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## Significant terms and conditions 

Bank loans are unsecured and are repayable on maturity in October 2011. Bank loans bear interest at the relevant interbank reference rate plus a margin. The consolidated entity has entered into interest rate swap contracts to manage the exposure to interest rates. This has resulted in a weighted average interest rate on bank loans of 6.07% (2010: 5.76%). 

Subsequent to the year end, AGL announced on 20 July 2011 that it has entered into a $1.0 billion Syndicated Loan Facility, comprising of a $600.0 million 3 year term loan tranche and a $400.0 million 5 year revolving tranche. The funds will be partially used to refinance $886.7 million of existing debt, due for repayment in October 2011. Refer Note 53 for further details. 

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