New Zealand Gazette – 2001 – No. 53

Page 1207

✨ Financial Statements Notes

28 MAY NEW ZEALAND GAZETTE 1207

2.3 NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

(cont')

	($000)

12 Borrowings

Borrowings are made up as follows:

Bank loans
- current -
- non-current 537,420
Commercial paper 537,420

The borrowing repayment terms are:

Payable within 1 year 77,220
Payable between 1 and 2 years 460,200
Payable between 2 and 3 years
Payable between 3 and 4 years
Payable between 4 and 5 years 537,420

All borrowings are unsecured with all bank loans being subject to negative pledge arrangements. The company currently has borrowings of $537 million financed by two bridge loans which are due to expire in April 2001. These have been classified as long term borrowings on the basis that the loans are currently in the process of being refinanced in the domestic and international capital markets prior to their expiry.

Interest rates for all loans are floating based on the bank bill rate plus a margin. Interest rate risk is managed by fixed cover as per note 14. The weighted average interest rate on loans is 7.12%.

	($000)

13 Dividend

Dividend paid -
Dividend proposed -

14 Financial instruments

The company has a comprehensive treasury policy to manage the risks of financial instruments which has been approved by the board of directors.

Interest rate risk

The company has long term borrowings, which are used to fund ongoing activities. The company actively manages interest rate exposures in accordance with treasury policy. In this respect, at least 60% of all term debt must be fixed using interest rate swaps, forward rate agreements, options and similar derivative instruments.

The notional face values of outstanding derivative instruments at balance date are:

	($000)
Interest rate swaps	$403,000

At balance date, the weighted average interest rate for swaps is 6.77%.

VUW Te Waharoa — NZ Gazette 2001, No 53

Gazette.govt.nz — NZ Gazette 2001, No 53

The General Assembly Library (on the right) was completed in 1899 and survived the 1907 fire. Now the oldest remaining original Parliament building, still used as the Parliamentary Library.

✨ LLM interpretation of page content

🏭 Notes to Financial Statements for 9 months ended 31 December 2000 (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Borrowings, Dividends, Financial Instruments, Interest Rate Risk

As the Gazette has been published for more than 185 years, copyright status depends on the publication date of each issue:

1840–1925 (Public Domain): Issues of the New Zealand Gazette and Provincial Gazettes from this period are in the public domain, as the term of Crown copyright (100 years) has expired. Mechanical reproductions (e.g., scanned PDFs) of these public domain documents do not attract new copyright.
1926–1999 (Crown Copyright): Issues from this period remain subject to Crown copyright. Usage of these issues in this project is "Fair Dealing" for research purposes and consistent with the spirit of the open-access principles championed by NZGOAL, ie, "The default licensing position under ... NZGOAL is the Creative Commons Attribution 4.0 International licence ... [t]o the greatest extent possible, agencies should apply this licence to copyright material on their websites"
2000–Present (CC-BY 3.0 NZ): Gazette issues published on gazette.govt.nz are Crown copyright but are explicitly licensed by the Department of Internal Affairs under the Creative Commons Attribution 3.0 New Zealand licence (CC-BY 3.0 NZ). This project redistributes this content in accordance with those terms.

Nothing in this project is intended to infringe copyright, trademark law or personal privacy. Please contact me immediately if you have any concerns.

Third-Party Content

Where third-party content (e.g., notices submitted by external organisations) is identified within the Gazette, users should satisfy themselves regarding the copyright status of that specific content, as it may be subject to different ownership terms than the Gazette itself.

Sources and Attribution

NZ Gazette Sources

The primary sources for the issues of the NZ Gazette indexed by this project are:

New Zealand Gazette Archive, provided by Victoria University Library, copyright 2008 LexisNexis NZ Limited, Crown Copyright of New Zealand Gazette Office
- Issues from 1841-2008, including the New Munster, New Ulster, and Provincial Gazettes
New Zealand Gazettes by New Zealand Legal Information Institute (note: "NZLII is not the copyright owner in the source documents published on NZLII")
- Issues from 1913-1999
Gazette.govt.nz, Crown copyright / licensed by the Department of Internal Affairs under CC-BY 3.0 NZ
- Issues from 2000-2017

Additional Sources

Wellington City Recollect have made available a comprehensive and excellent-quality scan of the Wellington Provincial Gazette which was used to fill in a number of issues missing from Victoria University's Gazette Archive; in particular, all 1856 issues, issues 22-34 for 1864 and issues 9-19 for 1870.
27 issues of The New Zealand Advertiser and Bay of Islands Gazette (1840) were sourced from Papers Past (public domain).
Gazette Extraordinary No. 1 (1840), held at the Alexander Turnbull Library, Wellington, New Zealand. Imaged by Luke Howison at the National Library reading rooms; PDF released into the public domain.

PDF Icon

The PDF PDF Icon was made by Good Ware, CC BY-SA 4.0.

Masthead

The logo in the header is an edited version of “Winning Coat of Arms Competition Entry, 1908” by Archives New Zealand, CC BY 2.0 (found via Wikipedia).

Who made this?

I'm Luke Howison, a freelance web developer with an interest in genealogy. I have created several websites for genealogical research, such as NZ Ancestor Search Helper.

New Zealand Gazette Index