2003
2002
Notes to the Consolidated Balance Sheet
Long-term borrowings
Amounts falling due after more than
one year relate to:
Bond loan from credit institutions, in
average effective interest rate 4.375%
Bond loan from credit institutions, in
average effective interest rate 5%
Loans from credit institutions, in
average effective interest rate 5.3%
(2002: 5.2%)
Loans from credit institutions, in PLN,
average interest rate 5.97% (2002: 3.62%)
Loans from credit institutions, in
average interest rate 4% (2002:4%)
Loans from credit institutions, in
average interest rate 4.1% (2002:4.3%)
Loans from credit institutions, in CLP,
average interest rate 3.66%
Loans from credit institutions, in
average interest rate 2.56%
Loans from credit institutions, in
average interest rate 5.01%
Private loan, in EGP, interest rate 12% (2002:12%)
Private loan, in interest rate 5.8%
Other private loans, in
average interest rate 4.86% (2002: 5.2%)
Other loans, interest free
Total More than 5 years
Total More than 5 years
497
596
387
26
158
506
75
20
202
19
68
114
53
497
596
160
337
1
162
427
110
17
16
18
37
68
118
65
37
20
26
2,721
1,304
1,215
193
Financing activities
Among other loans issued in 2003 were two bond loans
totalling €1,100 million. The bond loans were issued on
4 November 2003, one for €500 million with a coupon
interest rate of 4-375%, maturing in February 2010,
and one for €600 million with a coupon interest rate
of 5.00%, maturing in November 2013. The interest-
bearing loans are carried at face value plus any
premiums and less associated costs. The other liabilities
are carried at face value.
A credit facility for €1,200 million was also contracted
with a syndicate of banks at an interest rate of 0.225%
over Euribor, maturing in December 2008. As at
31 December 2003, this credit facility had not been
drawn on. A number of other loans was also contracted,
mainly at variable interest rates.
Security in the form of mortgages totalling €108
million (2002: €116 million) has been provided in
respect of the other private loans.
INANCIAL STATEMENTS 2003
63