Short term borrowings and medium-term loans
|
|
2024 |
|
2023 |
|
|
AED’000 |
|
AED’000 |
|
|
|
|
|
| At 1 January |
|
215,000 |
|
340,000 |
| Proceeds during the year |
|
355,000 |
|
150,000 |
| Repayments |
|
(275,000) |
|
(275,000) |
|
|
|
|
|
| At 31 December |
|
295,000 |
|
215,000 |
| |
Year of maturity |
2024 |
2023 |
| Loan |
|
Carrying amount |
Carrying amount |
| |
AED’000 |
AED’000 |
|
|
|
|
|
| Term loan 1 |
2025/2024 |
|
150,000 |
150,000 |
| Term loan 2 |
2025/2024 |
|
65,000 |
65,000 |
| Term loan 3 |
2025 |
|
80,000 |
– |
These short-term borrowings carry variable interest rates ranging from 7.50% p.a to 9.50% p.a (2023: 7.73% p.a to 9.90% p.a).
|
|
2024 |
|
2023 |
|
|
AED’000 |
|
AED’000 |
|
|
|
|
|
| At 1 January |
|
33,333 |
|
66,667 |
| Repayments |
|
(33,333) |
|
(33,333) |
| At 31 December |
|
– |
|
33,333 |
| Obtained In |
Matures in |
Approved facility line AED ‘000 |
Repayment schedule |
Interest rate |
| 30 November 2021 |
2024 |
100,000 |
5 equal instalments of AED 16,667 thousand plus interest and one final instalment (6th) covering the residual utilisation amount plus interest. |
3 months EIBOR + 2.50% p.a. |
Short term borrowing and/or medium term loans are subject to financial covenants that are customary to credit facilities of such nature.
