Loans and other borrowings

12 Months Ended

Dec. 31, 2022

21. Loans and other borrowings


	Maturity date		Discount at issue %		2022 $m		2021 $m
Current
Bank overdrafts (note 18)		n/a		n/a		55		59
£173m 3.875% bonds 2022		28 November 2022		1.213		–		233
						55		292
Non-current
€ 500m 1.625% bonds 2024		8 October 2024		0.437		534		565
£300m 3.75% bonds 2025		14 August 2025		0.986		365		408
£350m 2.125% bonds 2026		24 August 2026		0.550		423		473
€ 500m 2.125% bonds 2027		15 May 2027		0.470		539		570
£400m 3.375% bonds 2028		8 October 2028		1.034		480		537
						2,341		2,553
Total loans and other borrowings						2,396		2,845

Denominated in the following currencies:
Sterling						1,269		1,652
US dollars						53		57
Euros						1,073		1,135
Other						1		1
						2,396		2,845

Bonds

Interest is payable annually on the dates in the table, at the rates stated.

Revolving Credit Facility

There were no amounts drawn as at 31 December 2022 or 31 December 2021.

In April 2022, the Group’s $1,275m revolving syndicated bank facility and $75m revolving bilateral facility were refinanced with a $1,350m Revolving Credit Facility (‘RCF’). The facility matures in 2027, with options to extend for a further two years. A variable rate of interest is payable on amounts drawn. No amounts were drawn throughout 2022 (2021: both facilities were undrawn).

In addition to the RCF, the Group has access to $30m of uncommitted facilities (2021: $50m) which were also undrawn at 31 December 2022 and 31 December 2021.