Page 234 - Sigmaroc Annual-Report 2023

SIGMAROC ANNUAL REPORT 2023 FINANCIAL REPORT
Notes to the financial statements
The carrying amounts of the Group and Company’s trade and other payables are denominated in the following currencies:
31 December 2023 ‘000
Consolidated
Company
UK Pounds
Euros 69,579 Swedish krona 21,523 Zlotys 9,663 Ukrainian Hryvnia 9 Turkish Lira 227
49,003
31 December 2022 ‘000
31 December 2023 ‘000
29,114
80,349
9,908
26,712
320
10,029
-
166,407
11
-
303
-
39,342
24. BORROWINGS
Non-current liabilities
44,493
145,494 Consolidated
Company
16,419 2,159 - - - - 18,578
206,342 - - 27 206,369
20,000 - - 72 20,072
31 December 2023 £’000
174,090
31 December 2022 £’000
5,986
7,853
12,863
200,792
29,500
1,209
2,066
4,729
37,504
31 December 2023 £’000
174,090
31 December 2022 £’000
-
-
-
174,090
29,500
-
29,543
43
-
Syndicated Senior Credit Facility 206,342 Bank Loans 2,617 Finance lease liabilities 7,375 IFRS 16 leases 12,296
228,630
Current liabilities
Syndicated Senior Credit Facility 20,000 Bank Loans 6,500 Finance lease liabilities 2,927 IFRS 16 leases 4,419
33,846
In July 2021, the Group entered into a new Syndicated Senior Credit Facility of up to £305 million (the ‘Legacy Debt’) led by Santander UK and including several major UK and European banks. The Legacy Debt, which comprises a £205 million committed term facility, a £100 million revolving facility commitment and a further £100 million accordion option. This new facility replaces all previously existing bank loans within the Group.
The Legacy Debt is secured by a floating charge over the assets of SigmaFin Limited, Carrieres du Hainaut and Nordkalk and is secured by a combination of debentures, security interest agreements, pledges and floating rate charges over the assets of SigmaRoc plc, SigmaFin Limited, B-Mix, Carrieres du Hainaut and Nordkalk. Interest is charged at a rate between 1.85% and 3.35% above SONIA
(‘Interest Margin’), based on the calculation of the adjusted leverage ratio for the relevant period. For the period ending 31 December 2023 the Interest Margin was 2.35%.
On 22 November 2023 the Company entered into a new syndicated senior credit facility of up to €750 million (the ‘New Debt Facilities’) led by Santander UK and BNPP, with the syndicate including several major UK and European banks and a further €125 million bridge loan (‘Bridge Loan’). The New Debt Facilities comprise a €600 million committed term facility, €150 million revolving credit facility and a further €100 million uncommitted accordion. The New Debt Facilities are conditional on the completion of the acquisition of the CRH Deal 1, following completion, the Legacy Debt will be repaid in full. As of 31 December 2023, the Group hadn’t drawn any funds from the New Debt Facilities.
31 December 2022 ‘000