The Group has a committed syndicated bank revolving credit facility of £1.2bn set to mature on 26 March 2013.

This facility contains only one financial covenant being the ratio of earnings before interest, tax, depreciation, amortisation and rents payable to interest plus rents payable. In addition the term out option under the £400m credit agreement which expired on 13 February 2009 was converted into a committed facility for the same period, expiring on 11 February 2010. This facility has the same financial covenant as the main £1.2bn facility. The Group also has a number of undrawn uncommitted facilities available to it. At the balance sheet date a stirling equivalent of £764m was drawn under the committed facilities and £nil was drawn under the uncommited facilities.