CSL Ltd Annual Report 2021

d. Funding and Liquidity Risk Maturity Profile of Debt by Facility (US$m) ● Private Placement ● QDI ● Bank Debt ● US CP ● KfW Loans ● Other Borrowings 0 100 200 300 400 500 600 700 800 900 FY38 FY37 FY36 FY35 FY34 FY33 FY32 FY31 FY30 FY29 FY28 FY27 FY26 FY25 FY24 FY23 FY22 The following table analyses the Group’s financial liabilities: Interest-bearing liabilities and borrowings 2021 US$m 2020 US$m Current Bank overdraft – unsecured 78.7 43.1 Bank borrowings – secured 66.2 70.9 Commercial paper – 10.0 Senior unsecured notes – unsecured 250.0 – Lease liabilities 77.8 75.2 Other borrowings – secured 1.1 3.1 473.8 202.3 Non-current Bank loans – unsecured 220.0 619.8 Senior unsecured notes – unsecured 3,993.9 4,204.9 Lease liabilities 1,104.6 952.3 Other borrowings – secured 14.6 13.5 5,333.1 5,790.5 Interest-bearing liabilities and borrowings are recognised initially at fair value, net of transaction costs incurred. Subsequent to initial recognition, interest-bearing liabilities and borrowings are stated at amortised cost, with any difference between the proceeds (net of transaction costs) and the redemption value recognised in the statement of comprehensive income over the period of the borrowings. Fees paid on the establishment of loan facilities that are yield related are included as part of the carrying amount of the loans and borrowings. Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting date. The Group is in compliance with all debt covenants. Lease liabilities At the commencement date of the lease, the Group recognises lease liabilities measured at the present value of lease payments to be made over the lease term. In calculating the present value of lease payments, the Group uses the incremental borrowing rate of the lessee at the lease commencement date if the interest rate implicit in the lease is not readily determinable. The Group exercises judgement when determining the incremental borrowing rate based on the interest that the lessee would have to pay to borrow over a similar term, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment, and observable inputs such as market interest rates are used as applicable. CSL Limited Annual Report 2020/21 130 Notes to the Financial Statements