15. Interest-Bearing Loans and Borrowings

			Group		RTÉ
	Interest rate	Maturity	2020	2019	2020	2019
	%		€’000	€’000	€’000	€’000
Revolving credit facility	Lender cost of funds plus margin	5 December 2024	-	-	-	-
Amortising term loan facility	Lender cost of funds plus margin	5 December 2024	10,000	5,000	10,000	5,000
Project loan and term loan facility	EURIBOR plus margin	31 January 2026	55,000	55,000	-	-
			65,000	60,000	10,000	5,000
Analysed as follows:
Non-Current			65,000	60,000	10,000	5,000
Current			-	-	-	-
			65,000	60,000	10,000	5,000

On 6 December 2019, RTÉ entered into a new facility agreement with Bank of Ireland (BOI) amounting to €20 million for working capital purposes. The agreement includes a €10 million revolving credit facility which was undrawn as at 31 December 2020 and a term loan facility of €10 million, which was fully drawn as at 31 December 2020.

On 1 February 2019, the Group entered into a project loan facility agreement, through its subsidiary 2rn, with Barclays Bank Ireland PLC and Bank of Ireland amounting to €60 million in aggregate, of which €55 million was drawn at 31 December 2020.

Lender security – project loan facility

It was one of the conditions to the availability of the project loan facility that 2rn execute a security deed agreement and provide the lender security as follows:

a) Lands of 13 main DTT transmission sites;

b) All 2rn present and future fixtures and fittings on the DTT transmission sites;

c) All 2rn rental income and occupational leases;

d) Rights and benefits of 2rn insurance policies;

e) The insurance proceeds account; and

f) Deeds of Assignment creating security assignments in respect of certain commercial contracts and DTT Construction Contracts.