| As at 2 January 2010 $ million |
As at 3 January 2009 $ million |
|
|---|---|---|
| Other loans – unsecured | 254.7 | 231.8 |
| Amounts owed to subsidiaries | 12.5 | 94.1 |
| Accruals and deferred income | 5.3 | 4.9 |
| Other creditors | 4.4 | – |
| 276.9 | 330.8 |
Other loans comprise a £150 million bond drawn down by the Company under the Group’s EMTN Programme. The bond is repayable at par on 20 December 2011 and bears interest at a fixed rate of 8% per annum.
The carrying amount of other loans may be analysed as follows:
| As at 2 January 2010 $ million |
As at 3 January 2009 $ million |
|
|---|---|---|
| Maturity analysis: | ||
| – Within one year | 1.8 | 1.6 |
| – Between one and two years | 254.7 | 0.9 |
| – Between two and five years | – | 230.9 |
| 256.5 | 233.4 |
The carrying amount of other loans may be reconciled to the principal amount outstanding as follows:
| As at 2 January 2010 $ million |
As at 3 January 2009 $ million |
|
|---|---|---|
| Carrying amount | 256.5 | 233.4 |
| Accrued interest payable | (0.7) | (0.7) |
| Unamortised transaction costs | 0.2 | 0.3 |
| Fair value hedge adjustment (see note 10) | (14.1) | (13.8) |
| Principal amount | 241.9 | 219.2 |
Amounts owed to subsidiaries classified as falling due after more than one year have no specified terms of repayment and are intended to be settled on a net basis. The Company has received an undertaking from the counterparties that they will not require settlement within one year of the balance sheet date. Generally, these amounts bear interest at floating rates based on prevailing market interest rates applicable to the currencies in which they are denominated.