Notes 16-20

20. Bank overdrafts, bonds and bank loans

Amounts falling due within one year:


 
2008
£m
2007
£m
Bank overdrafts 1,254.4 977.9
Convertible bonds 81.5
Corporate bonds and bank loans 386.4 526.5
  1,640.8 1,585.9

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:


 
2008
£m
2007
£m
Corporate bonds and bank loans 3,999.3 1,740.0

The Group estimates that the fair value of convertible and corporate bonds is £3,630.0 million at 31December 2008 (2007: £2,319.1 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:


 
2008
£m
2007
£m
Within one year 1,640.8 1,585.9
Between one and two years 845.5
Between two and three years 200.5
Between three and four years 53.8
Between four and five years 586.7
Over five years 2,312.8 1,740.0
  5,640.1 3,325.9

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