page 106 Bombardier Inc. Annual Report 2003-04 NOTE 11. SHORT-TERM BORROWINGS (CONT ’ D) BC On September 9, 2003, the Corporation renewed the 364-day portion of its North American credit facility for an amount of $730 million (previously $750 million). On July 9, 2003, the Corporation renewed the 364-day portion of its European credit facility for an amount of  € 560 million (previously € 600 million). Remaining bilateral facilities resulting from the Adtranz acquisition amounted to $380 million as at January 31, 2004 ($505 million as at January 31, 2003). In addition to the outstanding letters of credit shown in the above tables, Bombardier had $406 million of outstanding letters of credit as at January 31, 2004 ($900 million as at January 31, 2003). In October 2002, Bombardier repaid, at maturity, $802 million (¥20 billion,  € 200 million and $250 million) of floating-rate notes issued in August 2001.  On July 10, 2002, the Corporation entered into a new  € 3,750-million credit facility to refinance its existing  € 1,700-million European credit facility and various bilateral facilities resulting from the Adtranz acquisition. This credit facility had a committed 364-day portion of  € 600 million and a committed five-year portion of  € 3,150 million. BC’s credit facilities and borrowings and their rates and maturities were as follows as at January 31: $^{(1)}$The foreign currency component of the amounts drawn was $473 million US for the revolving lines; $50 million US and various Western European currencies for an equivalent Canadian dollar amount of $63 million for the bank loans; and $777 million US for the securitized floorplan. During the year ended January 31, 2004, BC did not renew two 364-day revolving facilities of $470 million and $400 million US, which matured in September 2003, in accordance with BC’s expected future requirements. 2004 AVERAGE MATURITY AMOUNTS YEAR-END RATE FOR (FISCAL COMMITTED DRAWN (1) AVAILABLE RATE THE YEAR YEAR) Revolving lines $ 796 $ – $ 796 – 1.8% 2006 Securitized floorplan 527 308 219 2.0% 2.2% 2005 $1,323 $ 308 $1,015 $^{(1)}$The foreign currency component of the amounts drawn was $135 million US. 2003 AVERAGE MATURITY AMOUNTS YEAR-END RATE FOR  (FISCAL  COMMITTED DRAWN (1) AVAILABLE RATE THE YEAR YEAR) Revolving lines $1,999 $ 727 $1,272 2.0% 2.1% 2004-2006 Bank loans 153 139 14 2.9% 3.0% 2004 Other 46 – 46 – 4.8% 2004 Securitized floorplan 1,317 1,317 – 1.5% 1.9% 2004 $3,515 $2,183 $1,332