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## Cardno Limited and its Controlled Entities for the year ended 30 June 2010 

## 20. INTEREST-BEARING LOANS & BORROWINGS (NON-CURRENT) 

## Bank Loans 

As at 30 June 2010 the Group has bank loans totalling $169,779,591 (2009: $78,884,102), with an effective interest rate of 2.72% (2009: 3.01%). 

The facility limits are multi-currency comprising an on-demand working capital / guarantee facility of AUD19.0 million and term acquisition financing facilities of USD129.1 million and GBP8.55m repayable in July 2012. Pricing of the working capital facility is BBSY plus a margin ranging from 2.25% to 3.00% depending on the Maximum Financial Leverage Ratio, while current interest rates on term facilities range from 2.60% pa. to 3.07% pa. The undrawn portion of facilities at 30 June 2010 was AUD17.4 million (2009: AUD10.0 million). Facilities are secured by an unlimited interlocking guarantee and indemnity. 

The portion of the bank loans disclosed as a current liability represents amounts due to be repaid within one year. 

There were no bank overdrafts in existence at 30 June 2010 (2009: Nil). 

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The Company does not have authorised capital or par value in respect of its issued shares. 

All shares are ordinary shares and have the right to receive dividends as declared and, in the event of winding up the Company, to participate in the proceeds from the sale of all surplus assets in proportion to the number of and amounts paid up on shares held. Ordinary shares entitle their holder to one vote, either in person or by proxy, at a meeting of members. 

The Company issued shares subsequent to year end – refer to note 29. 

