text: **15. Interest-Bearing Liabilities (continued)**
  
  **(c) Medium-term notes**
  
  The Santos Group has a A$500.0 million (2003: A$500.0 million) Australian medium-term note program. At 31 December 2004, A$20.0 million 
  (2003: A$20.0 million) of medium-term notes have been issued at fixed rate and swapped into floating rates of interest of 6.25% (2003: 6.20%), 
  maturing in 2008. 
  
  **(d) Long-term notes**