Lendlease Annual Report 2024

Financial Statements 131 June 2024 June 2023 16.a. Borrowings – Measured at Amortised Cost $m $m Current Bank credit facilities 9 19 Total current 9 19 Non Current Commercial notes 1,789 1,928 Bank credit facilities 2,378 1,334 Total non current 4,167 3,262 Total borrowings 4,176 3,281 The Group has net debt of $3,176 million (June 2023: $2,381 million) and is 21.1% per cent (June 2023: 14.8 per cent) geared at the balance sheet date. The Group's gearing is calculated as net debt to total tangible assets, less cash. June 2024 June 2023 16.b. Finance Facilities $m $m The Group has access to the following lines of credit: Commercial Notes Facility available 1,789 1,928 Amount of facility used (1,789) (1,928) Amount of facility unused - - Bank Credit Facilities Facility available 3,422 2,910 Amount of facility used (2,387) (1,353) Amount of facility unused 1,035 1,557 Bank Overdrafts Facility available and amount unused 124 124 Commercial notes include: • US$400 million of guaranteed unsecured senior notes issued in May 2016 in the US Reg. S market with a 4.5 per cent per annum coupon maturing in May 2026. • S$300 million of guaranteed unsecured senior notes issued in April 2017 in the Singapore bond market with a 3.9 per cent coupon maturing in April 2027. • $500 million of guaranteed unsecured Green senior notes issued in October 2020 in the Australian bond market with a 3.4 per cent coupon maturing in October 2027. • $80 million of guaranteed unsecured senior medium term notes issued as an A$ private placement in December 2018 with a 5.4 per cent per annum coupon maturing in December 2028. • $300 million of guaranteed unsecured Green senior notes issued in March 2021 in the Australian bond market with a 3.7 per cent coupon maturing in March 2031. • £42 million of guaranteed unsecured Green senior notes issued in December 2021 in the Sterling bond market with a 3.5 per cent coupon maturing in December 2033. Bank credit facilities include: • £400 million sustainability linked loan was drawn to $679 million as at 30 June 2024, with $98 million maturing in October 2027 and $581 million maturing in October 2028. • US$300 million sustainability linked loan was drawn to $396 million as at 30 June 2024, with $66 million maturing in July 2025 and $330 million maturing in July 2026. • CNY713 million bank facility maturing in January 2034 was drawn to $144 million as at 30 June 2024. • S$300 million sustainability linked loan maturing in February 2026 was drawn to $322 million as at 30 June 2024. • $800 million sustainability linked loan with Tranche A $400 million maturing in November 2025, was drawn to $295 million as at 30 June 2024 and Tranche B $400 million maturing in November 2026 was drawn to $175 million as at 30 June 2024. • €200 million sustainability linked loan was drawn to $282 million as at 30 June 2024, with $28 million maturing in July 2027 and $254 million maturing in July 2028. • $600 million sustainability linked loan with Tranche C $85 million maturing in September 2026, was drawn to $85 million as at 30 June 2024 and Tranche A $250 million maturing in September 2025 and Tranche B $265 million maturing in September 2026 were undrawn as at 30 June 2024. The Group has an uncommitted facility of $350 million maturing October 2024 which was undrawn as at 30 June 2024. The bank overdraft facilities may be drawn at any time and are repayable on demand. The Group has not defaulted on any obligations in relation to its borrowings and financing arrangements.