Annual Report 2016 - page 190

New World Development Company Limited
176
Financial Section
39 Borrowings
2016
2015
HK$m
HK$m
Long-term borrowings
Secured bank loans
22,130.9
22,958.5
Unsecured bank loans
62,580.7
52,393.8
Other secured loans
2,374.3
Other unsecured loans
1,625.7
1,062.9
Fixed rate bonds and notes payable
41,989.8
33,311.5
Loans from non-controlling shareholders (note (b))
969.1
1,168.6
131,670.5
110,895.3
Current portion of long-term borrowings
(16,828.1)
(27,256.9)
114,842.4
83,638.4
Short-term borrowings
Secured bank loans
49.4
65.4
Unsecured bank loans
1,463.8
2,330.9
Other secured loans
625.0
Other unsecured loans
5.0
256.3
Loans from non-controlling shareholders (note (b))
1,743.4
2,983.6
3,261.6
6,261.2
Current portion of long-term borrowings
16,828.1
27,256.9
20,089.7
33,518.1
Total borrowings
134,932.1
117,156.5
Notes:
(a)
Bank loans, other loans and fixed rate bonds and notes payable are repayable as follows:
Bank loans
Other loans
Fixed rate bonds
and notes payable
2016
2015
2016
2015
2016
2015
HK$m
HK$m
HK$m
HK$m
HK$m
HK$m
Within one year
14,152.6
29,640.6
344.2
894.1
3,849.5
In the second year
10,739.5
12,425.7
362.7
3,709.8
3,868.4
In the third to fifth year
59,483.8
33,000.3
3,660.8
687.4
18,480.8
16,440.6
After the fifth year
1,848.9
2,682.0
15,949.7
13,002.5
86,224.8
77,748.6
4,005.0
1,944.2
41,989.8
33,311.5
(b)
Loans from non-controlling shareholders
The loans of HK$504.8 million (2015: HK$238.9 million) are unsecured and interest bearing at 2.2% over HIBOR (2015: 6.2%) per annum.
The remaining loans are unsecured and interest free. A total amount of HK$969.1 million (2015: HK$1,168.6 million) is not repayable
within the next 12 months and the remaining balances have no specific repayment term.
(c)
Effective interest rates
2016
2015
Hong
Kong
dollar
Renminbi
United
States
dollar
Others
Hong
Kong
dollar
Renminbi
United
States
dollar
Others
Bank loans
2.1% 5.6% 2.1% 2.0%
2.1% 6.5% 6.2% 2.2%
Fixed rate bonds and notes payable
5.6% 5.5% 5.6%
5.6% 5.5% 6.0%
Loans from non-controlling
shareholders
2.7%
2.5% 6.2%
Other secured loans
6.5%
10.1%
Other unsecured loans
3.0% 7.2%
2.8% 7.6%
(d)
Carrying amounts and fair values of the borrowings
The fair value of the fixed rate bonds and notes payable at the end of the reporting period is HK$44,172.4 million (2015: HK$35,035.4
million). The carrying amounts of other borrowings approximate their fair values.
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