Group

The following analysis provides information about the contractual terms of the group's borrowings:

2014
£m
2013
£m
Non-current liabilities
Bonds4,465.94,633.7
Bank and other term borrowings1,490.51,373.7
5,956.46,007.4
Current liabilities
Bonds21.0
Bank and other term borrowings76.0125.9
Bank overdrafts (see note 17)36.919.2
112.9166.1
6,069.36,173.5

Terms and debt repayment schedule

The principal economic terms and conditions of outstanding borrowings, along with fair value and carrying value, were as follows:

CurrencyYear of final
repayment
Fair
value
Carrying
value
Fair
value
Carrying
value
2014
£m
2014
£m
2013
£m
2013
£m
Borrowings in fair value hedge relationships2,100.42,137.62,209.32,329.3
5.375% 150m bondGBP2018173.7167.7179.9178.6
4.55% 250m bondUSD2018161.2164.9178.1189.7
5.375% 350m bondUSD2019231.1239.2256.4277.8
4.25% 500m bondEUR2020473.6476.2485.3495.0
5.75% 375m bondGBP2022432.4409.2451.5441.0
5.625% 300m bondGBP2027347.4363.3362.4394.6
5.02% JPY 10bn dual currency loanJPY/USD202968.179.780.196.6
5% 200m bondGBP2035212.9237.4215.6256.0
Borrowings designated at fair value through profit or loss268.7268.7323.4323.4
1.135% 3bn bondJPY201321.021.0
6.875% 400m bondUSD2028268.7268.7302.4302.4
Borrowings measured at amortised cost3,967.33,663.03,937.33,520.8
Short-term bank borrowings – fixedGBP201475.075.0125.6125.6
6.125% 425m bondGBP2015466.2427.3483.7428.6
1.97%+RPI 200m IL loanGBP2016265.1257.1270.2248.7
1.30%+LIBOR 5bn (floating) bondJPY201730.029.737.335.4
2.46%+RPI 50m IL loanGBP202068.757.972.456.3
2.10%+RPI 50m IL loanGBP202067.257.870.656.3
1.93%+RPI 50m IL loanGBP202066.758.070.056.4
1.90%+RPI 50m IL loanGBP202066.658.169.956.5
1.88%+RPI 50m IL loanGBP202066.457.969.756.3
1.84%RPI 50m IL loanGBP202066.558.169.756.6
1.73%+RPI 50m IL loanGBP202066.158.269.256.6
1.61%+RPI 50m IL loanGBP202065.758.368.756.7
0.47%+RPI 100m IL loanGBP202395.8102.697.599.9
1.29%+RPI 50m IL loanGBP202955.454.858.353.4
1.23%+RPI 50m IL loanGBP202955.055.257.953.7
1.12%+RPI 50m IL loanGBP202953.654.456.452.9
1.10%+RPI 50m IL loanGBP202953.454.356.152.9
0.75%+RPI 50m IL loanGBP202949.553.152.151.7
1.15%+RPI 50m IL loanGBP203052.052.854.951.4
1.11%+RPI 50m IL loanGBP203050.852.954.251.5
0.76%+RPI 50m IL loanGBP203049.353.051.951.5
0.709%+LIBOR 100m (floating) loanGBP203289.2100.0
3.375%+RPI 50m IL bondGBP203297.270.295.968.0
1.9799%+RPI 100m IL bondGBP2035148.8131.7148.4127.7
1.66%+RPI 35m IL bondGBP203745.542.645.341.4
2.40%+RPI 70m IL bondGBP2039102.382.9102.480.6
1.7829%+RPI 100m IL bondGBP2040142.9130.3143.9126.4
1.3258%+RPI 50m IL bondGBP204165.665.064.763.0
1.5802%+RPI 100m IL bondGBP2042137.0129.9137.0126.0
1.5366%+RPI 50m IL bondGBP204368.464.868.462.9
1.397%+RPI 50m IL bondGBP204666.065.066.163.0
1.7937%+RPI 50m IL bondGBP204973.864.769.962.7
Commission for New Towns loan – fixedGBP205351.929.555.929.9
1.847%+RPI 100m IL bondGBP2056150.8128.4142.3125.0
1.815%+RPI 100m IL bondGBP2056148.7127.9140.3124.4
1.662%+RPI 100m IL bondGBP2056142.0127.6133.8124.2
1.591%+RPI 25m IL bondGBP205634.631.832.631.0
1.5865%+RPI 50m IL bondGBP205669.563.865.362.1
1.556%+RPI 50m IL bondGBP205668.463.564.761.8
1.435%+RPI 50m IL bondGBP205665.963.262.061.5
1.3805%+RPI 35m IL bondGBP205645.344.342.643.1
1.702%+RPI 50m IL bondGBP205769.961.966.160.3
1.585%+RPI 100m IL bondGBP2057133.9122.8126.0119.5
Other debt issued by joint venturesEURVarious27.827.828.228.2
Bank overdraftsGBP201436.936.919.219.2
6,336.46,069.36,470.06,173.5
ILIndex-linked debt – this debt is adjusted for movements in the Retail Prices Index with reference to a base RPI established at trade date
RPIThe UK general index of retail prices (for all items) as published by the Office for National Statistics (Jan 1987 = 100)

Borrowings are unsecured. Funding raised in currencies other than sterling is swapped to sterling to match funding costs to income and assets.

Company

The following analysis provides information about the contractual terms of the company's borrowings:

2014
£m
2013
£m
Current liabilities
Bank overdrafts (see note 17)0.6
Amounts owed to subsidiary undertakings1,583.71,558.2
1,584.31,558.2

Borrowings are unsecured and are measured at amortised cost. The carrying amounts of borrowings approximate their fair value.

On 11 April 2014, the company renewed its £1,583.7 million loan with United Utilities PLC.