pdf - 1.26 MB - Ahli United Bank

ahliunited.com

pdf - 1.26 MB - Ahli United Bank

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

20 SUBORDINATED LIABILITIES

These borrowings are subordinated to the claims of all other creditors of the respective banks.

(a) Ahli United Bank B.S.C.

– US Dollars – non-convertible portion (50%) of Class A Non-Cumulative

Preference Shares carrying interest at 1.50% over twelve-month LIBOR,

repayable on 1 January 2015, with an issuer option to redeem after 1 January

2010 subject to three months notice (also refer note 21 (e)).

– US Dollars – interest at three-month LIBOR plus a margin of 0.95% up to 2

December 2010 and margin of 1.45% thereafter, repayable on 2 December

2015 with an issuer option to redeem after 2 December 2010 subject to one

month notice.

2008 2007

US$ ’000 US$ ’000

225,000 225,000

100,000 100,000

– Great Britain Pounds – interest at six-month LIBOR plus 1.00%, repayable in 2012. 29,131 40,070

– US Dollars- interest at six-month LIBOR plus a margin of 0.82%, repayable on

15 December 2016, convertible into ordinary shares at the holder’s option at

the rate of US$ 1.24 per share between the third and sixth anniversary from

the loan agreement dated 18 November 2006 (also refer note 24).

– US Dollars - interest at 6.5% p.a., repayable at 5 years and one day with an

issuer option to extendable for a further period of 5 years and one day at 7%

per annum.

200,000 200,000

50,000 -

79

ANNUAL REPORT 2008

(b) Ahli United Bank (U.K.) PLC

– US Dollars – interest at three-month LIBOR plus ¾%, repayable in 2013. 2,267 -

– Great Britain Pounds - interest at six-month LIBOR plus ¾%, repayable in 2013. 2,340 -

– Great Britain Pounds - interest at six-month LIBOR plus ¾%, repayable in 2011. 1,532 2,108

– US Dollars - interest at six-month LIBOR plus ¾%, repayable in 2011. 1,485 1,485

– Great Britain Pounds - interest at six-month LIBOR plus ¾%, repayable at 5

years and one day notice. 6,004 11,478

– US Dollars - interest at three-month LIBOR plus ¾%, repayable at 5 years and

one day notice. 5,817 8,083

623,576 588,224

More magazines by this user
Similar magazines