Creating a new energy future – a bold vision
20. Borrowings continued
Bank facilities
New floating rate bank facilities were added as part of our debt management activities.
Capital bonds
Capital bonds of $307.2 million are subordinated bonds with the next election date set as 15 June 2022. The interest rate was f ixed at 5.7% at the previous election date of 15 June 2017.
Wholesale bonds
$240.0 million of f ixed rate wholesale bonds were issued at a f ixed rate of 4.996% maturing in March 2024. $170.0 million of f ixed rate wholesale bonds were issued at a f ixed rate of 1.575% maturing in October 2026.
Senior notes
DATE ISSUED
AMOUNT ISSUED NZD
AMOUNT ISSUED USD
DATE OF MATURITY
March 2020 $797.1 million
$500.0 million
$573.9 million (USD $360.0 million) matures in October 2032 and $223.2 million (USD $140.0 million) matures in October 2035. $277.2 million (USD $200 million) matures in October 2027. $138.6 million (USD $100.0 million) matures in October 2029. $150.0 million (USD $130.0 million) matures in October 2021. $250.5 million (USD $182.0 million matures in December 2022.
October 2017 $415.8 million
$300.0 million
October 2014 $150.0 million December 2010 $250.5 million
$130.0 million $182.0 million
Covenants
All borrowings are unsecured and are subject to negative pledge arrangements and various lending covenants. These have all been met for the years ended 30 June 2021 and 30 June 2020.
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