ESR Group Limited Annual Report 2023 171 Notes to the Consolidated Financial Statements 31 December 2023 7. FINANCE COSTS 2023 2022 US$’000 US$’000 Interest expense on bank loans 298,168 187,665 Interest expense on other borrowings 1,587 1,619 Interest expense on bonds 17,169 27,699 Interest expense on convertible bonds 3,922 5,250 Interest accretion on convertible bonds (note (i)) 7,979 10,284 Interest expense on lease liabilities 1,803 1,347 330,628 233,864 Less: Interest capitalised (17,727) (11,449) 312,901 222,415 Note: (i) Related to non-cash portion associated with the equity element of the convertible bonds. CORPORATE GOVERNANCE FINANCIAL STATEMENTS STRATEGIC REPORTS
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