|
|
| Note 7 Net interest payable |
|
| 1997 £m | 1996 £m | |
| __________________ | ||
| Interest receivable and similar income on money market investments and deposits (a) | 34 | 63 |
| __________________ | ||
| Deduct Interest payable on: Short term bank loans and overdrafts repayable within five years | (32) | (49) |
| Finance charges payable on finance leases | (8) | (9) |
| 9% convertible capital bonds 2005 | - | (8) |
| 4% unsecured deep discount loan stock 2006 (b) | (8) | (7) |
| E.C.S.C. loans 1998-1999 (c) | (1) | (5) |
| 10 3/8 % bonds 2002 | (21) | (21) |
| 1/8 % deep discount bonds 2012 (a) | - | (23) |
| 8 3/4 % bonds 2003 | (17) | (17) |
| Interest capitalised | 29 | 33 |
| __________________ | ||
| (58) | (106) | |
| __________________ | ||
| (24) | (43) | |
| __________________ | ||
|
a) The 1/8% deep discount bonds 2012 were redeemed in June 1995. Interest payable for 1996 comprised £3m of discount amortisation and £20m loss on redemption. Gains on cancellation of the associated deposit and financing arrangement of £26m were included within interest receivable. b) Interest payable on the 4% unsecured deep discount loan stock 2006 includes £3m (1996 - £2m) of discount amortisation. c) E.C.S.C. refers to the European Coal and Steel Community. |
||
   
|