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New Zealand Gazette – 2000 – No. 162

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✨ Financial Statements Notes

NEW ZEALAND GAZETTE

No. 162

TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2000

20. FINANCIAL INSTRUMENTS (cont...)

	Carrying Value 2000 $000	Fair Value 2000 $000	Carrying Value 1999 $000	Fair Value 1999 $000
GROUP
On Balance Sheet
Debt	(1,252,084)	(1,255,659)	(1,278,837)	(1,545,056)
Off Balance Sheet
Cross currency interest rate swaps	3,691	22,371	3,476	30,656
Foreign exchange forwards contracts hedging foreign currency debt	-	-	-	-
Foreign exchange forward contracts hedging foreign currency purchases	-	306	-	235
Interest rate swaps	(3,373)	(19,439)	(4,903)	19,045
Forward rate agreements	-	(111)	-	2
Interest rate options	-	(888)	-	(614)
Foreign exchange forward contracts	-	-	-	-

(f) Interest rate re-pricing analysis

The following table covers Transpower’s total debt portfolio, including the effect of off balance sheet financial instruments whom 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.

VUW Te Waharoa — NZ Gazette 2000, No 162

Gazette.govt.nz — NZ Gazette 2000, No 162

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

✨ LLM interpretation of page content

🏭 Transpower New Zealand Limited Notes to the Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Instruments, Fair Value, Debt, Cross Currency Interest Rate Swaps, Foreign Exchange Forward Contracts, Interest Rate Swaps, Forward Rate Agreements, Interest Rate Options, Interest Rate Re-pricing Analysis

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