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New Zealand Gazette – 1999 – No. 190

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✨ Financial Statements Notes

10 DECEMBER

NEW ZEALAND GAZETTE

4533

TRANSPOWER NEW ZEALAND LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 1999

21. FINANCIAL INSTRUMENTS (cont...)

LINES BUSINESS	LINES BUSINESS	GROUP	GROUP
Carrying Value	Fair Value	Carrying Value	Fair Value
1999	1999	1998	1998
$000	$000	$000	$000

LINES BUSINESS
Carrying value/fair value

On Balance Sheet
Debt (1,278,837) (1,345,056) (1,364,588) (1,430,446)

Off Balance Sheet
Cross currency interest rate swaps 3,476 30,656 4,416 45,306
Foreign exchange forward contracts hedging - 235 - 161
Foreign currency purchases - - - -
Interest rate swaps (4,903) (19,045) (4,662) (4,262)
Forward rate agreements - 2 - 299
Interest rate options - (614) - (834)

(i) Interest rate re-pricing analysis
The following table covers Transpower’s total debt portfolio, including the effect of off balance sheet financial instruments when interest rates will be re-priced and the current weighted average interest rate of each maturity. Transpower will transact further interest rate hedging in advance of the re-pricing date to fix interest rates on the Company debt portfolio within the policy parameters adopted by the Board.

Trade receivables/creditors, other receivables and other liabilities have not been included in the table below as they are not interest rate sensitive.

Forward rate agreements are also excluded from the re-pricing analysis as these contracts mature within one year. For the purpose of re-pricing, debt denominated in foreign currencies is stated after applying cross currency interest rate swaps.

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VUW Te Waharoa — NZ Gazette 1999, No 190

NZLII — NZ Gazette 1999, No 190

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🏭 Transpower New Zealand Limited Financial Instruments Notes (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Instruments, Fair Value, Market Rates, Unrealised Costs, Interest Rate Swaps, Foreign Exchange Forward Contracts

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