Terms and debt repayment schedule

The principal economic terms and conditions of outstanding borrowings, along with fair value and carrying value, were as follows:

CurrencyYear of final repaymentFair
Carrying valueFair
Carrying value
Borrowings in fair value hedge relationships2,440.02,590.52,749.32,765.8
4.25% 500m bondEUR2020449.7441.9
5.75% 375m bondGBP2022405.1399.4424.5406.2
2.0% 450m bondGBP2025451.8468.5453.1456.7
2.867% 320m bondHKD202633.435.931.532.3
2.92% 739m bondHKD202677.283.472.774.9
1.129% 52m bondEUR202744.248.645.246.0
2.37% 830m bondHKD202782.793.378.782.0
5.625% 300m bondGBP2027380.6398.7390.7393.5
5.02% JPY 10bn dual currency loanJPY/USD202994.5106.892.099.4
2.058% 30m bondEUR203026.830.226.927.9
2.625% 350m bondGBP2031366.4380.5260.0253.0
1.641% 30m bondEUR203125.728.926.226.4
2.9% 600m bondHKD203162.267.258.956.3
1.707% 28m bondEUR203223.828.724.326.0
1.653% 26m bondEUR203221.926.222.323.7
1.70% 30m bondEUR203325.330.825.827.9
2.0% 50m bondGBP203351.453.3
5.0% 200m bondGBP2035267.0310.1266.8291.7
Borrowings designated at fair value through profit or loss397.5397.5373.9373.9
6.875% 400m bondUSD2028397.5397.5373.9373.9
Borrowings measured at amortised cost5,996.05,375.15,781.94,676.1
Short-term bank borrowings – fixedGBP2020192.2192.2152.0152.0
1.61%+RPI 50m EIB IL loanGBP202068.167.068.565.3
1.73%+RPI 50m EIB IL loanGBP202068.166.968.565.2
1.84%+RPI 50m EIB IL loanGBP202068.166.968.665.1
1.90%+RPI 50m EIB IL loanGBP202068.166.868.665.1
1.93%+RPI 50m EIB IL loanGBP202068.066.768.665.0
1.88%+RPI 50m EIB IL loanGBP202067.966.668.464.9
2.10%+RPI 50m EIB IL loanGBP202067.966.568.664.8
2.46%+RPI 50m EIB IL loanGBP202068.266.669.064.9
0.80%+LIBOR 100m loanGBP202299.7100.0102.6100.0
0.47%+RPI 100m IL loanGBP2023121.2118.1121.3115.0
0.49%+RPI 100m IL loanGBP2025118.9113.6120.3110.7
0.013%+RPI 25m IL bondGBP202529.128.329.927.6
0.1275%+RPI 100m IL loanGBP2026116.2112.1117.5109.2
0.01%+RPI 20m IL bondGBP202823.123.623.423.2
1.23%+RPI 50m EIB (amortising) IL loanGBP202943.640.848.144.2
0.288%+CPI 100m IL loanGBP2029110.3101.3
1.29%+RPI 50m EIB (amortising) IL loanGBP202945.942.850.546.1
1.12%+RPI 50m EIB (amortising) IL loanGBP202945.342.549.745.7
1.10%+RPI 50m EIB (amortising) IL loanGBP202945.242.449.745.7
0.75%+RPI 50m EIB (amortising) IL loanGBP202946.143.750.346.8
0.76%+RPI 50m EIB (amortising) IL loanGBP203046.043.550.346.6
1.15%+RPI 50m EIB (amortising) IL loanGBP203046.643.451.046.5
1.11%+RPI 50m EIB (amortising) IL loanGBP203046.743.551.146.6
0.178%+RPI 35m IL bondGBP203042.239.643.338.6
0.245%+CPI 20m IL bondGBP203120.721.421.221.0
0.01%+RPI 38m bondGBP203143.844.244.743.3
3.375%+RPI 50m IL bondGBP2032105.181.7126.279.5
0.709%+LIBOR 100m EIB (amortising) loanGBP203271.375.081.081.2
0.691%+LIBOR 150m EIB (amortising) loanGBP2032110.4117.2126.0126.6
