in PDF - Hongkong Land

22 Borrowings continued
The convertible bonds are recognised in the consolidated balance sheet as follows:
2008 2007
US$m
US$m
Liability component at 1st January 349.3 340.6
Interest expense at effective interest rate 20.1 19.7
Interest expense at coupon rate (11.0 ) (11.0 )
Liability component at 31st December 358.4 349.3
The borrowings are further summarised as follows:
Fixed rate borrowings
Weighted Weighted Floating
average average period rate
interest rates outstanding borrowings Total
% Years US$m US$m US$m
By currency
2008
Hong Kong Dollar 3.6 1.8 900.6 1,091.9 1,992.5
Singapore Dollar 2.4 2.7 651.9 714.0 1,365.9
United States Dollar 5.5 4.0 358.6 2.5 361.1
1,911.1 1,808.4 3,719.5
2007
Hong Kong Dollar 4.8 2.1 798.7 1,058.7 1,857.4
Singapore Dollar 3.1 3.7 534.7 790.0 1,324.7
United States Dollar 5.5 5.0 349.3 3.1 352.4
Vietnamese Dong 9.1 – – 0.3 0.3
1,682.7 1,852.1 3,534.8
The weighted average interest rates and period of fixed rate borrowings are stated after taking into account hedging
transactions.
The remaining contractal maturities of the borrowings, including the contractual interest payments, are analysed as follows:
2008 2007
US$m
US$m
Within one year 219.7 291.5
Between one and two years 572.3 275.8
Between two and five years 2,545.9 2,404.1
Beyond five years 786.2 1,253.1
4,124.1 4,224.5
Annual Report 2008 45