NOTES TO THE FINANCIAL STATEMENTS CONTINUED Notes to and forming part of the Consolidated Financial Statements For the period from incorporation to 26 June 2004 Consolidated Parent  entity  entity 2004 2004 $’000 $’000 Secured Commercial bill  21,600  0 Secured liabilities  Total secured liabilities (current and non-current) are:  Commercial bills  50,600  0 Total current and non-current secured liabilities  50,600  0 The facilities are secured by two fixed and floating charges over Super Cheap Auto Pty Ltd assets and unlimited cross guarantee and indemnity between Super Cheap Auto Pty Ltd and Super Cheap Auto  (New Zealand) Pty Ltd in favour of ANZ Banking Group Limited Financial covenants are provided by  Super Cheap Auto Pty Ltd with respect to adjusted gearing ratio, fixed charges cover and debt to  EBITDA ratio. In addition, Super Cheap Auto undertakes not to make distributions of more than 60% of NPAT without ANZ Banking Group Limited’s prior consent. Financing arrangements Unrestricted access was available at balance date to the following lines of credit:  Total facilities  - Multi-Option Facility  (including overdraft and cash advance) 38,120  0  - Variable rate Commercial Bill Acceptance/Discount Facility  25,000  0  - Indemnity/Guarantee Facility  1,300  0 Totals  64,420  0 Facilities used at balance date  - Multi-Option Facility  (including overdraft and cash advance) 26,000  0  - Variable rate Commercial Bill Acceptance/Discount Facility  24,600  0  - Indemnity/Guarantee Facility  1,287  0 Totals  51,887  0 Unused balance of facilities at balance date  - Multi-Option Facility  (including overdraft and cash advance) 12,120  0  - Variable rate Commercial Bill Acceptance/Discount Facility  400  0  - Indemnity/Guarantee Facility  13  0 Totals  12,533  0 In addition, the Company has access to a $20.3 million transactional facility for clean credit and foreign currency dealings.  The current interest rates on the financing arrangements are:  - Multi-Option Facility (including overdraft and cash advance)   7.23% - 7.29%  Variable rate Commercial Bill Acceptance/Discount Facility  (subject to an interest rate swap - refer Note 26) 6.19% NON-CURRENT LIABILITIES - INTEREST BEARING LIABILITIES 20 66