Debt facilities

Debt facilities

The Group’s objective is to maintain a balance between the continuity, flexibility and cost of debt funding through the use of borrowings from a range of markets with a range of maturities, currencies and rates of interest, reflecting the Group’s risk profile.

All the Group’s material borrowings are arranged by the central treasury department and funds raised are lent onward to operating subsidiaries as required. Surplus funds are lent back to the central treasury department where appropriate.

The maturity of the Group’s borrowings at 31 December 2016.

The Group intends to continue to fund the business conservatively through proactive use of bank and capital markets.