Notes to the Consolidated Financial Statements
Long-term debt consists of the following:
2021
2020
Principal Outstanding (millions)
Principal Outstanding (millions)
Effective Interest Rate
Effective Interest Rate
GENERAL REVENUE FUND 1 - 5 years
$
175
5.6% $
134 142
4.1% 7.0% 6.4% 3.3% 4.0% 3.4% 3.0%
67 60
4.9% 6.4% 4.0% 3.7% 3.1% 2.7%
6 - 10 years 11 - 15 years 16 - 20 years 21 - 25 years 26 - 30 years 31 plus years
60
189 300 515 150
114 225 450 215
1,456
1,340
Unamortized debt premium/discount and issue costs
24
14
1,480
1,354
OTHER LONG-TERM DEBT 21 - 25 years
5
13.5%
5
13.5%
1,485
1,359
-
Less: Current portion of long-term debt
(34)
$
1,485
$
1,325
Long-term debt is unsecured. As at March 31, 2021 principal repayments due in each of the next five fiscal years were as follows:
(millions)
2022
2023
2024
2025
2026
Principal repayments
$
- $
- $
-
$
100
$
75
On April 13, 2021, the Corporation entered into an agreement with the Province to borrow an additional $50 million of long-term debt with an interest rate of 2.8 per cent maturing in 2052.
p.75
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