Notes to the consolidated financial statements - supplementary information
35. Bonds and facilities
The table below shows our significant bonds in issue, being £100m equivalent notional value or greater. Unless otherwise indicated, these instruments were outstanding at both 31 March 2009 and 31 March 2008.
| Issuer | Original Notional Value | Description of instrument | Due |
|---|---|---|---|
| Bonds | |||
| British Transco Finance Inc. | USD 300m | 6.625% Fixed Rate | 2018 |
| British Transco International Finance BV | FRF 2,000m | 5.125% Fixed Rate | 2009 |
| USD 1,500m | Zero Coupon Bond | 2021 | |
| Brooklyn Union Gas Company | USD 153m | NYSERDA 4.7% GFRB’s Series 1996 | 2021 |
| USD 400m | KEDNY 5.6% Senior Unsecured Note | 2016 | |
| KeySpan Corporation | USD 700m | KeySpan MTN 7.625% | 2010 |
| USD 250m | KeySpan MTN 8.00% | 2030 | |
| USD 160m | KeySpan 4.9% Notes (i) | 2008 | |
| USD 307m | KeySpan 5.803% Notes | 2035 | |
| USD 150m | KeySpan 4.65% Notes | 2013 | |
| USD 150m | KeySpan 5.875% Notes | 2033 | |
| KeySpan Gas East Corporation | USD 400m | KeySpan 7.875% Gas East MTN Program | 2010 |
| (National Grid Energy Delivery Long Island) | |||
| KeySpan Ravenswood LLC | USD 412m | Ravenswood Master Lease Notes (i) | 2009 |
| National Grid Electricity Transmission plc | EUR 600m | 4.125% Fixed Rate (i) | 2008 |
| EUR 600m | 6.625% Fixed Rate (ii) | 2014 | |
| GBP 250m | 4.75% Fixed Rate | 2010 | |
| GBP 300m | 2.983% Guaranteed Retail Price Index-Linked | 2018 | |
| GBP 220m | 3.806% Retail Price Index-Linked | 2020 | |
| GBP 450m | 5.875% Fixed Rate | 2024 | |
| GBP 360m | 6.5% Fixed Rate | 2028 | |
| GBP 200m | 1.6449% Retail Price Index-Linked | 2036 | |
| GBP 150m | 1.823% Retail Price Index-Linked | 2056 | |
| GBP 150m | 1.8575% Index-Linked | 2039 | |
| GBP 379m | 7.375% Fixed Rate (ii) | 2031 | |
| National Grid Gas plc | GBP 250m | 8.875% Fixed Rate (i) | 2008 |
| AUD 500m | 7.0% Fixed Rate (i) | 2008 | |
| GBP 300m | 5.375% Fixed Rate | 2009 | |
| GBP 300m | 6.0% Fixed Rate | 2017 | |
| GBP 275m | 8.75% Fixed Rate | 2025 | |
| GBP 100m | 1.6747% Retail Price Index-Linked | 2036 | |
| GBP 115m | 1.7298% Retail Price Index-Linked | 2046 | |
| GBP 100m | 1.6298% Retail Price Index-Linked | 2048 | |
| GBP 100m | 1.5522% Retail Price Index-Linked | 2048 | |
| GBP 300m | 1.754% Retail Price Index-Linked | 2036 | |
| GBP 140m | 1.7864% Index-Linked | 2037 | |
| GBP 100m | 1.9158% Index-Linked | 2037 | |
| GBP 100m | 1.7762% Index-Linked | 2037 | |
| GBP 100m | 1.7744% Index-Linked | 2039 | |
| GBP 100m | 1.8625% Index-Linked | 2039 | |
| GBP 484m | 6.375% Fixed Rate | 2020 | |
| GBP 503m | Floating Rate | 2009 | |
| GBP 503m | 4.1875% Index-Linked | 2022 | |
| GBP 503m | 7.0% Fixed Rate | 2024 | |
| EUR 800m | 5.125% Fixed Rate (ii) | 2013 | |
| EUR 163m | 4.36% EUR-HICP Linked (ii) | 2018 | |
| GBP 444m | 6.0% Fixed Rate (ii) | 2038 | |
| National Grid plc | CAD 200m | 4.98% Fixed Rate | 2011 |
| EUR 500m | 3.75% Fixed Rate (i) | 2008 | |
| EUR 1,000m | 4.125% Fixed Rate | 2013 | |
| EUR 600m | 5.0% Fixed Rate | 2018 | |
| EUR 500m | 4.375% Fixed Rate | 2020 | |
| EUR 600m | Floating Rate | 2010 | |
| EUR 750m | Floating Rate | 2012 | |
| EUR 300m | Floating Rate | 2009 | |
| EUR 450m | Floating Rate (i) | 2008 | |
| GBP 300m | 5.25% Fixed Rate | 2011 | |
| GBP 310m | 5.5% Fixed Rate | 2013 | |
| USD 1,000m | 6.3% Fixed Rate | 2016 | |
| EUR 578m | 6.5% Fixed Rate (ii) | 2014 | |
| GBP 400m | 6.125% Fixed Rate (ii) | 2014 | |
| NGG Finance plc | EUR 750m | 6.125% Fixed Rate | 2011 |
| Niagara Mohawk Power Corporation | USD 600m | 7.75% Senior Notes (i) | 2008 |
| Bank loans and other loans | |||
| National Grid plc | USD 250m | Floating Rate (ii) | 2011 |
| USD 150m | Floating Rate (ii) | 2011 | |
| USD 150m | Floating Rate | 2011 | |
| USD 200m | Floating Rate (ii) | 2010 | |
| National Grid Grain LNG Limited | GBP 120m | Floating Rate | 2014 |
| GBP 140m | Floating Rate | 2023 | |
| National Grid Electricity Transmission plc | GBP 200m | Floating Rate | 2012 |
| GBP 200m | Floating Rate | 2017 | |
| National Grid Gas plc | GBP 200m | Floating Rate | 2012 |
| GBP 180m | 1.88% Retail Price Index-Linked | 2022 | |
| GBP 190m | 2.14% Retail Price Index-Linked | 2022 | |
| National Grid USA | USD 150m | Floating Rate | 2011 |
| National Grid Holdings Limited | GBP 250m | 4.13794% Fixed Rate (ii) | 2011 |
| NGT Five Limited | GBP 500m | 5.917% Index-Linked (ii) | 2013 |
- (i)
- Matured during the year ended 31 March 2009.
- (ii)
- Issued during the year ended 31 March 2009.
No significant bonds have been announced to the market or issued subsequent to 31 March 2009, up to the date of the signing of the accounts.
Borrowing facilities
At 31 March 2009, there were bilateral committed credit facilities of £1,273m (2008: £1,315m), of which £1,180m (2008: £1,235m) were undrawn. In addition, there were committed credit facilities from syndicates of banks of £1,796m at 31 March 2009 (2008: £1,628m), of which £1,796m (2008: £1,628m) were undrawn. An analysis of the maturity of these undrawn committed facilities is shown below:
Undrawn committed borrowing facilities
| 2009 £m |
2008 £m |
|
|---|---|---|
| Expiring: | ||
| In one year or less | 1,155 | 756 |
| In more than one year, but not more than two years | 1,820 | 408 |
| In more than two years | – | 1,699 |
| 2,975 | 2,863 |
At 31 March 2009, of the unused facilities £2,816m (2008: £2,747m) was held as back-up to commercial paper and similar borrowings.