Liquid investments, cash and short-term deposits

As at {NUM|Current Date}, the Group had cash and short term deposits of £{NUM|CASH-POS} million.

Group net debt (excluding share of Funds & JVs debt)

  March 2017 March 2016

1.1 These borrowings are obligations of BLD Property Holdings Ltd, a ring-fenced, special purpose company, with no recourse to other companies or assets in the Group

1.2 These borrowings are obligations of Hercules Unit Trust and TBL Properties Limited with no recourse to other Companies or assets in the Group

2 The principal amount of gross debt at {NUM|Current Date} was £{NUM|PRINVALUE-GROSSDBT} million (March 2016: £3,552 million). Included in this, the principal amount of secured borrowings and other borrowings of non-recourse companies was £{NUM|BORROWING-NONREC} million (March 2016: £1,563m) including the principal amount of the gross debt of Hercules Unit Trust, of which £{NUM|DBTNOTOWNED}m is the proportion not beneficially owned by the Group, (March 2016: £109 million)

Secured on the assets of the group    
5.264% First Mortgage Debenture Bonds 2035 {NUM|FMDB2035} 371
5.0055% First Mortgage Amortising Debentures 2035 {NUM|FMAB2035} 100
5.357% First Mortgage Debenture Bonds 2028 {NUM|FMDB2028} 349
9.125% First Mortgage Debenture Stock 20201.1 {NUM|FMDS2020} 34
6.75% First Mortgage Debenture Bonds 2020 {NUM|FMDB2020} 62
Bank loans and overdrafts1.2 {NUM|BANK1} 733
Loan Notes {NUM|LOANNOTES} 2
  {NUM|SUMSEC} 1,651
5.50% Senior Notes 2027 {NUM|SENNOT} 101
Series D 5.003% Senior US Notes 2026 {NUM|SEN2026} 69
Series C 4.766% Senior US Notes 2023 {NUM|SEN2023} 105
Series B 4.635% Senior US Notes 2021 {NUM|SEN2021} 165
Series A 3.895% Senior US Notes 2018 {NUM|SEN2018} 28
3.81% Senior Notes 2026 {NUM|SENNOT2026} 113
3.97% Senior Notes 2026 {NUM|SENNOT2026b} 116
1.5% Convertible Bond 2017 {NUM|CONV2017} 445
0% Convertible Bond 2020 {NUM|CONV2020} 334
Bank loans and overdrafts {NUM|BANK2} 634
  {NUM|SUMUNSEC} 2,110
Gross debt2 {NUM|GROSSDBT} 3,761
Interest rate derivatives: liabilities {NUM|IRDL} 137
Interest rate derivatives: assets {NUM|IRDA} (167)
Liquid investments    
Cash and short-term deposits {NUM|CASH} (114)
Net debt {NUM|NETDBT} 3,617
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