✨ Financial Statements




Notes to and Forming Part of the Financial Statements

For the year ended 30 June 2006

POWERCO

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 PDF NZ Gazette 2006, No 169


Gazette.govt.nz PDF NZ Gazette 2006, No 169





✨ LLM interpretation of page content

πŸ’° Powerco Electricity Division Borrowings

πŸ’° Finance & Revenue
Financial Statements, Borrowings, Non-current liabilities, Current liabilities, Subordinated bonds, Guaranteed bonds, US Dollar private placement notes, Commercial bank debt, Bank overdraft, Commercial paper facility