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StarHub Ltd Annual Report 2015

14 Borrowings (continued) Group and Company
14.1 Bank loans
2015 2014 Overview
Current
Non-current $m $m

137.5 200.0
330.0 267.5
467.5 467.5

Repayable: 137.5 200.0
– Within 1 year 330.0 267.5
– After 1 year but within 5 years 467.5 467.5

At 31 December 2015, the unsecured bank loans bore interest at rates ranging from 1.47% to 2.98% (2014: 0.79% to 2.56%) per annum. Strategy

14.2 Medium term note Group and Company

Non-current 2015 2014

$m $m

220.0 220.0

The Company has established a multicurrency medium term note programme with a maximum aggregate principal amount Performance
of $1,000,000,000 in September 2011. In September 2012, the Company issued a $220,000,000 10 years medium term note
which bore an interest rate of 3.08% per annum and is payable in September 2022. There is no material difference between the
carrying amount and fair value of the medium term note.

15 Deferred Income Group Company
2015
Deferred grants Note 2015 2014 2014 Governance & Sustainability
At beginning of year $m $m $m $m
Grants receivable
Amount accreted to the income statement 21.3 41.7 – –
At end of year 2.3 – 2.3 –
(0.7) –
(14.7) (20.4) 1.6 –
8.9 21.3

Deferred grants to be accreted: 13 7.8 14.0 0.5 –
Current (within 1 year) 1.1 7.3 1.1 –
Non-current (after 1 year but within 5 years) 8.9 21.3 1.6 – Financials
Total

The deferred income are government grants received. The assets related grants are recognised over the estimated useful lives
of the related assets. The income related grants are recognised on a systematic basis over the periods to match the related cost.