Annual Report and Accounts 2009

Notes to the Consolidated Financial Statements for the year to 31 December 2009

18. Bank loans and overdrafts

  2009
£m
2008
£m
Bank overdrafts repayable on demand 12.7 22.6
Bank loans 148.4 1,289.9
  161.1 1,312.5
 
Amount due for settlement within one year 12.7 23.4
Amount due for settlement after one year 148.4 1,289.1
Total bank borrowings 161.1 1,312.5
  Bank overdraft
£m
Bank loans
£m
Analysis of borrowings by currency:
31 December 2009  
Sterling 41.2
Canadian dollars 12.7
Euros 107.2
Ghanaian cedis
US dollars
  12.7 148.4
31 December 2008  
Sterling 0.1 1,030.0
Canadian dollars 18.4
Euros 106.3
Ghanaian cedis 4.1
US dollars 153.6
  22.6 1,289.9

Bank borrowings and overdrafts are arranged at floating rates of interest, from 3% to 4% (2008: 3.82% to 19.75%).

Secured bank loans and overdrafts outstanding totalled £12.7m (2008: £23.4m). Secured bank loans and overdrafts are secured on certain fixed asset properties and land.