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		prev: Other creditors - amounts falling due within one year next: Other creditors - amounts falling due after one year back: Notes to the accounts back: Financial statements menu pdf [1,644k] 20 Borrowings – amounts falling due after one year   2003 £m 2002 £m Unsecured Bank loans 115 213 4½% Notes 2005 1 177 177 6⅜% Notes 2007 1 310 310 7⅜% Notes 2016 200 200 5.84% Notes 2010 2 104 — 6.38% Notes 2013 2 128 — 6.55% Notes 2015 2 47 — Other loan 2009 (interest rate nil) 2 4 Secured Bank loans 3 14 Obligations under finance leases payable: 3 Between one and two years 39 7 Between two and five years 27 70 After five years 3 — Zero-coupon bonds 2005/2007 (including 9.0% interest accretion) 4 42 43 1,1975 1,038 Repayable Between one and two years – by instalments 27 92 Between one and two years – otherwise 239 59 Between two and five years – by instalments 50 121 Between two and five years – otherwise 389 546 After five years – by instalments 13 20 After five years – otherwise 479 200 1,197 1,038 1 The Group has borrowed through a subsidiary €756m in order to provide a loan for general purposes. These notes are the subject of currency swap agreements under which counterparties have undertaken to pay amounts at fixed rates of interest and exchange in consideration for amounts payable by the subsidiary at variable rates of interest and at fixed exchange rates. 2 The Group has borrowed through a subsidiary US$500m in the US Private Placement market. This borrowing is the subject of interest rate swap agreements under which the Group has undertaken to pay floating rates of interest. The borrowing forms part of a net asset hedging arrangement. 3 Obligations under finance leases are secured by related leased assets. 4 Secured on aircraft financed by joint arrangements. Repayment of the zero-coupon bonds is also guaranteed by a subsidiary. 5 The Company has provided guarantees in respect of borrowings of subsidiary undertakings of £1,031m.