Annual Report & Accounts 1999 - Anglo Irish Bank

44
Notes to the Financial Statements (continued)
21. Subordinated Liabilities
1999 IR£m 1998 IR£m
IR£ Floating Rate Bonds 1998 – 30.2
IR£ Floating Rate Bonds 1999 2.6 6.4
US$ 9.1% Subordinated Notes 2006 14.7 13.3
US$ 9.05% Subordinated Notes 2009 11.0 10.0
STG£ Floating Rate Bonds 2091 24.3 22.8
STG£ Undated 9.875% Subordinated Notes 60.3 56.3
Other Subordinated Liabilities 20.8 10.2
Repayable as Follows:
133.7 149.2
One Year or Less 7.6 32.0
Between One and Two Years 1.2 7.6
Between Two and Five Years 14.6 6.2
Over Five Years 110.3 103.4
133.7 149.2
All of the above issues have been issued by the parent bank and are unsecured and subordinated in the right of repayment to the ordinary
creditors,including depositors of the bank.There is no foreign exchange rate exposure as the proceeds of these issues are retained in their
respective currencies.
By entering into a swap transaction, the group has covered its liabilities under the Stg£ Floating Rate Bonds 2091 from July 1991 to July 2091.
As this swap represents a hedge against these bonds, it has been valued accordingly on an actuarial basis and is included in other assets (Note 15)
at IR£24.3m (1998: IR£22.8m).