14. Interest-Bearing Loans and Borrowings

			Group		RTÉ
	Interest rate	Maturity	2022	2021	2022	2021
	%		€’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	8,125	10,000	8,125	10,000
Project loan and term loan facility	EURIBOR plus margin	31 January 2026	55,000	55,000	-	-
			63,125	65,000	8,125	10,000
Analysed as follows:
Non-Current			59,500	63,500	7,000	8,500
Current			3,625	1,500	1,125	1,500
			63,125	65,000	8,125	10,000

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 2022 and a term loan facility of €8.13 million, which was fully drawn as at 31 December 2022.

On 1 February 2019, the Group entered into 2 project loan facilities. The first facility for €15m is repayable in 6 equal tranches of €2.5m every 6 months commencing in September 2023. The second facility of €40m is fully repayable on its maturity date in 2026.

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.