 2014 Annual Report Download - page 101

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Note 20 Borrowings
Current
Par value
Maturity
year
2014
£m
2013
£m
Bank loans and overdrafts – – 830 730
Loans from joint ventures (Note 28) – – 16 16
5% MTN £600m 2014 628 –
2% USD Bond $500m 2014 300 –
Other MTNs – – 130 14
Finance leases (Note 34) – – 66
1,910 766
Non-current
Par value
Maturity
year
2014
£m
2013
£m
5% MTN £600m 2014 –642
2% USD Bond $500m 2014 –328
5.125% MTN €600m 2015 528 566
4% RPI MTN*£299m 2016 304 295
5.875% MTN €1,039m 2016 1,011 1,071
2.7% USD Bond $500m 2017 299 328
1.250% MTN €500m 2017 411 –
5.5% USD Bond $850m 2017 595 674
5.2% Tesco Bank Retail Bond £125m 2018 139 141
3.375% MTN €750m 2018 620 653
5.5% MTN £350m 2019 352 352
1% RPI Tesco Bank Retail Bond** £60m 2019 60 60
2.125% M TN €500m 2020 411 –
5% Tesco Bank Retail Bond £200m 2020 197 206
6.125% MTN £900m 2022 948 948
5% MTN £389m 2023 401 404
3.322% LPI MTN†£307m 2025 310 299
6% MTN £200m 2029 242 255
5.5% MTN £200m 2033 241 251
1.982% RPI MTN±£254m 2036 256 248
6.15% USD Bond $1,150m 2037 792 911
4.875% MTN £173m 2042 174 174
5.125% MTN €600m 2047 605 641
5.2% MTN £279m 2057 274 274
Other MTNs – – –146
Other loans – – 18 79
Finance leases (Note 34) – – 115 122
9,303 10,068
* The 4% RPI MTN is redeemable at par, including indexation for increases in the Retail Price Index (‘RPI’) over the life of the MTN.
** The 1% RPI Tesco Bank Retail Bond is redeemable at par, including indexation for increases in the RPI over the life of the Bond.
† The 3.322% Limited Price Inflation (‘LPI’) MTN is redeemable at par, including indexation for increases in the RPI over the life of the MTN. The maximum indexation of the
principal in any one year is 5%, with a minimum of 0%.
± The 1.982% RPI MTN is redeemable at par, including indexation for increases in the RPI over the life of the MTN.
Borrowing facilities
The Group has the following undrawn committed facilities available at 22 February 2014, in respect of which all conditions precedent had been met as at
that date:
2014
£m
2013
£m
Expiring between one and two years 125 1,600
Expiring in more than two years 2,600 1,225
2,725 2,825
All facilities incur commitment fees at market rates and would provide funding at floating rates.
98 Tesco PLC Annual Report and Financial Statements 2014
Notes to the Group financial statements continued