7 Other Assets 8 Mortgages and  Credit Facilities (a) Mortgages and credit facilities, are secured by shopping centres and the Equity One common shares. (b) At December 31, 2003, the Company has $73.0 million of undrawn credit facilities, which are secured by certain shopping centres and a portion of its investment in Equity One, available for acquisitions, development, and general corporate purposes. In addition, the Company has unencumbered shopping centres with a book value of approximately $21.6 million. 57 First Capital Realty Annual Report 2003 United States Canada Fixed rate financing bears interest at an average fixed rate of 7.0% (2002 – 7.3%) and matures in years ranging from 2004 to 2019. Floating rate financing bears interest at floating rates determined by reference to Canadian prime lending and bankers’ acceptance rates and matures by 2005. Floating rate financing bears interest at the London Inter-Bank Offering Rate (“LIBOR”) plus 150 – 220 basis points and matures in 2007. Floating rate financing of $13.0 million (US$10.0 million) has been capped at 7.0% until September 2006. Fixed rate financing is comprised of LIBOR swap agreements on a notional US$30 million (2002 – US$10 million) at an average fixed rate of 4.3% (2002 – 4.6%) plus applicable spreads and matures by 2013. The following table summarizes the principal repayments of mortgages and credit facilities, as at December 31, 2003. (thousands of dollars) 2003 2002 Deferred financing, issue and interest rate hedge costs $ 7,188 $ 7,861 (net of accumulated amortization of $6,042 (2002 – $5,627)) Prepaid expenses and other assets 9,324 7,200 Deposits and costs on properties under option 2,310 3,194 Intangible assets purchased on acquisition of properties 1,575 – $ 20,397 $ 18,255 2003 2002 (thousands of dollars) Canada U.S. Total Total Fixed rate $ 639,733 $ 38,895 $ 678,628 $ 440,459 Floating rate 37,758 69,915 107,673 146,624 $ 677,491 $ 108,810 $ 786,301 $ 587,083 (thousands of dollars) Canada U.S. Total 2004 $ 56,907 $ 12,634 $ 69,541 2005 47,653 6,416 54,069 2006 31,400 12,629 44,029 2007 63,126 77,131 140,257 2008 42,936 – 42,936 Thereafter 435,469 – 435,469 $ 677,491 $ 108,810 $ 786,301