FINANCING Changes in Financing Financial Information Reviewed by Auditors Analysis of Changes in Financing Six months ended Year ended 30th June 2022 31st December 2021 Loans and Lease Loans and Lease bonds liabilities bonds liabilities HK$M HK$M HK$M HK$M At 1st January 24,601 566 27,257 580 Loans drawn and refinanced 3,254 – 1,400 – Bonds matured (3,923) – (300) – Repayment of loans (3,207) – (3,884) – New leases arranged during the period – 61 – 51 Principal elements of lease payments – (33) – (72) Currency adjustment 98 (22) 85 14 Other non-cash movements 16 1 43 (7) At 30th June/31st December 20,839 573 24,601 566 Net Debt Financial Information Reviewed by Auditors Net debt at 30th June 2022 was HK$15,499 million, compared with HK$10,334 million at 31st December 2021. The increase in net debt principally reflected capital and development expenditure in Hong Kong and the Chinese Mainland. 44 Swire Properties Limited Interim Report 2022