NOTES TO THE FINANCIAL STATEMENTS
(CONT’D)
31 DECEMBER 2015
22.
OTHER FINANCIAL LIABILITIES (CONT’D)
The range of floating interest rates paid per annum was as follows:
Group and Trust
2015
2014
Bank loans
3.28% to 3.82% 3.70% to 4.15%
The ranges of fixed interest rates paid per annum were as follows:
Group
2015
2014
Medium term notes (unsecured)
4.10% to 5.875% 4.25% to 5.875%
Finance leases
14%
14%
The weighted effective interest rates paid per annum were as follows:
Group
Trust
2015
2014
2015
2014
Bank loan (unsecured)
5.73%
4.28% 5.57%
4.28%
Medium term notes (unsecured)
5.11%
5.36%
–
–
22A.
Bank loans
Secured
In December 2014, the Trust drew down on its secured bank loan facility of $155,000,000, maturing in December
2018 at an interest rate of 3.0% per annumplus SGD swap offer rate (“SOR”). An amount of $10,000,000 was repaid
in 2015. As at 31 December 2015, the outstanding bank loan amounted to $145,000,000 (2014: $155,000,000).
The bank loan agreement provides among other matters for the following:
(i)
The Trust to procure that none of its subsidiaries will create or have any outstanding security over
the relevant retail malls and spaces, the shares and the charged assets (collectively “Relevant Assets”).
The carrying amount of the relevant assets at the end of the reporting year was $463,025,000 (2014:
$478,872,000).
ANNUAL REPORT 2015
115
