| NOTES TO THE FINANCIAL STATEMENTS l NOTE 18 |
|
18. |
Interest-bearing borrowings |
| |
|
Facility
(drawn
down)
R000 |
|
Secured
by investment
property
at fair
value |
|
Capital
repayment
date |
|
Interest
rate |
|
GROUP
June 2014
R000 |
|
GROUP
June 2013
R000 |
|
COMPANY
June 2014
R000 |
|
COMPANY
June 2013
R000 |
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| |
SA rand bank facilities |
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Nedbank |
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R8,9 billion |
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R2,3 billion of the Nedbank loans are fixed at an average rate of 8,7% and have an average maturity of 4,2 years |
903 642 |
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|
April 2015 |
|
Prime — 1,8% |
|
722 914# |
|
722 913 |
|
722 914# |
|
722 913 |
|
| |
|
1 203 935 |
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|
August 2016 |
|
Prime — 1,8% |
|
656 186 |
|
655 087 |
|
656 186 |
|
655 087 |
|
| |
|
1 540 304 |
|
|
|
June 2018 |
|
Prime — 1,8% |
|
1 536 380 |
|
1 375 914 |
|
1 536 380 |
|
1 375 914 |
|
| |
Rand Merchant Bank (a division of
FirstRand Bank Limited) |
200 000 |
|
R3,0 billion
(40% of
Canal Walk) |
|
September
2014 |
|
JIBAR + 1,75% |
|
200 000# |
|
200 000 |
|
200 000# |
|
200 000 |
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| |
Fixed for the full term at an average rate of 10,1% |
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The Standard Bank of South Africa Limited |
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|
R5,1 billion
(40% of
Canal Walk,
75,15% of
The Glen) |
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The drawn down amount of R450 million was fixed for the full term at 9,4% |
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October 2013 |
|
Base rate
+ 1,60% |
|
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|
450 000# |
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|
450 000# |
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The drawn down amount of R393 million is floating |
880 000 |
|
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|
December
2014 |
|
JIBAR + 0,8% |
|
393 117# |
|
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|
393 117# |
|
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US dollar bank facilities |
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RMB |
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|
R3,0 billion
(40% of
Canal Walk) |
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The drawn down amount of R172,3 million (USD16,2 million) is fixed for the full term at 4,7% |
USD30 million |
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|
May 2018 |
|
LIBOR + 3,2% |
|
172 272 |
|
76 151 |
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The Standard Bank of South Africa Limited |
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The drawn down amount of R603,3-million (USD57,5 million) is floating |
USD57,5 million |
|
USD153 million |
|
December
2016 |
|
LIBOR + 4,75% |
|
603 259 |
|
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Standard Finance (Isle of Man) Limited |
USD40 million |
|
R5,1 billion
(40% of
Canal Walk,
75,15% of
The Glen) |
|
Otcober 2017 |
|
LIBOR + 3,17% |
|
417 639 |
|
256 421 |
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The drawn down amount of R417,6 million (USD39,6 million) is fixed for the full term at an average rate of 4,2% |
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Standard Finance (Isle of Man) Limited |
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The drawn down amount of R192,7 million (USD18,5 million) is fixed for the full term at an average rate of 4,5% |
USD20 million |
|
R5,1 billion
(40% of Canal
Walk, 75,15% of
The Glen) |
|
November
2018 |
|
LIBOR + 2,85% |
|
200 086 |
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Debt capital market funding |
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Corporate bonds |
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Six-year bond — fixed until October 2018
at 9,34% |
|
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|
November
2019 |
|
Base rate
+ 1,54% |
|
450 000 |
|
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|
450 000 |
|
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| |
Five-year bond — fixed for the full term
at 7,3% |
|
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September
2017 |
|
JIBAR + 1,50% |
|
300 000 |
|
300 000 |
|
300 000 |
|
300 000 |
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Five-year bond — fixed at an average rate-of 7,7% and an average maturity of 3,1-years |
|
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May 2018 |
|
JIBAR + 1,45% |
|
450 000 |
|
450 000 |
|
450 000 |
|
450 000 |
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Three-year bond(1) |
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July 2015 |
|
JIBAR + 1,34% |
|
400 000 |
|
400 000 |
|
400 000 |
|
400 000 |
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Commercial paper |
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Three-month commercial paper(1) |
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July 2014 |
|
JIBAR + 0,22% |
|
499 000# |
|
300 000# |
|
499 000# |
|
300 000# |
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| |
Three-month commercial paper |
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August 2014 |
|
JIBAR + 0,21% |
|
198 000# |
|
198 000# |
|
198 000# |
|
198 000# |
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Total interest-bearing borrowings |
|
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|
|
|
|
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|
7 198 853 |
|
5 384 486 |
|
5 805 597 |
|
5 051 914 |
|
| |
Reconciliation to the statements of financial position |
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Long term |
|
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5 185 822 |
|
4 436 486 |
|
3 792 566 |
|
4 103 914 |
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| |
Short term |
|
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|
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|
2 013 031# |
|
948 000# |
|
2 013 031# |
|
948 000# |
|
| |
Total interest-bearing borrowings |
|
|
|
|
|
|
|
|
7 198 853 |
|
5 384 486 |
|
5 805 597 |
|
5 051 914 |
|
| |
| (1) The three-year bond and R300 million of the commercial paper are fixed at an average rate of 9,1% and have an average maturity of 4,1 years |
At year-end, interest rates were fixed in respect of 71,4% (June 2013: 87%) of borrowings, at a weighted average rate of 7,5% (June 2013: 8,1%).
The gearing ratio at year-end was 28,4% (June 2013: 22,9%). |
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