New Zealand Gazette – 2009 – No. 172

Page 4190

✨ Financial Analysis of Transpower New Zealand Limited Lines Business

4190 NEW ZEALAND GAZETTE, No. 172 27 NOVEMBER 2009

TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS

	Effective interest rate	Within one year $000	One to two years $000	Two to five years $000	Greater than five years $000	Total $000
Assets
Cash	7.15%	11,014	-	-	-	11,014
Short term investments	8.33%	136,674	-	-	14,000	136,674
Long term investments	7.93%	147,688	-	4,000	20,000	171,688
Liabilities
Debt	8.62%	(166,938)	-	(351,963)	(658,382)	(1,177,283)
Derivatives		(166,938)	-	(351,963)	(658,382)	(1,177,283)
Interest rate swaps		2,183,368	(70,000)	(146,500)	(1,966,868)	-
Interest rate options		-	-	-	100,000	100,000
		2,183,368	(70,000)	(146,500)	(1,866,868)	100,000

Repricing Profile
| | 2,164,118 | (70,000) | (484,463) | (2,515,250) | (905,595) |

The interest rate on debt as amended by interest rate swaps is 7.00%.

	Within one year $000	One to two years $000	Two to five years $000	Greater than five years $000	Total $000
Non derivative financial assets
Trade and other receivables	61,193	653	-	-	61,846
Non derivative financial liabilities
Trade and other payables	81,348	2,723	-	-	84,071
Current tax liability	12,919	-	-	-	12,919
Finance lease liabilities	197	583	836	-	1,616
External borrowings
Principal	(130,000)	(100,000)	(245,761)	(778,369)	(1,254,131)
Interest payments	(52,894)	(29,394)	(120,192)	(138,349)	(340,828)
	(88,430)	(146,088)	(365,117)	(916,718)	(1,516,353)
Derivatives
Derivative contracts - receipts	92,672	94,799	540,214	905,126	1,632,811
Derivative contracts - payments	(120,611)	(134,423)	(692,466)	(968,349)	(1,915,849)
	(27,939)	(39,624)	(152,252)	(63,223)	(283,038)

	Within one year $000	One to two years $000	Two to five years $000	Greater than five years $000	Total $000
Non derivative financial assets
Trade and other receivables	32,817	3,125	-	-	35,942
Current tax asset	958	-	-	-	958
	33,775	3,125	-	-	36,900
Non derivative financial liabilities
Trade and other payables	61,218	2,279	-	-	63,495
Finance lease liabilities	146	520	975	-	1,641
External borrowings
Principal	(155,693)	-	(330,125)	(677,806)	(1,163,624)
Interest payments	(47,030)	(47,025)	(115,008)	(144,371)	(353,434)
	(202,723)	(47,228)	(445,133)	(822,177)	(1,517,261)
Derivatives
Derivative contracts - receipts	306,993	169,819	779,470	1,157,685	2,413,967
Derivative contracts - payments	(349,891)	(183,350)	(810,675)	(1,091,389)	(2,435,305)
	(42,898)	(13,531)	(30,605)	66,296	(20,738)

Next Page →