24. Interest-bearing Loans and Borrowings Maturity profile of loans and borrowings and undrawn committed facilities Guarantees Lender covenants 104 CRH (1)  Minimum interest cover  (excluding share of joint ventures) defined as PBITDA/net interest (all as defined in the relevant agreement) cover at no lower than 4.5  times. As at 31 December 2012 the ratio was 6.5 times (2011: 7.4 times); (2)  Minimum net worth  defined as total equity plus deferred tax liabilities and capital grants less repayable capital grants being in aggregate no lower than €5.1  billion (2011: €5.0 billion) (such minimum being adjusted for foreign exchange translation impacts). As at 31 December 2012 net worth (as defined) was €11.9  billion (2011: €12.1 billion). The Group’s major bank facilities and debt issued pursuant to Note Purchase Agreements in private placements require the Group to maintain certain financial  covenants. Non-compliance with financial covenants would give the relevant lenders the right to terminate facilities and demand early repayment of any sums drawn  thereunder thus altering the maturity profile of the Group’s debt and the Group’s liquidity. Calculations for financial covenants are completed for twelve-month  periods half-yearly on 30 June and 31 December. The Group was in full compliance with its financial covenants throughout each of the periods presented. The  Group is not aware of any stated events of default as defined in the Agreements. The financial covenants are: The Company has given letters of guarantee to secure obligations of subsidiary undertakings as follows: €4.8 billion in respect of loans, bank advances, derivative  obligations and future lease obligations (2011: €4.7 billion), €289 million in respect of letters of credit (2011: €427 million) and €7 million in respect of other obligations  (2011: €9 million). Pursuant to the provisions of Section 17, Companies (Amendment) Act, 1986, the Company has guaranteed the liabilities of its wholly-owned subsidiary undertakings  and the Oldcastle Finance Company and Oldcastle North America Funding Company general partnerships in the Republic of Ireland for the financial year ended 31  December 2012 and, as a result, such subsidiary undertakings and the general partnerships have been exempted from the filing provisions of Section 7, Companies  (Amendment) Act, 1986 and Regulation 20 of the European Communities (Accounts) Regulations, 1993 respectively. **  The Group manages its borrowing ability by entering into committed borrowing agreements. Revolving committed bank facilities are generally available to the Group for periods of  up to five years from the date of inception. The figures shown above are the undrawn committed facilities available to be drawn by the Group at 31 December 2012. Including share of joint ventures Excluding share of joint ventures Loans and borrowings Undrawn committed facilities** Loans and borrowings Undrawn committed facilities** €m €m €m €m At 31 December 2012 Within one year  676   150   647   150  Between one and two years  934   -  928   - Between two and three years  351   40   347   40  Between three and four years  1,316   1,626   1,314   1,626  Between four and five years  6   -  5   - After five years  1,632   1   1,567   1  Total  4,915   1,817   4,808   1,817  The equivalent disclosure for the prior year is as follows: At 31 December 2011 Within one year  519   135   459   132  Between one and two years  604   237   580   184  Between two and three years  957   1   941   1  Between three and four years  356   37   341   - Between four and five years  1,357   1,500   1,345   1,500  After five years  1,189   28   1,092   1  Total  4,982   1,938   4,758   1,818  *  Including loans of €3 million (2011: €9 million) secured on specific items of property, plant and equipment; these figures do not include finance leases. Loans and borrowings outstanding 2012 2011 Including share of  joint ventures Excluding share of  joint ventures Including share of  joint ventures Excluding share of  joint ventures €m €m €m €m Bank overdrafts  60   54   64   49  Bank loans  68   48   155   40  Leases   17   17   25   23  Bonds and private placements  4,676   4,670   4,620   4,614  Other   94   19   118   32  Interest-bearing loans and borrowings*  4,915   4,808   4,982   4,758 