222 REDISCOVER | REBUILD | SUSTAIN Notes to the financial statements - 31 December 2015 18. Other financial assets and financial liabilities (cont’d.) (c) Interest-bearing loans and borrowings (cont’d.) Group Corporation 2015 2014 2015 2014 RM’000 RM’000 RM’000 RM’000 Total borrowings Term loans (Note 34) 6,488,792 8,458,522 – – Hire purchase 15,611 15,641 – – Revolving credit – 265,000 – – Loans from subsidiary – – 1,756,317 4,146,669 6,504,403 8,739,163 1,756,317 4,146,669 (i) The Group had in March 2015 made full repayment of its Japan Bank for International Cooperation facility of RM256.4 million. (ii) The Group raised USD212.8 million Term Loan Facility on 25 March 2015. This facility is subject to floating interest rate of 3 months LIBOR + 1.00%. However, during the year, the Group entered into an interest rate swap arrangement to hedge 26% of the outstanding amount which is subject to fixed interest rate of 1.90% + 1.00% and will mature on 6 May 2022. (iii) The Group made full repayments of its revolving credit facility in the current financial year. (iv) On 22 June 2015, the Group entered into an interest rate swap arrangement to hedge 50% of the outstanding USD1.0 billion Term Loan Facility. Under this arrangement, the Group pays fixed interest rate of 1.31% + 1.05% per annum and receives cash flows at floating rate. This arrangement will mature on 20 September 2018. (v) The Group made early repayments of the USD1.0 billion and USD1.55 billion Term Loan Facility which were due on 20 September 2018 and 29 June 2021 respectively. The total amount prepaid is USD870 million (RM3,397,297,800). Included in the outstanding borrowings are loans obtained from the financial institutions related to the Government of Malaysia amounting to RM18,597,000 (2014: RM41,027,000).
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