asked the Minister for Finance the total amount of loans from all sources negotiated by the Government since July 1977; the terms of repayment of capital and interest in all cases; and the conditions in relation to how the money may be used.
Written Answers . - Government Loans .
129.
: Foreign borrowings negotiated by the Government since July 1977 amount to the equivalent of £217 million. This comprises an issue of Yen Bonds of £33 million, the negotiation of which was initiated prior to July 1977, and syndicated credits totalling £184 million to replace at lower cost and for longer maturities similar credits negotiated in previous years. In addition, six European Investment Bank (EIB) loans were arranged and there were two domestic issues totalling £50 million, 8½ per cent Funding Loan, 1981 and 11½ per cent Development Loan 1997-1999. Details of the external loans and credit facilities are as follows:—
European Investment Bank Loans
|
Amount |
Terms |
|
U.S. $9.468 million |
Interest Rate: 8.55% per annum. |
|
D.M. 9.289 million |
Loan repayable in instalments between 1982 and 1992 |
|
U.S. $2.459 million |
Interest Rate: 8.55% per annum. |
|
D.M. 2.413 million |
Loan repayable in instalments between 1982 and 1992 |
|
U.S. $2.828 million |
Interest Rate: 8.55% per annum |
|
D.M. 2.775 million |
Loan repayable in instalments between 1982 and 1992 |
|
U.S. $30.964 million |
Interest Rate: 9.60% per annum |
|
Loan repayable in instalments between 1980 and 1997 |
|
|
U.S. $23.860 million |
Interest Rate: 9.60% per annum. |
|
Loan repayable in instalments between 1980 and 1997 |
|
|
U.S. $1.295 million |
Interest Rate: 7.45% per annum. |
|
D.M. 2.620 million |
Loan repayable in instalments between 1980 and 1986 |
Other Loans
|
Amount |
Terms |
|
Yen 15,000 million |
Interest Rate:7.2% per annum. |
|
Loan repayable in instalments between 1983 and 1989 |
|
|
U.S. $340 million |
Interest Rate: a fixed margin of ¾% over the London Interbank Offered Rate. |
|
Loan repayable in instalments between 1982 and 1988 |
Apart from the EIB loans which have to be used to finance specific projects no conditions are attached to any of the loans.