Less than one year
£m
Between one year and two years
£m
Between two years and five years
£m
Total
£m
As at 29 November 2015
Secured loans1.61.56.29.3
Total borrowings1.61.56.29.3
As at 27 November 2016
Unsecured loans51.351.3
Secured loans1.66.17.7
Total borrowings52.96.159.0

The loans outstanding at period end can be analysed as follows:

Principal amount
£m
InceptionSecured overCurrent interest rateInstalment frequencyFinal payment dueCarrying amount as at
27 November
2016
Carrying amount as at
29 November
2015
210.0Jul—14UnsecuredLIBOR + 1.5%MonthlyJul—19251.3
2.5Jul—14Property, plant and
equipment
9.12%1MonthlyJul—170.51.1
8.2Sep—15Freehold
Property
LIBOR + 1.5%QuarterlySep—187.28.2
59.09.3
Disclosed as:
Current52.91.6
Non-current6.17.7
59.09.3
  1. Calculated as the effective interest rate, the calculation of which includes an optional balloon payment at the end of the term.
  2. Date of expiry of facility.

In the previous year, the unsecured three-year £100 million revolving facility was extended by a further two years and the amount of the facility was increased to £210 million. As at 27 November 2016, £52.5 million of the facility had been utilised, net of transaction fees. The Group regularly reviews its financing arrangements. The facility contains typical restrictions concerning dividend payments and additional debt and leases.

Obligations under finance leases

27 November
2016
£m
29 November
2015
£m
Obligations under finance leases due:
Within one year29.826.5
Between one and two years25.823.8
Between two and five years66.462.1
After five years34.851.1
Total obligations under finance leases156.8163.5

External obligations under finance leases are £48.1 million (2015: £44.0 million) excluding £108.7 million (2015: £119.5 million) payable to MHE JVCo, a joint venture company.

27 November
2016
£m
29 November
2015
£m
Minimum lease payments due:
Within one year38.434.8
Between one and two years31.730.3
Between two and five years76.975.0
After five years36.855.3
183.8195.4
Less: future finance charges(27.0)(31.9)
Present value of finance lease liabilities156.8163.5
Disclosed as:
Current29.826.5
Non-current127.0137.0
156.8163.5