p 239 MISC BERHAD - Annual Report 2014 18. Other financial assets and financial liabilities (cont’d.) (c) Interest-bearing loans and borrowings (cont’d.) Group Corporation 2014 2013 2014 2013 RM’000 RM’000 RM’000 RM’000 Total borrowings Term loans 8,458,522 4,662,943 – – Hire purchase 15,641 19,634 – – US Dollar Guaranteed Notes *** – 2,301,252 – – Islamic Private Debt Securities Al Murabahah Medium Term Notes *** – 1,300,000 – 1,300,000 Revolving credit 265,000 290,000 – – Loans from subsidiary – – 4,146,669 2,436,954 Revolving credit from holding company – 1,645,000 – 1,645,000 8,739,163 10,218,829 4,146,669 5,381,954 * In the previous financial year, the Group raised USD1.0 billion Term Loan Facility. This loan is subject to floating interest rates of 3 months LIBOR + 1.05%. In the current financial year, the Group paid floating interest rates of 1.29% (2013: 1.30%) for this loan. The Group raised USD1.55 billion Term Loan Facility in the current financial year and drew USD700,000,000 and USD850,000,000 from the facility in June 2014 and July 2014 respectively. USD1,150,000,000 of the facility is subject to floating interest rate of 3 months LIBOR + 1.13%, while the remaining USD400,000,000 is subject to floating interest of 3 months LIBOR + 0.70%. The Group paid floating interest rates of 0.96% to 1.39% in respect of this USD1.55 billion term loan in the current year. ** The Corporation made early settlement of the revolving credit from holding company which were due and payable on 31 January 2016. *** The Group had in July 2014 made full repayments of its Islamic Private Debt Securities Al Murabahah Medium Term Notes Facility and US Dollar Guaranteed Notes Facility. Included in the outstanding borrowings are loans obtained from the financial institutions related to the Government of Malaysia amounting to RM41,027,000 (2013: RM51,481,000).
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