157 Annual Report 2024 15 LOANS AND BORROWINGS (continued) (3) Secured bank loans (continued) (b) Loan facilities for MAC entities Under the loan agreement between the bank and the MAC entities, the bank has granted the MAC entities secured loan facilities of EUR121.9 million. As at 31 December 2024, MAC entities has drawn down EUR121.9 million (2023: EUR121.9 million), at a fixed interest rate of 0.75% (2023: 0.75%) per annum. As security for the facilities granted to MAC entities, MAC entities have granted in favour of the banks the following: (i) Land charges over Main Airport Center; (ii) Assignment of claims for return of security; (iii) Assignment of rights and claims arising under lease agreements; and (iv) Pledge of account balances. (c) Loan facilities for 79RR LLP Under the loan agreement between the bank and 79RR LLP, the bank has granted 79RR LLP secured loan facilities of $539.0 million. 79RR LLP has drawn down $5.0 million during the year. As at 31 December 2024, the loan outstanding is $501.0 million (2023: $496.0 million). As security for the facilities granted to 79RR LLP, 79RR LLP has granted in favour of the banks the following: (i) A first mortgage over the investment property; (ii) Assignment and charge of the rental proceeds, tenancy agreements and sales agreements relating to CapitaSky; (iii) Assignment of the insurance policies relating to CapitaSky; and (iv) A fixed and floating charge over the present and future assets of 79RR LLP relating to CapitaSky. (4) Guarantee contracts (a) The Trustee in its capacity as trustee of the Trust has provided unconditional and irrevocable corporate guarantee on all sums payable in respect of the notes issued by CMT MTN. CMT MTN has entered into cross currency swaps to swap the foreign currency notes into Singapore dollars. All sums payable in respect of the cross currency swaps are also guaranteed by the Trustee in its capacity as trustee of the Trust. (b) The Trustee in its capacity as trustee of the Trust has provided unconditional and irrevocable corporate guarantee on all sums payable in respect of the loans and borrowings of a subsidiary, in respect of facility agreements of up to AUD558.0 million. As at 31 December 2024, the total amount of utilised borrowing facilities is AUD540.0 million (approximately $468.3 million) (2023: AUD544.0 million (approximately $490.8 million)). The subsidiary has entered into interest rate swaps to swap floating interest rate to fixed interest rate. All sums payable in respect of the interest rate swaps are also guaranteed by the Trustee in its capacity as trustee of the Trust.
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