✨ Financial Instrument Rates
28 NOVEMBER 2011
NEW ZEALAND GAZETTE, No. 184
TRANSPOWER NEW ZEALAND LIMITED: INTEREST RATES NOTICES UNDER CLAUSE 3.4(1)
**Debt and related derivatives: Interests current and quality."
The following interest rates determinations made pursuant to provisions of agreements:
| Base rate reference | Currency | Rate value | Effective interest rate % p.a. | Derivative instrument and tenor | Notional amount denominated | Net interest receivable/payable NZD equivalent
|--------------------|-----------|------------|-------------------------------|-----------------------------|-----------------------------|
| BKBM + 1.90% | NZD | 3.71 | 15-Aug-11 (90) | AUD | 48,794.00 |
| BKBM + 1.15% | NZD | 2.96 | 15-Sep-11 (91) | USD | 3,513.00 |
| BKBM + 1.75% | NZD | 3.56 | 16-Aug-11 (360) | NOK | 159,195.00 |
| BKBM + 1.82% | NZD | 3.63 | 14-Sep-11 (60) | NZD | 18,174.00 |
| BKBM + 0.80% | NZD | 2.61 | 12-Sep-13 (180) | NZD | 6,800.00 |
| BKDM 2.00% | | 2.00 | 15-Jul-2020 | JPY | 150,000.00 |
| BKBM + 1.2% | | 3.01 | 15-Dec-2019 | GBP | 13,672.00 |
| | | | | |
Effective interest rates
| Date Rate Set | Tenor Days | Rate % | Int. Rate From | Days Remain | Pay Rate % | Fixed/Float | Notes |
|---|---|---|---|---|---|---|---|
| 15-Aug-11 | 90 | 4.8 | BKBM | 3.71 | 4.81 | Fixed | |
| 15-Aug-11 | 91 | 4.7 | BKBM | 3.60 | 4.7 | Fixed | |
| 16-Aug-11 | 360 | 4.6 | BKBM | 3.59 | 4.61 | Float | |
| 27-Sep-11 | 180 | 3.5 | BKBM | 2.36 | 4.3 | Float | |
| 15-Oct-2019 | 3.01 | ||||||
| 15-Jul-2020 | 2.00 |
Interest Rates Swaps - Cashflows
| Party Name | Effective Date | Maturity Date | Tenor (Days) | Pay Rate % | Receive Rate % | Notional Amount | Currency | Derivative Type | Net Cashflows |
|---|---|---|---|---|---|---|---|---|---|
| Bank A | 16-Aug-11 | 15-Nov-11 | 90 | 4.81 | BKBM | 50,000,000 | NZD | Swap | 48,794.00 |
| Bank A | 15-Sep-11 | 14-Dec-11 | 91 | 4.7 | BKBM | 16,000,000 | NZD | Swap | 3,513.00 |
| Bank B | 16-Aug-11 | 15-Aug-12 | 360 | 4.6 | BKBM | 400,000,000 | NOK | Cross Currency Swap | 159,195.00 |
| Bank C | 15-Aug-11 | 12-Sep-13 | 60 | 2.6 | 100,000,000 | NZD | Swap | 18,174.00 | |
| Bank C | 15-Aug-11 | 14-Dec-11 | 180 | 6.8 | 20,000,000 | NZD | Swap | 6,800.00 |
Other Rates
| Currency | Swap Rate Points |
|---|---|
| AUD | 55.0 BKBM + 4bps |
| USD | 63.1 |
| GBP | 106.3 |
| EUR | 119.0 |
| JPY | 28.0 |
Total Offsetting Notional and Payments
| Notional Amount | 55,000,000 BKBM + 12 |
|---|---|
| Gross Notional | 535,000,000 |
| Net Payment |
Financial Instrument Particulars
| Type of Transaction | Bank Counterparty |
|---|---|
| Swap | Bank A |
| Cross Currency Swap | Bank B |
| Swap | Bank C |
| Foreign Exchange | Various |
The table above includes fixed and floating rate transactions.
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NZ Gazette 2011, No 184
✨ LLM interpretation of page content
💰
Provisions for Transpower New Zealand Limited
(continued from previous page)
💰 Finance & RevenueFinancial statements, Debt, Financial instruments, Risk management, Transpower