New Zealand Gazette – 2002 – No. 51

Page 1399

✨ Financial Statements

22 MAY
NEW ZEALAND GAZETTE
1399

2.3 NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS

(con't)

	2001 ($000)	2000 ($000)
12 Borrowings
The company had borrowings which support the requirements of the group and are not specific to a business line. The following profile is indicative of borrowings applicable to the gas lines.
Borrowings are made up as follows:
Bank loans	68,373	458,965
Commercial paper	143,155	78,455
Medium term notes – fixed rate NZ$	84,840	-
Medium term notes – floating rate A$	243,158	-
	539,526	537,420
The borrowing repayment terms are:
Payable within 1 year	8,547	77,220
Payable between 1 and 2 years	202,981	-
Payable between 2 and 3 years	-	460,200
Payable between 3 and 5 years	-	-
Payable after 5 years	327,998	-
	539,526	537,420

All borrowings are unsecured with all bank loans being subject to negative pledge arrangements. Commercial paper is supported by a 2 year standby facility made available by a syndicate of banks and is issued for various terms up to 90 days.

Interest rates for all bank loans are floating based on the bank bill rate plus a margin. Medium term notes – fixed rate NZ$ mature April 2007 and are shown at the value of proceeds received after deducting the discount on issue and adjusted for the amount amortised. Medium term notes – fixed rate A$ mature April 2008 and April 2011.

The weighted average interest rate is 5.3%.

	2001 ($000)	2000 ($000)
13 Dividend
Dividend paid	-	-
Dividend proposed	-	-

VUW Te Waharoa — NZ Gazette 2002, No 51

Gazette.govt.nz — NZ Gazette 2002, No 51

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

🏭 Notes to Financial Statements for UnitedNetworks (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Borrowings, Bank Loans, Commercial Paper, Medium Term Notes, Dividend

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