Notes to the consolidated financial statements – Note 28 <     2015 R’000     2014 R’000   28. Borrowings             Loans secured by mortgage bonds over fixed property (refer note 13) 26 476     13 617     Loans secured by lien over certain property, plant and equipment in terms of financial leases and suspensive sale agreements (refer note 13) 295 975     345 428     Unsecured borrowings 12 434 627     12 452 349     Listed bonds 2 925 000     4 425 000     Listed commercial paper 1 343 593     2 083 385       Cumulative redeemable preference shares 2 200 000     –       Other borrowings 5 966 034     5 943 964     Floorplan creditors secured by pledge of inventories (refer note 21) 827 664     665 814     Borrowings 13 584 742     13 477 208     Bank overdrafts 1 994 365     3 277 988     Total borrowings 15 579 107     16 755 196     Less: Short-term portion of borrowings (8 454 122)     (9 647 029)     Long-term portion of borrowings 7 124 985     7 108 167     Schedule of repayment of borrowings             Year to June 2015       6 369 041     Year to June 2016 6 459 757     2 911 905     Year to June 2017 1 319 275     694 251     Year to June 2018 1 699 003     1 576 374     Year to June 2019 1 755 415     1 833 331     Thereafter 2 351 292     92 306       13 584 742     13 477 208     Total borrowings comprise             Borrowings 13 584 742     13 477 208        Local subsidiaries 8 213 610     7 847 280        Foreign subsidiaries 5 371 132     5 629 928     Overdrafts 1 994 365     3 277 988        Local subsidiaries 1 951 464     3 201 289        Foreign subsidiaries 42 901     76 699       15 579 107     16 755 196       %     %     Effective weighted average rate of interest on             Local borrowings excluding overdrafts 7,2     8,1     Foreign borrowings excluding overdrafts 2,1     2,4       2015     2014       Currency   Nominal interest rate %   Financial year of maturity   Carrying value R’000     Carrying value R’000     Terms and debt repayment schedule                         Terms and conditions of outstanding loans were:                         Borrowings of local subsidiaries             8 213 610     7 847 280     Loans secured by lien over certain property, plant and equipment in terms of financial leases and suspensive sale agreements ZAR   9,2 – 17,8   2017 – 2018   14 503     19 730     Listed bonds ZAR   7,2 – 8,9   2018 – 2019   2 925 000     4 425 000     Listed commercial paper ZAR   6,5 – 6,8   2016   1 343 593     2 083 385        Cumulative redeemable preference shares ZAR   6,1   2020   2 200 000     –        Other borrowings ZAR   6,1 – 12,2   2016 – 2021   902 850     653 351     Floorplan creditors secured by pledge of inventories ZAR   7,5 – 10,0   2016   827 664     665 814     Borrowings of foreign subsidiaries             5 371 132     5 629 928     Loans secured by mortgage bonds over fixed property GBP   1,9 – 2,5   2018 – 2020   12 448     13 617       CZK   1,9   2020   14 028     145 828     Loans secured by lien over certain property, plant and equipment in terms of financial leases and suspensive sale agreements GBP   2,6 – 5,8   2016 – 2019   124 153     27 314       PLN   3,2   2019 – 2020   37 900     152 374       EUR   2,1 – 5,8   2016 – 2020   119 420     183       NAD           –           Other borrowings GBP   1,8 – 9,6   2016 – 2023   365 913     471 982       EUR   1,0 – 10,0   2016 – 2031   2 220 621     2 293 690       HKD   0,9 – 5,1   2016 – 2018   1 172 791     1 123 660       SGD   1,4 – 1,7   2016 – 2018   740 089     652 844       CZK   1,6 – 2,9   2016 – 2019   376 705     485 893       PLN   2,4 – 3,6   2016 – 2020   30 968     48 532       NZD   5,1   2016   25 227     93 287       CLP   2,9 – 7,0   2016 – 2021   62 765     86 481       AED   4,5 – 5,0   2016 – 2021   43 191     25 621       Other   11,6 – 12,5   2016 – 2021   24 913     8 622     Total interest-bearing borrowings             13 584 742     13 477 208     The expected maturity dates are not expected to differ from the contractual maturity dates. Refer note 37 for further disclosure. Notes to the consolidated financial statements – Note 28