✨ Financial Tables
25 NOVEMBER 2013 NEW ZEALAND GAZETTE, No. 155 4353
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
Debt and related derivatives - interest rate, currency and liquidity risk
The table below details the Company's exposure to interest rate, currency and liquidity risk. The table reflects the undiscounted cash flows of financial liabilities (including derivative financial instruments) based on the earliest date on which the Company can be required to pay. The effective NZD cash flows for derivatives are presented on a net basis. The effective net cash flows of derivatives are settled by the Company on a net basis (2012: 2.62%).
LINES BUSINESS 2013
| Debt and Company | Face value | Currency | Effective interest rate | Receive derivative | Pay derivative | Debt fair value | Derivative fair value | Total fair value | Within one year | One to two years | Two to three years | Three to four years | Four to five years | Greater than five years |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bonds | ||||||||||||||
| ECP & CP | ||||||||||||||
| Bonds 2013 | 23-Aug-13 | 40.0 | NZD | 2.73% | 40.0 | (0.2) | 39.8 | 50.0 | ||||||
| Bonds 2015 | 27-Aug-13 | 100.0 | NZD | 0.26% | 1290.0 | 2.65% | 129.8 | (0.2) | 129.6 | 129.7 | ||||
| Bonds 2015 | 3-Dec-15 | 75.0 | NZD | BKBM + 110 bp | 75.3 | 2.9 | 78.2 | 3.5 | 76.9 | |||||
| Bonds 2016 | 7-Jun-16 | 100.0 | NZD | BKBM + 95 bp | 102.5 | 4.6 | 107.1 | 1.9 | 2.2 | 103.0 | ||||
| Bonds 2017 | 15-Sep-17 | 50.0 | NZD | BKBM + 66 bp | 53.9 | 4.9 | 58.8 | 1.9 | 2.2 | 2.5 | 52.0 | |||
| Bonds 2018 | 20-Jun-18 | 100.0 | NZD | BKBM + 70 bp | 107.8 | 6.8 | 114.6 | 6.8 | 7.8 | 8.8 | 7.8 | 100.1 | ||
| Bonds 2019 | 6-Jun-19 | 200.0 | NZD | 4.65% | 200.8 | 5.5 | 206.3 | 8.1 | 9.6 | 10.7 | 11.3 | 12.0 | ||
| Bonds 2019 | 6-Jun-19 | 100.0 | NZD | 4.65% | 100.4 | 2.7 | 103.1 | 4.1 | 4.8 | 5.4 | 5.7 | 6.0 | ||
| Bonds 2020 | 15-Sep-20 | 200.0 | NZD | BKBM + 21 bp | 198.7 | (23.4) | 175.3 | 4.5 | 5.6 | 6.4 | 7.0 | 7.4 | ||
| Bonds 2021 | 15-Sep-21 | 100.0 | NZD | BKBM + 25 bp | 98.6 | (11.1) | 87.5 | 2.2 | 2.7 | 3.1 | 3.4 | 3.7 | ||
| Bonds 2023 | 6-Jun-23 | 100.0 | NZD | 5.45% | 106.8 | 0.7 | 107.5 | 2.1 | 2.4 | 2.7 | 2.9 | 3.0 | ||
| Bonds 2025 | 6-Jun-25 | 100.0 | NZD | 5.45% | 106.8 | 2.7 | 109.5 | 2.4 | 2.7 | 3.0 | 3.2 | 3.3 | ||
| Term borrowing | ||||||||||||||
| BTM facility | 5-May-14 | 100.0 | NZD | BKBM + 50bp | 100.4 | 100.4 | 3.1 | 102.9 | ||||||
| BTM facility | 17-May-16 | 100.0 | NZD | BKBM bid + 50bp | 100.1 | 100.1 | 3.0 | 3.2 | 102.9 | |||||
| EMTN | ||||||||||||||
| CHF EMTN | 27-Aug-14 | 300.0 | CHF | 3.39% | 343.9 | BKBM + 37.5bp | 437.0 | (92.6) | 344.4 | 11.3 | 14.9 | 3.4 | 3.9 | 4.1 |
| HKD EMTN | 27-Sep-16 | 250.0 | HKD | 4.00% | 40.0 | BKBM + 120bp | 313.7 | 2.2 | 315.9 | 11.2 | 12.5 | 13.7 | 15.1 | 18.9 |
| USPP EMTN | 24-Mar-20 | 400.0 | HKD | 4.00% | 400.0 | BKBM + 120bp | 371.3 | (2.2) | 369.1 | 2.9 | 3.4 | 5.1 | 5.7 | 6.0 |
| USPP | ||||||||||||||
| USPP 2016 | 6-Aug-13 | 25.0 | USD | 5.59% | 41.1 | BKBM + 22.3 bp | 37.2 | 3.1 | 40.3 | 1.2 | 1.6 | 1.8 | 41.6 | |
| USPP 2018 | 13-Oct-18 | 25.0 | USD | 3.43% | 284.4 | BKBM + 197 bp | 335.0 | (0.5) | 334.5 | 13.3 | 15.1 | 17.0 | 18.9 | 18.9 |
