Notes to the Consolidated Financial Statements
Long-term debt consists of the following:
2025
2024
Principal Outstanding (millions)
Effective Interest Rate
Principal Outstanding (millions)
Effective Interest Rate
GENERAL REVENUE FUND 1 - 5 years
$
142 185 114 275 450 490 200
7.0% $
241
5.4% 5.7% 3.6% 3.9% 3.4% 3.0% 3.3%
4.7% 3.3% 4.1% 3.4% 3.4% 3.0%
6 - 10 years 11 - 15 years 16 - 20 years 21 - 25 years 26 - 30 years 31 plus years
85 82
308 450 340 250
1,856
1,756
1
Unamortized debt premium/discount and issue costs
6
1,857
1,762
OTHER LONG-TERM DEBT 16 - 20 years
5
13.5%
5
13.5%
1,862
1,767
(75)
Less: Current portion of long-term debt
(100)
$
1,787
$
1,667
Long-term debt is unsecured. As at March 31, 2025, principal repayments due in each of the next five fiscal years are as follows: (millions) 2026 2027 2028 2029 2030 Principal repayments $ 75 $ 17 $ - $ 50 $ - During the fiscal year, the Corporation issued $200 million in long-term debt in three increments. Factoring in discounts and commissions, net long-term debt issuances were $195 million. The first increment of $100 million was issued at a discount of $4 million with a coupon rate of 3.9 per cent maturing in 2033. The second increment of $50 million was issued at a discount of $1 million with a coupon rate of 4.2 per cent maturing in 2054. The third increment of $50 million was issued with a coupon interest rate of 4.2 per cent maturing in 2054. 18. Commitments As at March 31, 2025, the Corporation had $170 million (2024 - $163 million) of outstanding contractual commitments for the procurement of goods and services in the future. The Corporation entered into commodity contracts for the physical purchase of natural gas that qualify as own-use contracts. As at March 31, 2025, own-use natural gas derivative instruments had the following notional values and maturities: (millions) 2026 2027 2028 2029 2030 Thereafter OWN-USE PHYSICAL NATURAL GAS CONTRACTS Notional value $ 89 $ 94 $ 92 $ 109 $ 84 $ 145
Notional value - estimated undiscounted cash outflow
81
Made with FlippingBook Ebook Creator