15 FINANCIAL LIABILITIES
(continued)
Finance lease liabilities
(continued)
or tranches in Euro, Sterling, United States dollar, Singapore dollar, Renminbi or, any other
currency agreed between Ascott REIT MTN (Euro) Pte. Ltd. and the relevant dealer of the
programme.
As at 31 December 2014, notes issued by the Group are as follows:
– under the MTN Programme:
(i) $250.0 million (2013: $250.0 million) of fixed rate notes maturing between 2015 to
2018; and
(ii) JPY12.0 billion (2013: JPY5.0 billion) of fixed rate notes maturing between 2018
to 2020.
– under the EMTN Programme:
(i) EUR80.0 million (2013: Nil) of fixed rate notes maturing in 2024.
(c) The weighted average effective interest rates per annum relating to bank loans and medium
term notes at the reporting date for the Group and Trust are 2.87% (2013: 2.94%) and
2.95% (2013: 2.91%) respectively.
Included in the Group’s and the Trust’s bank loans and medium term notes is an amount of
$9,125,000 (2013: $4,854,000) and $3,794,000 (2013: $2,358,000) respectively, relating to
unamortised transaction costs. Transaction costs amortised during the year by the Group
and the Trust of $2,988,000 (2013: $2,684,000) and $1,266,000 (2013: $1,190,000)
respectively, were recognised as finance costs.
Terms and debt repayment schedule
Terms and conditions of outstanding loans and borrowings are as follows:
Currency
Nominal
interest rate
Year of
maturity
Face
value
Carrying
amount
%
$’000
$’000
Group
2014
Medium term notes
EUR
2.75
2024 129,595 128,940
Medium term notes
SGD
3.80 – 4.30 2015 – 2018 250,000 249,793
Medium term notes
JPY
1.65 – 2.01 2018 – 2020 132,480 132,480
Secured fixed rate loans
USD
3.75
2016
9,096
9,053
Secured floating rate loans AUD
4.27
2021
1,450
1,426
Secured floating rate loans EUR
1.13 – 1.57 2015 – 2021 316,735 314,226
Secured floating rate loans GBP
1.86 – 2.46 2016 – 2021
95,250
94,121
Secured floating rate loans JPY
0.65 – 1.12 2018 – 2021 332,984 329,410
Secured floating rate loans MYR
4.81
2021
13,140
13,035
Balance carried forward
1,280,730 1,272,484
Pursuing Growth | 159