| USPP 2021 | 13-Oct-21 | 250.0 | USD | 3.43% | 284.4 | BKBM + 197 bp | 335.0 | (0.5) | 334.5 | 13.3 | 15.1 | 17.0 | 18.9 | 18.9 |
| USPP 2023 | 13-Oct-23 | 75.0 | USD | 3.58% | 95.6 | BKBM + 197 bp | 98.3 | (0.4) | 97.9 | 4.4 | 5.1 | 5.7 | 6.0 | 6.3 |
| USPP 2025 | 13-Oct-25 | 75.0 | USD | 3.58% | 95.6 | BKBM + 197 bp | 98.3 | (0.4) | 97.9 | 4.4 | 5.1 | 5.7 | 6.0 | 6.3 |
| USPP 2028 | 13-Oct-28 | 75.0 | USD | 3.63% | 95.6 | BKBM + 197 bp | 98.3 | (0.4) | 97.9 | 4.4 | 5.1 | 5.7 | 6.0 | 6.3 |
| 3,923.7 | (93.7) | 2,820.0 | 289.1 | 544.8 | 391.5 | 500.9 | 99.4 | |||||||
| Debt short term | 179.1 | |||||||||||||
| Debt long term | 2,791.1 | |||||||||||||
| Debt face value (as per above) | 79.1 | |||||||||||||
| New Zealand dollar debt | 1,249.8 | |||||||||||||
| Debt accounting for related foreign exchange derivatives | 2,875.0 | |||||||||||||
| 3,114.8 | (93.7) | 2,930.0 |
A portion of the above floating rate BKBM liabilities is fixed via interest rate swaps (IRS) as per the Group's treasury policy. The table below shows the maturity of interest rate swaps and the net cash flows from these derivatives. The table reflects the undiscounted cash flows of financial liabilities (including derivative financial instruments) based on the earliest date on which the Company can be required to pay. The effective NZD cash flows for derivatives are presented on a net basis. The effective net cash flows of derivatives are settled by the Company on a net basis (2012: 2.62%).
Notional value of interest rate swaps maturing by time banding (net settled) - liabilities
Within one year | 5.7
One to two years | 29.9 | 18.0 | 47.9
Two to three years | 19.3 | 18.8 | 6.3 | 44.4
Three to four years | 20.4 | 12.0 | 18.8 | 18.5 | 69.7
Four to five years | 0.1 | 0.7 | 0.6 | 1.0 | 2.4
Greater than five years | 21.0 | 15.6 | 18.0 | 27.6 | 66.8 | 149.0
Net cash outflows on IRS - liabilities | 91.5 | 64.6 | 43.7 | 47.1 | 66.8 | 367.9
Notional value of interest rate swaps maturing by time banding (net settled) - assets
Within one year | 0.9 | 0.1 | (0.4) | (0.8) | (0.5) | (0.7)
One to two years | | | | | | |
Two to three years | | | | | | |
Three to four years | | | | | | |
Four to five years | (0.6) | 0.1 | (0.4) | (0.8) | (0.5) | (0.7)
Greater than five years | | | | | | |
Net cash outflows on IRS - assets | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1
Cash and cash equivalents | 0.4 | 0.1 | 0.1 | 0.1 | 0.1 | 0.4
Other financial liabilities | 234.8
Trade and other payables | 52.1 | 0.1 | 0.1 | 0.1 | 0.1 | 91.0
Cash and cash equivalents | 0.4 | 0.1 | 0.1 | 0.1 | 0.1 | 0.6
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NZ Gazette 2013, No 155
✨ LLM interpretation of page content
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Transpower New Zealand Limited Statement of Accounting Policies
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🏭 Trade, Customs & IndustryFinancial Statement, Credit Spreads, Fair Value, Sensitivity Analysis, Currency Risk, Debt, Derivatives, Investments, Yield Curve, Operating Risks, Foreign Purchases, Hedge Accounting, Foreign Exchange Contracts, Commodity Risk, Customer Credit Risk, Insurance Risk, Regulatory Risk