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Loans and other borrowings | 12 Months Ended
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Dec. 31, 2022
Text Block [Abstract] |
Loans and other borrowings | 21. Loans and other borrowings
|  | Maturity date |  |  | Discount at issue % |  |  |  |  |  | 2022 $m |  |  |  |  |  | 2021 $m |
Current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bank overdrafts (note 18) |  |  | n/a |  |  |  | n/a |  |  |  |  |  |  |  | 55 |  |  |  |  |  |  |  | 59 |
£173m 3.875% bonds 2022 |  |  | 28 November 2022 |  |  |  | 1.213 |  |  |  |  |  |  |  | – |  |  |  |  |  |  |  | 233 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | 55 |  |  |  |  |  |  |  | 292 |
Non-current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
€ 500m 1.625% bonds 2024 |  |  | 8 October 2024 |  |  |  | 0.437 |  |  |  |  |  |  |  | 534 |  |  |  |  |  |  |  | 565 |
£300m 3.75% bonds 2025 |  |  | 14 August 2025 |  |  |  | 0.986 |  |  |  |  |  |  |  | 365 |  |  |  |  |  |  |  | 408 |
£350m 2.125% bonds 2026 |  |  | 24 August 2026 |  |  |  | 0.550 |  |  |  |  |  |  |  | 423 |  |  |  |  |  |  |  | 473 |
€ 500m 2.125% bonds 2027 |  |  | 15 May 2027 |  |  |  | 0.470 |  |  |  |  |  |  |  | 539 |  |  |  |  |  |  |  | 570 |
£400m 3.375% bonds 2028 |  |  | 8 October 2028 |  |  |  | 1.034 |  |  |  |  |  |  |  | 480 |  |  |  |  |  |  |  | 537 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,341 |  |  |  |  |  |  |  | 2,553 |
Total loans and other borrowings |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,396 |  |  |  |  |  |  |  | 2,845 |
Denominated in the following currencies: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sterling |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,269 |  |  |  |  |  |  |  | 1,652 |
US dollars |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 53 |  |  |  |  |  |  |  | 57 |
Euros |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,073 |  |  |  |  |  |  |  | 1,135 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |  |  |  |  |  |  |  | 1 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,396 |  |  |  |  |  |  |  | 2,845 |
Bonds Interest is payable annually on the dates in the table, at the rates stated. Revolving Credit Facility There were no amounts drawn as at 31 December 2022 or 31 December 2021. In April 2022, the Group’s $1,275m revolving syndicated bank facility and $75m revolving bilateral facility were refinanced with a $1,350m Revolving Credit Facility (‘RCF’). The facility matures in 2027, with options to extend for a further two years. A variable rate of interest is payable on amounts drawn. No amounts were drawn throughout 2022 (2021: both facilities were undrawn). In addition to the RCF, the Group has access to $30m of uncommitted facilities (2021: $50m) which were also undrawn at 31 December 2022 and 31 December 2021.

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