62Spire Healthcare Annual Review 2010Spire Healthcare Limited PartnershipNotes to the financial statementsFor the year ended 31 December 201015. Borrowings continuedObligations under finance leasesThe Group has finance leases in respect of three hospital properties. Future minimum lease payments under these finance leases, which expire in 2040, are as follows:20102009Minimum payments £000Present value of payments£000Minimum payments £000Present value of payments £000Within one year6,3513,866--After one year but not more than five years26,17513,318--More than five years197,94356,862--Total minimum lease payments 230,46974,046--Less amounts representing finance charges(156,423)---Present value of minimum lease payments74,04674,046--The property leases with a liability of £74 million mature in 2040 and carry an implicit interest rate of 9.1%.Terms and debt repayment scheduleThe maturity date is the date on which all the bank loans will have been fully repaid.a) The terms and conditions of bank facilities on which there are balances outstanding are as follows:MaturityMargin over LIBORPrincipal drawn 2010£000Carrying amount after issue costs and including interest accrued2010£000Carrying amount after issue costs and including interest accrued2009£000Spire 1Term loan- operating companiesAugust 20142.0%-3.0%115,800110,312112,824Term loan - property companiesOctober 20141.25%-2.35%994,466989,640987,082Capex loanAugust 2014 2.0%38,90838,91034,411PIK notesOctober 20147.05%83,64584,31877,659Spire 2Term loan March 2015-20172.25%-3.5%43,11041,68956,896Mezzanine loanMarch 20189.75%22,77122,78421,476Other loansMarch 20152.25%6,0006,0006,9271,304,700 1,293,653 1,297,275

63Spire Healthcare Limited Partnershipb) The terms and conditions of loans from the ultimate parent undertaking and management are as follows:MaturityInterest ratePrincipal drawn£000Carrying amount after issue costs and including interest accrued2010£000Carrying amount after issue costs and including interest accrued2009£000Ultimate parent undertaking - Spire 1August 203712%487,807503,689449,722Ultimate parent undertaking - Spire 2March 203812%90,25198,13887,521578,058601,827537,243The Group has available the following lines of credit:. £56 million acquisition/capex facilities, of which £11.1 million was undrawn as at 31 December 2010. £55 million revolving credit facilities, of which £17.7 million have been utilised in the form of guarantees, letters of credit and bank loans and £37.3 million was undrawn as at 31 December 201016. Provisions2010£0002009£000At 1 January 2010 1,7901,266Acquired on acquisition314-Charge for the year111,043Utilised during the year(973)(519)At 31 December 2010 1,1421,790The 2010 provision acquired on acquisition relates to leases for the London Fertility Centre. In 2009 other provisions comprised restructuring costs in respect of onerous tenancy contracts for the Manchester office and the onerous tenancy contracts in respect of two regional distribution centres following the decision to centralise warehousing activities to one National Distribution Centre in 2009.