β¨ Financial Statements
Notes to and Forming Part of the Financial Statements
For the year ended 30 June 2006
POWERCO
ELECTRICITY DIVISION
1 BORROWINGS
Non-current liabilities at amortised cost
| 30 June 06 | 30 June 05 | |
|---|---|---|
| NZ$000 | NZ$000 | |
| Subordinated bonds | 53,896 | 45,576 |
| Guaranteed bonds | 227,550 | 114,621 |
| US Dollar private placement notes | 141,591 | 137,949 |
| Commercial bank debt | 89,256 | 75,621 |
| Total | 512,293 | 373,767 |
Current liabilities at amortised cost
| 30 June 06 | 30 June 05 | |
|---|---|---|
| NZ$000 | NZ$000 | |
| Bank overdraft | 15,899 | 4,891 |
| Commercial paper facility | 83,678 | 69,803 |
| Commercial bank debt | - | 85,074 |
| Total | 99,577 | 159,768 |
(a) Subordinated bonds
| 30 June 06 | 30 June 05 | |
|---|---|---|
| NZ$000 | NZ$000 | |
| Subordinated bonds | 55,785 | 47,265 |
| Adjustment for the fair value of the interest rate risk | (297) | - |
| 55,488 | 47,265 | |
| Deferred funding costs | (1,592) | (1,689) |
| Carrying value of subordinated bonds | 53,896 | 45,576 |
The Subordinated Bonds were issued on 15 April 2005 and are unsecured, subordinated debt obligations of Powerco Limited. They have a tenure of 5 years and have an interest rate of 7.64% p.a. fixed until expiry on 15 April 2010.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2006, No 169
Gazette.govt.nz —
NZ Gazette 2006, No 169
β¨ LLM interpretation of page content
π° Powerco Electricity Division Borrowings
π° Finance & RevenueFinancial Statements, Borrowings, Non-current liabilities, Current liabilities, Subordinated bonds, Guaranteed bonds, US Dollar private placement notes, Commercial bank debt, Bank overdraft, Commercial paper facility