14 Short term borrowings and medium term loans

Short term borrowings and medium term loans

Short term borrowings

 

  2018 2017
AED’000 AED’000
 
At 1 January 266,410 192,500
Proceeds received 123,910
Repayments (238,810) (50,000)
At 31 December
27,600
 
266,410

These short-term borrowings carry variable interest rates ranging from 4.25% p.a to 6.34% p.a (2017: 3.37% p.a to 5.31% p.a).



Medium term loans

  2018   2017
  AED’000   AED’000
       
At 1 January 120,834   87,500
Proceeds received 150,000   100,000
Repayments (87,499)   (66,666)
At 31 December
183,335
 
120,834
Obtained

in

Matures in Approved facility line

AED ‘000

Repayment schedule Interest rate
 

24 May 2017

 

2020

 

100,000

 

11 equal instalments of AED 8,333 thousand plus interest and one final instalment (12th) covering the residual utilisation amount plus interest.

 

3 months EIBOR + 2.10% p.a.

 

21 June 2018

 

2021

 

150,000

 

5 equal instalments of AED 25,000 thousand plus interest and one final instalment (6th) covering the residual utilisation amount plus interest.

 

3 months EIBOR + 2.10% p.a.

No financial covenants attached to short-term borrowings or medium term loans.