22 Borrowings

 
Figures in million 2011 2010
  SA Rands
Unsecured    
FirstRand Bank Limited loan facility (R1.5bn) 701
Interest charged at JIBAR plus 0.95% per annum. Loan was repaid in February 2011 and was SA rand-based, the loan was subject to debt covenant arrangements for which no default event occurred.    
Secured    
Finance leases    
Turbine Square Two (Pty) Limited 268 259
The leases are capitalised at an implied interest rate of 9.8% per annum. Lease payments are due in monthly instalments terminating in March 2022 and are SA rand-based. The buildings financed are used as security for these loans.    
Total borrowings (note 31) 268 960
Current portion of borrowings included in current liabilities (3) (703)
Total long-term borrowings 265 257
Amounts falling due    
Within one year 3 703
Between two and five years 49 24
After five years 216 233
(note 31) 268 960
Undrawn facility    
Undrawn borrowing facility as at 31 December is as follows:    
FirstRand Bank Limited – SA rand 800