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 valueCarrying valueFair valueCarrying value
2017
£m
2017
£m
2016
£m
2016
£m
Borrowings in fair value hedge relationships2,544.62,522.42,293.02,373.0
5.375% 150m bondGBP2018164.3156.8169.6162.5
4.55% 250m bondUSD2018208.1204.7183.9185.6
5.375% 350m bondUSD2019295.3294.8263.2269.3
4.25% 500m bondEUR2020478.9469.7455.9455.1
5.75% 375m bondGBP2022455.4429.3449.5434.5
5.625% 300m bondGBP2027408.7412.1382.7411.1
1.129% 52m bondEUR202743.543.638.441.0
5.02% JPY 10bn dual currency loanJPY/USD202997.7105.881.496.1
2.058% 30m bondEUR203027.026.323.725.1
1.641% 30m bondEUR203125.724.6
2.9% 600m bondHKD203161.156.4
5.0% 200m bondGBP2035278.9298.3244.7292.7
Borrowings designated at fair value through
profit or loss
375.5375.5338.0338.0
6.875% 400m bondUSD2028375.5375.5338.0338.0
Borrowings measured at amortised cost5,682.84,486.64,830.14,267.0
1.97%+RPI 200m EIB IL loanGBP2016269.9267.4
Short-term bank borrowings – fixedGBP2017202.0202.0127.5127.5
1.30%+LIBOR 5bn bondJPY201736.337.331.732.0
2.46%+RPI 50m EIB IL loanGBP202069.360.865.759.3
2.10%+RPI 50m EIB IL loanGBP202068.560.864.759.3
1.93%+RPI 50m EIB IL loanGBP202068.260.964.559.4
1.90%+RPI 50m EIB IL loanGBP202068.261.064.559.5
1.88%+RPI 50m EIB IL loanGBP202068.160.964.259.3
1.84%+RPI 50m EIB IL loanGBP202068.261.164.459.6
1.73%+RPI 50m EIB IL loanGBP202068.061.264.259.6
1.61%+RPI 50m EIB IL loanGBP202067.861.263.959.7
0.80%+LIBOR 100m loanGBP2022102.6100.098.3100.0
0.47%+RPI 100m IL loanGBP2023116.5107.9105.0105.2
0.49%+RPI 100m IL loanGBP2025115.6103.8101.1101.2
0.013%+RPI 25m IL bondGBP202528.125.924.225.2
0.1275%+RPI 100m IL loanGBP2026112.3102.496.4100.0
0.01%+RPI 20m IL bondGBP202822.022.3
1.29%+RPI 50m EIB (amortising) IL loanGBP202957.451.558.654.2
1.23%+RPI 50m EIB (amortising) IL loanGBP202955.149.754.652.5
1.12%+RPI 50m EIB (amortising) IL loanGBP202956.551.057.653.7
1.10%+RPI 50m EIB (amortising) IL loanGBP202956.351.057.453.7
0.75%+RPI 50m EIB (amortising) IL loanGBP202956.551.955.254.4
1.15%+RPI 50m EIB (amortising) IL loanGBP203057.551.556.254.1
1.11%+RPI 50m EIB (amortising) IL loanGBP203057.651.756.254.2
0.76%+RPI 50m EIB (amortising) IL loanGBP203056.451.755.054.3
0.178%+RPI 35m IL bondGBP203040.236.233.635.3
0.245%+CPI 20m IL bondGBP203120.220.0
0.01%+RPI 38m IL bondGBP203142.241.3
3.375%+RPI 50m IL bondGBP2032124.174.2107.672.8
0.709%+LIBOR 100m EIB (amortising) loanGBP203294.993.895.6100.0
0.691%+LIBOR 150m EIB (amortising) loanGBP2032146.4145.3142.9150.0
0.573%+LIBOR 100m EIB (amortising) loanGBP2033100.2100.093.7100.0
0.511%+LIBOR 150m EIB (amortising) loanGBP2033149.6150.0140.0150.0
0.01%+RPI 100m EIB (amortising) IL loanGBP2033107.9102.394.799.7
0.01%+RPI 75m EIB (amortising) IL loanGBP203480.976.771.174.7
0.01%+RPI 75m EIB (amortising) IL loanGBP203480.776.2
0.01%+RPI 75m EIB (amortising) IL loanGBP203480.776.2
1.9799%+RPI 100m IL bondGBP2035212.4138.9171.4136.4
0.379%+CPI 20m IL bondGBP203620.920.0
0.01%+RPI 26.5m IL bondGBP203630.331.0
0.01%+RPI 29m IL bondGBP203632.231.5
1.66%+RPI 35m IL bondGBP203762.744.751.643.6
0.093%+CPI 60m IL bondGBP203759.059.6
2.40%+RPI 70m IL bondGBP2039132.287.2113.585.0
1.7829%+RPI 100m IL bondGBP2040207.5137.5172.8135.0
1.3258%+RPI 50m IL bondGBP204195.768.678.967.3
1.5802%+RPI 100m IL bondGBP2042202.6137.0166.6134.5
1.5366%+RPI 50m IL bondGBP2043102.468.482.567.1
1.397%+RPI 50m IL bondGBP2046102.968.581.867.3
1.7937%+RPI 50m IL bondGBP2049118.068.291.167.0
Commission for New Towns (amortising) loan – fixedGBP205356.128.452.528.7
1.847%+RPI 100m IL bondGBP2056224.1135.0180.8131.6
1.815%+RPI 100m IL bondGBP2056221.5134.4179.4131.0
1.662%+RPI 100m IL bondGBP2056218.2134.2173.1130.8
1.591%+RPI 25m IL bondGBP205652.533.442.432.6
1.5865%+RPI 50m IL bondGBP2056105.867.085.665.3
1.556%+RPI 50m IL bondGBP2056105.366.784.565.0
1.435%+RPI 50m IL bondGBP2056102.566.582.064.8
1.3805%+RPI 35m IL bondGBP205671.046.556.745.3
1.702%+RPI 50m IL bondGBP2057107.965.186.163.5
1.585%+RPI 100m IL bondGBP2057208.6129.1165.1125.9
Book overdrafts (see note 16)GBP201727.527.531.531.5
8,602.97,384.57,461.16,978.0

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.