| |
| |
The
Group
2004
£m |
The
Group
2003
£m |
The
Company
2004
£m |
The
Company
2003
£m |
| Repayable between two years and five years |
367 |
– |
367 |
– |
| On 1 August 2003, 3i Group plc issued €550 million 1.375%
Convertible Bonds due 2008. They are convertible at the option of the Bondholder
to ordinary shares at any time from 11 September 2003 to 25 July 2008. The
number of shares to be issued on conversion will be determined by dividing
the principal of the bond by the conversion price in effect on the conversion
date. The initial conversion price is £8.416757. Unless previously realised
and cancelled, redeemed or converted, these bonds will be redeemed on 1
August 2008. |
| If certain conditions are met, the Issuer may redeem all,
but not some only, of the Bonds for the time being outstanding at their
principal amount. The Issuer may make a payment in cash as an alternative
to issuing shares upon either conversion or redemption. |
| Interest is payable on the bonds in equal semi annual instalments
in arrears on 12 January and 12 July each year. |
| The fair value of the convertible bonds at 31 March 2004 was
£374 million. |
