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Notes 16-20

20. Bank overdrafts, bonds and bank loans

Amounts falling due within one year:

  2007
£m
2006
£m
Bank overdrafts 977.9 706.8
Convertible bonds 81.5 548.7
Corporate bonds and bank loans 526.5 5.1
  1,585.9 1,260.6


The Group considers that the carrying amount of overdrafts and short-term borrowings approximates their fair value.

Amounts falling due after more than 1 year:

  2007
£m
2006
£m
Corporate bonds and bank loans 1,740.0 1,217.7


The Group estimates that the fair value of convertible and corporate bonds is £2,319.1 million at 31 December 2007 (2006: £1,809.3 million). The Group considers that the carrying amount of bank loans approximates their fair value.

The corporate bonds, convertible bonds, bank loans and overdrafts included within creditors fall due for repayment as follows:

  2007
£m
2006
£m
Within one year 1,585.9 1,260.6
Between one and two years 486.4
Between two and three years
Between three and four years
Between four and five years
Over five years 1,740.0 731.3
  3,325.9 2,478.3