0.573%+LIBOR 100m EIB (amortising) loanGBP203375.581.386.487.5
0.511%+LIBOR 150m EIB (amortising) loanGBP2033117.7126.6133.6135.9
2.0% 250m bondGBP2033257.0245.7
0.01%+RPI 100m EIB (amortising) IL loanGBP2033100.198.0106.7102.2
0.01%+RPI 75m EIB (amortising) IL loanGBP203475.073.480.076.6
0.01%+RPI 75m EIB (amortising) IL loanGBP203475.075.682.378.7
0.01%+RPI 75m EIB (amortising) IL loanGBP203475.075.682.378.7
1.9799%+RPI 100m IL bondGBP2035204.0152.7217.8148.6
0.873%+LIBOR 100m EIB (amortising) loanGBP203591.396.9100.6100.0
0.840%+LIBOR 75m EIB (amortising) loanGBP203569.375.075.975.0
0.01%+RPI 26.5m IL bondGBP203630.332.831.732.3
0.379%+CPI 20m IL bondGBP203620.121.321.321.0
0.01%+RPI 29m IL bondGBP203632.433.934.633.2
0.093%+CPI 60m IL bondGBP203757.363.660.662.5
1.66%+RPI 35m IL bondGBP203760.549.062.947.7
1.75% 250m bondGBP2038232.1248.0
2.40%+RPI 70m IL bondGBP2039129.695.5138.093.0
1.7829%+RPI 100m IL bondGBP2040193.5151.1221.9147.0
1.3258%+RPI 50m IL bondGBP2041100.775.4102.973.4
1.5802%+RPI 100m IL bondGBP2042147.3150.6215.5146.6
1.5366%+RPI 50m IL bondGBP204337.930.143.629.2
1.397%+RPI 50m IL bondGBP204694.275.3109.373.3
0.359%+CPI 32m IL bondGBP204828.233.532.332.9
1.7937%+RPI 50m IL bondGBP204997.175.0122.972.9
Commission for New Towns (amortising) loan – fixedGBP205350.726.854.627.4
1.847%+RPI 100m IL bondGBP2056194.6147.7229.9143.9
1.815%+RPI 100m IL bondGBP2056188.8147.1228.0143.3
1.662%+RPI 100m IL bondGBP2056186.1146.8221.6143.0
1.5865%+RPI 50m IL bondGBP205692.873.4109.371.5
1.591%+RPI 25m IL bondGBP205646.336.654.635.6
1.556%+RPI 50m IL bondGBP205692.473.0108.871.1
1.435%+RPI 50m IL bondGBP205690.072.7106.170.8
1.3805%+RPI 35m IL bondGBP205662.350.973.549.6
1.585%+RPI 100m IL bondGBP2057284.1141.3215.3137.6
0.387%+CPI 33m IL bondGBP205726.734.232.333.6
1.702%+RPI 50m IL bondGBP205793.671.3111.269.4
Book overdrafts (see note 16)GBP202014.914.914.714.7
Lease liabilitiesGBPvarious57.657.6

IL        Index-linked debt – this debt is adjusted for movements in the Consumer or Retail Prices Indices with reference to a base CPI or RPI established at trade date.

CPI        The UK general index of consumer prices (for all items) as published by the Office for National Statistics (May 2015 = 100).

RPI        The UK general index of retail prices (for all items) as published by the Office for National Statistics (Jan 1987 = 100).

EIB        Borrowings that are held with the European Investment Bank.

Borrowings in the above table are unsecured. Funding raised in foreign currencies is swapped to sterling to match funding costs to income and assets.

During the year, the group issued a further £100 million fixed rate notes in addition to the £250 million fixed rate notes issued in the prior year. These notes were issued under the same terms with year of final repayment being 2031 and coupon rate of 2.625 per cent.