Notes27 November
2016
£m
29 November
2015
£m
Current Liabilities
Borrowings4.252.91.6
Obligations under finance leases4.329.826.5
82.728.1
Non-Current Liabilities
Borrowings4.26.17.7
Obligations under finance leases4.3127.0137.0
133.1144.7
Total Borrowings and Finance Leases215.8172.8

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 loans1.61.56.29.3
Total Borrowings1.61.56.29.3
As at 27 November 2016
Unsecured loans51.351.3
Secured loans1.66.17.7
Total Borrowings52.96.159.0

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

Principal amount
£m
InceptionSecurity
Held
Current
Interest Rate
Instalment FrequencyFinal
Payment
Due
Carrying
Amount as at
27 November
2016
£m
Carrying
Amount as at
29 November
2015
£m
210.0July 2014NoneLIBOR + 1.5%MonthlyJuly 2019251.3
2.5July 2014Property, plant9.12%1MonthlyJuly 20170.51.1
and equipment
8.2September 2015Freehold PropertyLIBOR + 1.5%QuarterlySeptember 20187.28.2
59.09.3
Disclosed as:
Current52.91.6
Non-current6.17.7
59.09.3
  1. Calculated as the effective interest rate, the calculation of which includes an optional balloon payment at the end of the term.
  2. 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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