Lendlease Annual Report 2022

Financial Statements 143 June 2022 June 2021 16.a. Borrowings – Measured at Amortised Cost $m $m Current Commercial notes - 555 Total current - 555 Non Current Commercial notes 2,082 1,682 Bank credit facilities 275 120 Total non current 2,357 1,802 Total borrowings 2,357 2,357 The Group has net debt of $1,060 million (30 June 2021: $695 million) and is 7.3 per cent (30 June 2021: 5.0 per cent) geared at the balance sheet date. The Group's gearing is calculated as net debt to total tangible assets, less cash. June 2022 June 2021 16.b. Finance Facilities $m $m The Group has access to the following lines of credit: Commercial Notes Facility available 2,082 2,237 Amount of facility used (2,082) (2,237) Amount of facility unused - - Bank Credit Facilities Facility available 2,798 3,264 Amount of facility used (275) (120) Amount of facility unused 2,523 3,144 Bank Overdrafts Facility available and amount unused 124 124 Commercial notes include: • £300 million of guaranteed unsecured notes issued in October 2006 in the UK bond market with a 6.125 per cent per annum coupon matured and was repaid in October 2021 • US$400 million of guaranteed unsecured senior notes issued in May 2016 in the US Reg. S market with a 4.5 per cent per annum coupon maturing in May 2026 • S$300 million of guaranteed unsecured senior notes issued in April 2017 in the Singapore bond market with a 3.9 per cent coupon maturing in April 2027 • $500 million of guaranteed unsecured Green senior notes issued in October 2020 in the Australian bond market with a 3.4 per cent coupon maturing October 2027 • $80 million of unsecured senior medium term notes issued as an A$ private placement in December 2018 with a 5.4 per cent per annum coupon maturing in December 2028 • $300 million of guaranteed unsecured Green senior notes issued in March 2021 in the Australian bond market with a 3.7 per cent coupon maturing March 2031 • £250 million of guaranteed unsecured Green senior notes issued in December 2021 in the Sterling bond market with a 3.5 per cent coupon maturing in December 2033. Bank credit facilities include: • $1,800 million syndicated cash advance facility with Tranche A $900 million and Tranche B $900 million. Tranche A $900 million and Tranche B were cancelled during the financial year • $300 million syndicated loan facility was repaid and cancelled during the financial year • £400 million club bank facility maturing in March 2023 was undrawn as at 30 June 2022 • $235 million A$ syndicated loan facility was repaid and cancelled during the financial year • US$300 million sustainability linked loan maturing in July 2024 was undrawn as at 30 June 2022 • CNY928 million bank facility maturing in January 2025 was drawn to $188 million as at 30 June 2022 • S$300 million sustainability linked loan maturing in February 2025 was drawn to $63 million as at 30 June 2022 • $800 million sustainability linked loan with Tranche A $400 million maturing in November 2025 was undrawn as at 30 June 2022 and Tranche B $400 million maturing in November 2026 was undrawn as at 30 June 2022 • €200 million sustainability linked loan maturing in July 2026 was undrawn as at 30 June 2022. The bank overdraft facilities may be drawn at any time and are repayable on demand. The Group has not defaulted on any obligations in relation to its borrowings and financing arrangements.