content_image/68744.jpg content_image/68745.jpg
## 9. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES 

<img src='content_image/68744.jpg'>

## 10. LONG-TERM DEBT 

<img src='content_image/68745.jpg'>

On September 1, 1999, Corus entered into a $600,000,000 revolving/reducing credit facility with a syndicate of Canadian chartered banks. The first tranche of the credit facility consists of a revolving/reducing term loan expiring on August 31, 2006 for up to $600,000,000 less any amount borrowed under the second tranche. The second tranche is a reducing term loan for up to $300,000,000 or the U.S. dollar equivalent. One percent of the principal of the reducing term loan is due each year for seven years with the balance due on August 31, 2007. The revolving/reducing term loan is repayable semi-annually by amounts ranging up to 20% of the original amount such that the loan is repaid by August 31, 2006. 

Funds are available under the reducing term loan in both Canadian and U.S. dollars. At August 31, 2000, the U.S. portion of the bank loan was U.S. $148,500,000, and 1% of this loan is due for repayment in 2001. The Company has entered into cross-currency interest rate agreements to fix the liability for interest and principal payments on this amount which is equivalent to Cdn. $213,840,000. 

