Annual Report 2016

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19. Loans and borrowings

30 March 2016
€’000
25 March 2015
€’000
27 March 2014
€’000
Non current liabilities
Unsecured loan notes166,019248,536197,146
Current liabilities
Overdrafts29,00624,739667
Unsecured loan notes75,86299041,593

On 30 March 2016 the Group had US $273.0 million (€241.1 million equivalent) rate debt arising from two US private placement transactions, which were completed on 22 June 2006 (US $125.0 million) and 6 August 2009 (US $148.0 million). The Group entered into swaps to hedge interest and foreign exchange risk.

Offset against bank loans are loan arrangement fees of €0.2 million (2015: €0.4 million; 2014: €0.51 million) which are expensed over the period of the loans (10-12 years) as part of the effective interest.