2018
£m
2017
£m
Current liabilities:
Bank loans1.21.0
1.21.0
Non-current liabilities:
Bank loans293.3180.6
Arrangement fees netted off(3.4)(0.4)
289.9180.2
Total borrowings291.1181.2

In July 2017 the Group replaced its existing facility of £205.0 million with a multi-currency revolving credit facility of £235.0 million, with an accordion of £125.0 million until 2022. During the year the termination date was extended to 2023 with the possibility of further extending to 2024. At the year end £157.7 million was drawn down against this facility. The facility is not secured on any specific assets of the Group but is supported by a joint and several cross guarantee structure. Interest will be charged at a minimum of 1.3% over LIBOR and at a maximum of 2.2% over LIBOR, dependent upon the Leverage (the ration of Total Net Debt to Adjusted EBITDA) of the Group. At 30 June 2018, interest being charged on this facility is 1.5% above LIBOR. All covenants were met during the year ended 30 June 2018. On replacement of the existing facility, arrangement fees of £0.4 million were written off as non-underlying in relation to this facility.

In January 2018 the Group entered into a new multi-currency Term Loan facility of £350.0 million until 31 December 2020. At the year end £132.9 million was drawn against this facility. The facility is not secured on any specific assets of the Group but is supported by a joint and several cross guarantee structure. Interest will be charged at a minimum of 1.1% over LIBOR and at a maximum of 2.0% over LIBOR, dependent upon the Leverage (the ratio of Total Net Debt to Adjusted EBITDA) of the Group. At 30 June 2018, interest being charged on this facility is 1.5% above LIBOR. All covenants were met during the year ended 30 June 2018. Arrangement fees of £3.9 million were incurred on the new facilities during the year, these are being released to the income statement over the life of the facilities.

Genera also has borrowing facilities of £6.9 million, of which £3.9 million was drawn down at 30 June 2018. Interest is fixed at 3.1%.

The maturity of the bank loans and overdrafts is as follows:

2018
£m
2017
£m
Payable:
Within one year1.21.0
Between one and two years1.31.2
Between two and five years292.0179.4
294.5181.6

Further information on the interest profile of borrowings is shown in note 24.