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CITIC LIMITED
Notes to the Consolidated Financial Statements
For the six months ended 30 June 2016
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28 Bank and other loans
(continued)
(d)
As at 30 June 2016, the Group’s bank and other loans of HK$24,965 million (31 December 2015:
HK$35,620 million) are pledged with cash and deposits, fixed assets and intangible assets with an
aggregate carrying amount of HK$87,824 million (31 December 2015: HK$83,858 million).
(e)
All of the Group’s banking facilities are subject to the fulfilment of covenants relating to balance sheet
ratios or ownership of a minimum shareholding in certain entities of the Group, as are commonly
found in lending arrangements with financial institutions. If the Group were to breach the covenants
the drawn down facilities would become payable on demand. The Group regularly monitors its
compliance with these covenants. Further details of the Group’s management of liquidity risk are set
out in Note 32(b). As at 30 June 2016, none of the covenants relating to drawn down facilities had
been breached (31 December 2015: Nil).
29 Debt instruments issued
30 June
2016
31 December
2015
HK$ million
HK$ million
Corporate bonds issued (note (a))
97,589
72,762
Notes issued (note (b))
67,918
69,244
Subordinated bonds issued (note (c))
89,014
92,840
Certificates of deposit issued (note (d))
12,957
10,390
Certificates of interbank deposit issued (note (e))
341,620
204,536
609,098
449,772
Analysed by remaining maturity:
– Within 1 year or on demand
376,575
219,157
– Between 1 and 2 years
17,336
11,158
– Between 2 and 5 years
69,988
79,894
– Over 5 years
145,199
139,563
609,098
449,772
The Group did not have any defaults of principal, interest or other breaches with respect to its debt
instruments issued during the six months ended 30 June 2016 (six months ended 30 June 2015: Nil).
Certain debt instruments issued were purchased by certain subsidiaries of the Group. These debt
instruments issued were eliminated in full on consolidation.