Annual Report - Ahli United Bank

ahliunited.com

Annual Report - Ahli United Bank

19 SUBORDINATED LIABILITIESThese borrowings are subordinated to the claims of all other creditors of the respective banks.2009 2008US$ ’000 US$ ’000(a) Ahli United Bank B.S.C.– US Dollars – non-convertible portion (50%) of Class A non-cumulative preferenceshares carrying interest at 1.50% over twelve-month LIBOR, repayable on 2 January2015, with an issuer option to redeem after 1 January 2010 subject to three monthsnotice (also refer note 20 (e)).– US Dollars – interest at three-month LIBOR plus a margin of 0.95% up to 2 December2010 and margin of 1.45% thereafter, repayable on 2 December 2015 with an issueroption to redeem after 2 December 2010 subject to one month notice (also refer note 4).225,000 225,00075,000 100,000– Great Britain Pounds – interest at six-month LIBOR plus 1.00%, repayable in 2012. 31,849 29,131– US Dollars - interest at six-month LIBOR plus a margin of 0.82%, repayable on 15December 2016, convertible into ordinary shares at the holder’s option at the rate ofUS$ 1.24 per share between the third and sixth anniversary from the loan agreementdated 18 November 2006 (also refer note 23).– US Dollars - interest at 6.5% p.a., repayable at 5 years and one day with an issueroption to extend for a further period of 5 years and one day at 7% per annum.200,000 200,00050,000 50,000(b) Ahli United Bank (U.K.) PLC– US Dollars – interest at six-month LIBOR plus ¾%, repayable in 2013. 2,267 2,267– Great Britain Pounds - interest at six-month LIBOR plus ¾%, repayable in 2013. 2,558 2,340– Great Britain Pounds - interest at six-month LIBOR plus ¾%, repayable in 2011. 1,675 1,532– 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 andone day notice.– US Dollars - interest at six-month LIBOR plus ¾%, repayable at 5 years and one daynotice.6,565 6,0045,817 5,817602,216 623,576AUB Annual Report 200973

More magazines by this user
Similar magazines