4.2 Borrowings and Finance Leases

	Notes	27 November 2016 £m	29 November 2015 £m
Current Liabilities
Borrowings	4.2	52.9	1.6
Obligations under finance leases	4.3	29.8	26.5
		82.7	28.1
Non-Current Liabilities
Borrowings	4.2	6.1	7.7
Obligations under finance leases	4.3	127.0	137.0
		133.1	144.7
Total Borrowings and Finance Leases		215.8	172.8

Borrowings

	Less Than One Year £m	Between One Year and Two Years £m	Between Two Years and Five Years £m	Total £m
As at 29 November 2015
Secured loans	1.6	1.5	6.2	9.3
Total Borrowings	1.6	1.5	6.2	9.3
As at 27 November 2016
Unsecured loans	51.3	—	—	51.3
Secured loans	1.6	6.1	—	7.7
Total Borrowings	52.9	6.1	—	59.0

The loans outstanding at period end can be analysed as follows:

Principal amount £m	Inception	Security Held	Current Interest Rate	Instalment Frequency	Final Payment Due	Carrying Amount as at 27 November 2016 £m	Carrying Amount as at 29 November 2015 £m
210.0	July 2014	None	LIBOR + 1.5%	Monthly	July 2019²	51.3	—
2.5	July 2014	Property, plant	9.12%¹	Monthly	July 2017	0.5	1.1
		and equipment
8.2	September 2015	Freehold Property	LIBOR + 1.5%	Quarterly	September 2018	7.2	8.2
						59.0	9.3
Disclosed as:
Current						52.9	1.6
Non-current						6.1	7.7
						59.0	9.3

Calculated as the effective interest rate, the calculation of which includes an optional balloon payment at the end of the term.
Date of expiry of facility

In the previous year, the unsecured three-year £100 million revolving facility was extended by a further two years and the amount of the facility was increased to £210 million. As at 27 November 2016, £52.5 million of the facility had been utilised, net of transaction fees. The Group regularly reviews its financing arrangements. The facility contains typical restrictions concerning dividend payments and additional debt and leases.

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