18. LOANS AND BORROWINGS Note Group Company 30.6.2022 RM’000 30.6.2021 RM’000 30.6.2022 RM’000 30.6.2021 RM’000 Non-current Term loans 18.1 20,182 16,007 – – Secured bonds 18.2 212,602 – – – 232,784 16,007 – – Current Term loans 18.1 58,890 36,793 – – Revolving credits 18.3 23,000 23,000 23,000 23,000 Other bank facilities 18.4 – 7,642 – – Bank overdrafts 18.5 4,685 2,938 – – 86,575 70,373 23,000 23,000 319,359 86,380 23,000 23,000 18.1 The Group’s term loans bore effective interest rates ranging from 4.60% to 6.15% (30.6.2021: 4.35% to 7.15%) per annum and are secured by: (i) a first party legal charge over certain freehold land and buildings as disclosed in Note 3 to the financial statements; (ii) a corporate guarantee of the Company; (iii) a guarantee by a director of the Group to a term loan of RM52,000; and (iv) pledges over deposits with licensed banks through an execution of Memorandum of Deposit as disclosed in Note 15 to the financial statements. During the financial year, the following securities were discharged due to settlement of a term loan: (i) a first party legal charge over a vessel as disclosed in Note 3 to the financial statements; (ii) pledges over the entire shares of its subsidiary; (iii) a legal assignment or its equivalent over any contract(s) entered into by its subsidiary with any third party for the chartering of the vessel; and (iv) a security over all rights, benefits and interests from/under all insurances relating to the vessel. 18.2 In July 2021, the Group established its secured bonds through its indirect subsidiary, Ping Petroleum UK PLC with a nominal value of USD50.0 million with an effective interest rate of 12% per annum and is secured by: (i) a pledge over an Escrow Account; and (ii) a pledge over an interest retention account. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) DAGANG NeXCHANGE BERHAD 266
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