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New Zealand Gazette – 1995 – No. 139

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✨ Financial Statements Notes

4554 NEW ZEALAND GAZETTE No. 139

TRANS POWER NEW ZEALAND LIMITED GROUP

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 1995

The notional contract amounts of foreign exchange instruments outstanding at balance date are as follows:

	30 June 1995	30 June 1994
	$000	$000
Foreign exchange contracts	196,715	20,996

The cash settlement requirements of forward foreign exchange contracts approximates the notional contract amounts.

(ii) Interest Rate Risk

Management have entered into borrowings with fixed and floating interest rates within prescribed policy limits. The exposure to interest rate repricing is hedged by interest rate swaps, options and forward rate agreements.

	30 June 1995	30 June 1994
	$000	$000
Interest rate swaps	725,000	n/a
Interest rate options	110,000	n/a
Forward rate agreements	460,000	n/a

The cash settlement for interest rate swaps, as at 30 June 1995, is the net interest payable of $28,000. For interest rate options and forward rate agreements the best approximation of the cash settlement amount is the current market value which is a liability of $29,000 and $833,000 respectively.

(iii) Interest Rate Repricing

The interest repricing profile for the Group of on and off balance sheet financial instruments, together with the weighted average interest rate for those instruments on maturity are:

Amount of Group borrowings subject to repricing:

	30 June 1995	30 June 1994
	Principal $000	Weighted Average Interest Rate
Within one year	504,025	7.31%
One to two years	375,000	8.16%
Two to five years	375,000	8.63%
Later than five years	343,856	7.96%
	1,597,881

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VUW Te Waharoa — NZ Gazette 1995, No 139

NZLII — NZ Gazette 1995, No 139

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✨ LLM interpretation of page content

🏗️ Notes to the Financial Statements for Trans Power New Zealand Limited (continued from previous page)

Domain🏗️ Infrastructure & Public Works
KeywordsFinancial Statements, Foreign Exchange, Interest Rate Risk, Interest Rate Repricing

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