Annual Report & Accounts 2017/18

111 NI Water Annual Report and Accounts 2017/18 Statutory Accounts B How we are financed NI Water Limited is funded from a number of sources. This section contains the notes to the SOFP. It sets out the borrowings we receive from our Shareholder, the DfI, which is used to partially finance our capital investment programme. We pay interest on our loans and receive interest on any funds which from time- to-time we have available for short term investments. Our capital and reserves note shows the total equity attributable to the Shareholder including the dividend that is paid. For more information on how we are financed see pages 62 to 69. For further information on the relevant accounting policies applied in this section please see section G1. B1 Loans and borrowings This note provides information about the contractual terms of the Group and Company’s interest-bearing loans and borrowings, which are measured at amortised cost. For more information about the Group and Company’s exposure to interest rate and liquidity risk, see Note B4. Group Company At 31 March 2018 £000 At 31 March 2017 £000 At 31 March 2018 £000 At 31 March 2017 £000 Non-current liabilities Capital loan notes 1,082,560 1,013,560 1,082,560 1,013,560 Bank loans 83,311 - - - Finance lease liabilities 112,654 203,710 198,004 203,710 Total 1,278,525 1,217,270 1,280,564 1,217,270 Current liabilities Current portion of bank loans 4,081 - - - Current portion of finance lease liabilities 3,056 4,843 5,706 4,843 Total 7,137 4,843 5,706 4,843 Terms and debt repayment schedule Terms and conditions of outstanding loans were as follows: Group At 31 March 2018 At March 2017 Nominal interest rate Year of maturity Face value £000 Carrying amount £000 Face value £000 Carrying amount £000 Capital loan notes 5.25% 2027 627,560 627,560 627,560 627,560 Capital loan notes Gilt + 0.85% 2027 356,000 356,000 356,000 356,000 Capital loan notes Gilt + 0.85% 2034 99,000 99,000 30,000 30,000 Bank loan – EIB 5.18% 2029 41,788 45,972 - - Bank loan - RBC LIBOR + margin 2030 38,984 41,420 - - PPP finance lease liabilities – Alpha 5.81% 2031 - - 90,378 90,378 PPP finance lease liabilities – Omega 3.67% 2032 112,692 112,692 114,791 114,791 PPP finance lease liabilities – Kinnegar 3.99% 2024 3,018 3,018 3,384 3,384 Total 1,279,042 1,285,662 1,222,113 1,222,113 The secured bank loans are secured over trade receivables within Dalriada Water Limited with a carrying amount of £101,526k .