181 SWIRE PROPERTIES ANNUAL REPORT 2024 29. Borrowings (continued) 2024 HK$M 2023 HK$M Long-term bank loans – secured Repayable within 1 year 447 94 Repayable between 1 and 2 years 457 463 Repayable between 2 and 5 years 2,339 1,354 Repayable after 5 years 424 809 3,667 2,720 Long-term bank loans – unsecured Repayable within 1 year 1,397 6,369 Repayable between 1 and 2 years 3,326 593 Repayable between 2 and 5 years 13,049 9,940 17,772 16,902 Other borrowings – unsecured Repayable within 1 year 4,916 1,100 Repayable between 1 and 2 years 7,307 5,017 Repayable between 2 and 5 years 13,238 13,962 Repayable after 5 years 1,447 1,468 26,908 21,547 Total 48,347 41,169 Amounts due within one year included under current liabilities – secured 447 94 – unsecured 6,313 7,469 6,760 7,563 Amounts due after one year included under non-current liabilities – secured 3,220 2,626 – unsecured 38,367 30,980 41,587 33,606 During the year ended 31st December 2024, the Group designated certain Renminbi-denominated borrowings in total of HK$13,699 million (2023: HK$9,727 million) to hedge the exposure arising from the net investments in subsidiary, joint venture and associated companies with major operations in the Chinese Mainland. Gains arising from these hedging instruments of HK$389 million (2023: Losses of HK$50 million) have been recognised in other comprehensive income as an effective hedge. (a) The effective interest rates per annum (before interest rate and cross-currency swaps) at 31st December were as follows: 2024 2023 HKD % RMB % USD % HKD % RMB % USD % Long-term loans and bonds 2.4-6.0 3.0-3.6 3.5-5.3 2.4-6.6 3.0-3.9 3.5-6.3 There were no uncommitted bank loans at 31st December 2024 and 2023. Bank loans and other borrowings are repayable on various dates up to 2033 (2023: up to 2033). (b) The carrying amounts of these long-term bank loans and other borrowings (before cross-currency swaps) are denominated in the following currencies: 2024 HK$M 2023 HK$M Hong Kong dollars 19,268 13,929 Renminbi 17,837 15,927 United States dollars 11,242 11,313 48,347 41,169