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New Zealand Gazette – 2003 – 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 continued

FOR THE YEAR ENDED 30 JUNE 2003

20. FINANCIAL INSTRUMENTS continued

	Carrying Value 2003 $000	Fair Value 2003 $000	Carrying Value 2002 $000	Fair Value 2002 $000
LINES BUSINESS
On Balance Sheet
Short term investments	510	510	9,887	9,887
Debt	(1,129,737)	(1,178,551)	(1,157,424)	(1,183,032)
Off Balance Sheet
Cross currency interest rate swaps	378	8,430	2,548	13,926
Interest rate swaps	951	(25,355)	(1,767)	(9,764)
Forward rate agreements	-	58	-	2
Interest rate options	-	-	-	(2,507)

(f) 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 repriced and the current weighted average interest rate of each maturity. Transpower will transact further interest rate hedging in advance of the repricing 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 2003, No 162

Gazette.govt.nz — NZ Gazette 2003, No 162

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

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

Domain🏭 Trade, Customs & Industry
KeywordsFinancial statements, Financial instruments, Interest rate swaps, Cross currency interest rate swaps, Forward rate agreements, Interest rate options, Foreign exchange forward contracts, Credit risk exposure, Carrying value, Fair value

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