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New Zealand Gazette – 2002 – No. 173

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✨ Financial Statements

29 NOVEMBER

NEW ZEALAND GAZETTE

4381

TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS continued

FOR THE YEAR ENDED 30 JUNE 2002

20. FINANCIAL INSTRUMENTS continued

	Carrying Value 2002 $000	Fair Value 2002 $000	Carrying Value 2001 $000	Fair Value 2001 $000
LINES BUSINESS
On Balance Sheet
Short term investments	9,887	9,887	-	-
Debt	(1,157,424)	(1,183,032)	(1,222,660)	(1,254,232)
Off Balance Sheet
Cross currency interest rate swaps	2,548	13,926	5,321	20,377
Foreign exchange forward contracts hedging foreign currency debt	-	-	-	(202)
Foreign exchange forward contracts hedging foreign currency purchases	-	-	-	(47)
Interest rate swaps	(1,767)	(9,764)	(4,065)	(12,737)
Forward rate agreements	-	2	-	(61)
Interest rate options	-	(2,507)	-	(2,611)
Foreign exchange options	-	-	-	-

(f) Interest rate repricing 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 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 2002, No 173

Gazette.govt.nz — NZ Gazette 2002, No 173

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 Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Instruments, Fair Value, Market Rates, Unrealised Costs, Interest Rate Risk

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