New Zealand Gazette – 2006 – No. 170

Page 4935

✨ Financial Statements

POWERCO

GAS DIVISION

c) Maturity profile of financial instruments

The table below represents the expected fair value at 30 June 2006 of any floating rate debt or other debt that is repriced prior to maturity.

Financial assets: Trade and other receivables	NZD'000	Variable rate NZD'000	1 year % Weighted average interest rate %	1-2 years NZD'000	2-3 years NZD'000	3-4 years NZD'000	4-5 years NZD'000	More than 5 years NZD'000	Non-interest bearing NZD'000
Bank overdraft	4,580		7.40%						4,580
Guaranteed bonds			6.67%	33,519	20,845	20,973	20,713	55,024	151,074
US Dollar private placement notes			5.25%					67,717	67,717
Commercial bank debt			7.24%					35,604	35,604
US asset currency interest rate swaps		67,868			3,316	3,045	14,240	8,025	96,494

| Total | | 4,580 | 67,868 | | 33,519 | 24,161 | 24,018 | 34,953 | 166,370 | 355,469 |

| Financial liabilities: Trade and other payables | Maturity dates | | | | | | | | | |
| Bank overdraft | | 1,638 | | 6.80% | | | | | | 1,638 |
| Subordinated bonds | | | | 7.64% | | 19,025 | | 57,880 | | 76,905 |
| Guaranteed bonds | | | | 5.56% | 18,658 | 47,734 | | | | 66,392 |
| US Dollar private placement notes | | | | 7.03% | | | | 57,553 | | 57,553 |
| Commercial paper facility | | | | | | 29,067 | | | 29,587 | 58,654 |
| Commercial bank debt | | | 95,667 | | | | | | 105,533 | 201,200 |

| Total | | 1,638 | 95,667 | | 18,658 | 95,826 | - | 115,433 | 135,120 | 462,742 |

The carrying value details the exposure to interest rate risk at 30 June 2006.

The following table details the Group’s exposure at the fair value of these assets and liabilities:

Financial assets: Trade and other receivables	NZD'000	Variable rate NZD'000	1 year % Weighted average interest rate %	1-2 years NZD'000	2-3 years NZD'000	3-4 years NZD'000	4-5 years NZD'000	More than 5 years NZD'000	Non-interest bearing NZD'000
Bank overdraft	4,580		7.40%						4,580
Guaranteed bonds			6.67%		20,845	20,973	20,713	67,717	130,248
US Dollar private placement notes			5.25%	27,220					27,220
Commercial bank debt			7.24%	2,720	28,843	24,919	8,259		64,741
US asset currency interest rate swaps		67,868		2,290	3,163	3,345		41,240	117,906

| Total | | 4,580 | 67,868 | | 32,230 | 52,851 | 49,237 | 28,972 | 108,957 | 344,704 |

| Financial liabilities: Trade and other payables | Maturity dates | | | | | | | | | |
| Bank overdraft | | 1,638 | | 6.80% | | | | | | 1,638 |
| Subordinated bonds | | | | 7.64% | 4,724 | | | | 57,880 | 62,604 |
| Guaranteed bonds | | | | 5.56% | | 18,658 | 47,734 | | | 66,392 |
| US Dollar private placement notes | | | | 7.03% | 19,865 | | | | | 19,865 |
| Commercial paper facility | | | | | | 29,067 | | 27,587 | | 56,654 |
| Commercial bank debt | | | 95,667 | | 2,357 | | | 4,734 | 19,885 | 122,643 |

| Total | | 1,638 | 95,667 | | 26,946 | 47,725 | 47,734 | 32,321 | 77,765 | 330,129 |

VUW Te Waharoa — NZ Gazette 2006, No 170

Gazette.govt.nz — NZ Gazette 2006, No 170

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

💰 Powerco Gas Division Financial Statements (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Statements, Revenue, Expenditure, Taxation, Borrowings, Powerco, Gas Division

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