CROIssANCE dURAbLE - Euronav.com

note 18
interest-bearing loans and borrowings (CONTINUED)
finance lease liabilities
finance lease liabilities are payable
as follows:
(in thousands of USD)
minimum
lease
payments
2008 2007
interest principal
minimum
lease
payments
interest principal
Less than 1 year 13,659 3,779 9,880 14,317 4,724 9,593
Between 1 and 5 years 42,399 6,719 35,680 47,114 10,170 36,944
More than 5 years - - - 8,944 328 8,616
total 56,058 10,498 45,560 70,375 15,222 55,153
The finance lease liability relates to the vessel TI Guardian (see also note 9).
undrawn borrowing facilities
At 31 December 2008, the Group has undrawn borrowing facilities amounting to EUR 65,000,000 (2007: EUR 1,106,000). At the same date, an amount
of USD 71,000,000 (2007: USD 391,170,000) was undrawn on the non-amortising revolving loan facility.
terms and debt repayment
schedule
the terms and conditions of
outstanding loans were as follows
(in thousands of USD)
currency
Secured vessel loan USD
nominal
interest rate
libor
+0.80%/+1,00%
year of
maturity
31 december 2008 31 december 2007
face
value
carrying
value
face
value
carrying
value
2013 1,120,270 1,120,270 1,033,500 1,033,500
Secured FSO loan USD libor +1,15% 2017 39,650 39,650 - -
Secured Vessel loan in JV USD libor +1.1% 2017 13,500 13,500 - -
Secured Vessel loan in JV USD libor+1.15% 2019 6,750 6,750 - -
Secured Vessel loan in JV USD libor+1.225% 2021 7,125 7,125 - -
Unsecured bank facility USD libor +1.00% 2008 20,000 - 10,000 10,000
Unsecured bank facility EUR
euribor
+0.30%/+1,00%
2008 45,000 - 99,146 99,146
Finance lease liabilities USD 9,79% 2013 45,560 45,560 55,153 55,153
total interest-bearing liabilities 1,297,855 1,232,855 1,197,799 1,197,799
euronav
rapport
annuel 2008
71