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THE GROUP PARENT ENTITY

Note
2008
$’000
2007
$’000
2008
$’000
2007
$’000
NOTE 22 — INTEREST BEARING LIABILITIES
AND BORROWINGS CONTINUED
Non-current
Interest bearing liabilities and borrowings
Bank loans — secured
Lease liabilities — secured
Loans from controlled entities
Deferred financing costs
23
30
38
13,931
9,685
—
(744)
132,187
13,502
—
(822)
—
—
14,153
—
—
—
213,115
—
22,872 144,867 14,153 213,115
Non-interest bearing loans
Loans from other companies — unsecured 2,020 2,200 — —
24,892 147,067 14,153 213,115

The Group’s exposure to currency and liquidity risk related to interest bearing liabilities and borrowings is disclosed in Note 28.

NOTE 23 — FINANCING ARRANGEMENTS

Bank debt — secured

The Group’s secured bank debt facilities comprise the following:

• A$160,000,000 of revolving multi-currency loan facilities;
• A$70,000,000 of cash advance facilities;
• A$38,750,000 of credit support facilities (for the issue of letters of credit and bank guarantees); and
• A total of A$5,050,000 in overdraft limits to support its transactional banking facilities.
The above facilities mature on 10 July 2012. These facilities are supported by interlocking guarantees from most Group entities and are secured
by specific property mortgages. Debt drawn under these facilities bear interest at the relevant inter-bank benchmark reference rate plus a margin
of between 0.45% to 0.90%. At 30 June 2008, the Group had drawn $13,931,000 (2007: $132,187,000) under the debt facilities, of which 32%
was subject to interest rate swaps used for hedging.

Other loans — International

In addition to the above facilities, wholly owned subsidiaries in Germany have working capital and bank guarantee facilities totalling c9,920,000
(A$16,273,000) (secured by a letter of credit and bank guarantees drawn under the credit support facility in Australia), and additional working
capital facilities totalling c5,340,000 (A$8,760,000) supported by the Company. Debt drawn under these facilities bear interest at the relevant
inter-bank benchmark reference rate plus a margin of between 0.35% to 2.0%. These facilities are subject to annual review. At 30 June 2008,
the Group had utilised $5,842,000 (2007: $4,704,000).

Finance lease liability — International

A wholly owned subsidiary in Germany also has a property finance lease with a balance outstanding of $13,849,000 (2007: $17,194,000). The
lease bears interest at the relevant inter-bank benchmark reference rate plus a margin of 1.75% and as at 30 June 2008 had interest rate swaps
used for hedging applying to 82% of the balance outstanding (Refer also to Note 30).