156 CapitaLand Integrated Commercial Trust Notes to the financial statements Year ended 31 December 2024 15 LOANS AND BORROWINGS (continued) (1) Unsecured MTN and EMTN (continued) (b) The Group has a $2.0 billion Multicurrency Medium Term Note Programme (“CCT MTN Programme”) under CCT MTN Pte. Ltd. (“CCT MTN”). As at 31 December 2024, notes issued by CCT MTN were as follows: (i) $200.0 million (2023: $500.0 million) of fixed rate notes maturing in 2025 (2023: 2024 to 2025); and (ii) JPY10.0 billion (2023: JPY10.0 billion) of fixed rate notes maturing in 2027 (2023: 2027). CCT has entered into cross currency swaps to swap the abovementioned foreign currency notes to Singapore dollars proceeds. (c) The Group has a USD2.0 billion Euro-Medium Term Note Programme (“RCS EMTN Programme”) under RCS Trust. As at 31 December 2024, notes issued under RCS EMTN Programme comprised $275.0 million (2023: $425.0 million) of fixed rate notes maturing in 2025 (2023: 2024 to 2025). (2) Unsecured bank loans As at 31 December 2024, the Group has drawn on $3,933.8 million (2023: $4,075.4 million) of unsecured bank loans with maturities up to 10 years (2023: up to 7 years) from various banks. As at 31 December 2024, the Trust has drawn on $3,392.9 million (2023: $3,234.9 million) of unsecured bank loans with maturities up to 10 years (2023: up to 7 years) from various banks. (3) Secured bank loans (a) Loan facilities for Gallileo Co. Under the loan agreement between the bank and Gallileo Co., the bank has granted Gallileo Co. secured loan facilities of EUR140.0 million. As at 31 December 2024, Gallileo Co. has drawn down EUR140.0 million (2023: EUR140.0 million), at a fixed interest rate of 1.33% (2023: 1.33%) per annum. As security for the facilities granted to Gallileo Co., Gallileo Co. has granted in favour of the banks the following: (i) Land charges over Gallileo; (ii) Assignment of claims for restitution; and (iii) Assignment of rights and claims arising from rental and lease agreements.
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