In looking at debt products, we can see some characteristics that delineate between different products We can see that some debt products are aimed at being around for less than one year And some are aimed at being provided for greater than one year Alternatively we see products falling into another two camps Those that are borrowed directly from banks or finance companies And those that are borrowed from financial markets These are sometimes called private debt or public debt So what products to we see going into each of these four boxes that we've now got Well in the top left hand corner we've got revolving credit facilities and overdrafts Both of them short term, allow a company to dip in when they need a bit of cash The big difference, an overdraft typically available to individuals or much smaller organisations Where revolving credit facilities, therefore companies Revolving credit facilities also have one extra thing, is that they are a guaranteed facility for a period of time Where as an overdraft can be withdrawn at short notice Moving down to greater than one year bank products, we see term loans and capital or finance leases Moving into the public markets (financial markets), less than one year we see commercial paper and notes payable So this is where companies that need a little bit of cash just for the short term, will issue these pieces of paper out to the market and other companies that are cash rich will buy them And repayments will happen a short while later Looking at greater than one year, the focus here is on bonds Now there are some key differences between bonds and the term loans that we see issued by banks Firstly we tend to see term loans being amortizing. This means that they are paid off over a period of time So a 10 year loan might gradually be repaid each of those years out of the 10 years Bonds however tend to be repayable as bullets i.e. all at the end Another big difference we see is that term loans tend to have covenants attached to them These are restrictions placed on the debt by banks The banks may say to the companies borrowing the money If you want to have our term loan, you're not allowed any other debt. Or if you want to have our term loan, you have to ask us before taking out any other debt. Or if you want to pay a dividends, you must pay our interest first; those kind of restrictions. Bonds do not have these kind of restrictions We can see our debt products appearing on a balance sheet. So looking through this balance sheet extract some that jump out include "short term portion of borrowings net", "Long-term portion of borrowings net" and "leasehold financing obligations". That's your capital or finance leases In the bottom right hand corner in mentions, don't include other liabilities Other liabilities I would always check the footnotes first. They have a tendency to be operating items rather than financing items. But go to the foot notes and have check if you're concerned