New Zealand Gazette – 2001 – No. 163

Page 3993

✨ Financial Statements

TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS continued

FOR THE YEAR ENDED 30 JUNE 2001

21. FINANCIAL INSTRUMENTS continued

	Carrying Value 2001 $000	Fair Value 2001 $000	Carrying Value 2000 $000	Fair Value 2000 $000
LINES BUSINESS
On Balance Sheet
Debt	(1,222,660)	(1,254,232)	(1,245,759)	(1,260,334)
Off Balance Sheet
Cross currency interest rate swaps	5.32	20.377	3.691	22.371
Foreign exchange forward contracts hedging	-	(202)	-	-
Foreign currency debt	-	-	-	-
Foreign exchange forward contracts hedging foreign currency purchases	-	(47)	-	306
Interest rate swaps	(4,065)	(12,737)	(3,373)	(19,439)
Forward rate agreements	-	(161)	-	(111)
Interest rate options	-	(2,611)	-	(888)
Foreign exchange options	-	-	-	-

(D) 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 instrument. Transpower will transact further interest rate hedging in advance of these 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 2001, No 163

Gazette.govt.nz — NZ Gazette 2001, No 163

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

✨ LLM interpretation of page content

🏭 Transpower New Zealand Limited Lines Business Financial Position (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Financial Risks, Interest Rate Risk, Currency Risk, Credit Risk, Liquidity Risk, Debt Facilities, Term Investments, Interest Rate Swaps, Fair Value

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