Vector AR’19 ― notes to the financial statements (continued)
18. Borrowings
FAIR VALUE ADJUSTMENT ON HEDGED RISK $M
FACE VALUE $M
UNAMORT- ISED COSTS $M
CARRYING VALUE $M
FAIR VALUE $M
MATURITY DATE Mar 2020 – Jul 2021
2019
CURRENCY
Bank facilities – variable rate
NZD
395.0 307.2
(1.2) (1.0)
– –
393.8 306.2
393.8 345.7
Capital bonds – 5.7% fixed rate NZD
–
Wholesale bonds – 4.996% fixed rate Senior notes – fixed rate
NZD
Mar 2024
240.0
3.9
–
243.9
278.7
USD
Sep 2019 – Sep 2029 Oct 2020 May 2025
1,112.9
(2.1) (0.5)
109.7
1,220.5
1,291.6
350.0
–
349.5
351.8
Floating rate notes – variable rate NZD
Unsubordinated bonds – 3.45% fixed rate
NZD
250.0
(2.9) (3.8)
–
247.1
277.3
Balance at 30 June
2,655.1
109.7
2,761.0
2,938.9
FAIR VALUE ADJUSTMENT ON HEDGED RISK $M
FACE VALUE $M
UNAMORT- ISED COSTS $M
CARRYING VALUE $M
FAIR VALUE $M
MATURITY DATE Mar 2020 – Feb 2021
2018
CURRENCY
Bank facilities – variable rate
NZD
110.0 307.2
(1.1) (1.3)
– –
108.9 305.9
108.9 324.9
Capital bonds – 5.7% fixed rate NZD
–
Wholesale bonds – 4.996% fixed rate Senior notes – fixed rate
NZD
Mar 2024
240.0
4.4
–
244.4
244.1
USD
Sep 2019 – Sep 2029 Oct 2020 Jan 2019
1,112.9
(2.6) (1.0)
52.6
1,162.9
1,150.7
Floating rate notes – variable rate NZD Medium term notes – 7.625% fixed rate GBP
350.0
–
349.0
342.4
285.6
(0.3) (1.9)
(61.1)
224.2
231.4
Balance at 30 June
2,405.7
(8.5)
2,395.3
2,402.2
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