Notes to the Financial Statements
for the year ended 31 December 2004
30 Subordinated Liabilities
| Rm | ||
| At 31 December 2004 |
At 31 December 2003 |
|
| Insurance and other liabilities | ||
| Insurance and other subordinated debt instruments of the Group are as follows: | ||
| US$27.1 million repaid during 2004 | - |
179 |
| Banking | ||
| Subordinated debt instruments are repayable: | ||
| Within one year | 502 |
- |
| Between two and five years | 536 |
806 |
| After five years | 6,320 |
6,939 |
7,358 |
7,745 |
|
| Comprising: | ||
| US$40 million repaid during 2004 | - |
265 |
| US$18 million repaid during 2004 | - |
119 |
| R500 million repaid during 2004 | - |
500 |
| R502 million repayable 20 September 2005 (8.564 per cent.) | 502 |
- |
| R515 million repayable 4 December 2008 (13.5 per cent.) | 536 |
541 |
| R2.0 billion repayable 20 September 2011 (11.3 per cent.)1 | 2,064 |
2,064 |
| R4.0 billion repayable 9 July 2012 (13.2 per cent.)1 | 4,254 |
4,254 |
| R200 million repayable 30 November 2029 (interest free) | 2 |
2 |
7,358 |
7,745 |
Note:
1 These notes are subordinated to all unsecured unsubordinated claims against the issuer, Nedbank Limited, but rank equally with all other unsecured
subordinated obligations. Subject to prior approval by the South African Registrar of Banks, Nedbank Limited has the option to elect for early
redemption of these notes.
