126 / 156
NOTES TO THE FINANCIAL STATEMENTS
continued
for the year ended 30 June 2015
18. Borrowings
continued
Capital
repayment
date
Interest
rate
GROUP
June 2015
R000
GROUP
June 2014
R000
COMPANY
June 2015
R000
COMPANY
June 2014
R000
Debt capital market funding
Corporate bonds
Six-year bond – fixed until October 2020 at 9,39%
November 2019 Base rate + 1,54%
450 000
450 000
450 000
450 000
Five-year bond – fixed for the full term at 7,33%
September 2017
JIBAR + 1,50%
300 000
300 000
300 000
300 000
Five-year bond – fixed at an average rate of 7,69% and an
average maturity of 1,9 years
May 2018
JIBAR + 1,45%
450 000
450 000
450 000
450 000
Three-year bond
(1)
July 2015
JIBAR + 1,34%
400 000
#
400 000
400 000
#
400 000
Five-year bond – fixed until September 2019 at 9,23%
November 2019
JIBAR + 1,5%
200 000
200 000
Commercial paper
Three-month commercial paper
(1)
October 2015
JIBAR + 0,36%
182 000
#
499 000
#
182 000
#
499 000
#
Three-month commercial paper
August 2015
JIBAR + 0,36%
190 000
#
198 000
#
190 000
#
198 000
#
Total interest-bearing borrowings
6 691 909
7 198 853
4 498 838
5 805 597
African Land – the loan is unsecured, bears no interest and is
payable on demand
761 128
Total non-interest-bearing borrowings
761 128
Reconciliation to the statements of financial position
Non-current
5 919 909
5 185 822
3 726 838
3 792 566
Long-term portion of interest-bearing borrowings
5 919 909
5 185 822
3 726 838
3 792 566
Current
772 000
#
2 013 031
#
1 533 128
#
2 013 031
#
Short-term portion of interest-bearing borrowings
772 000
#
2 013 031
#
772 000
#
2 013 031
#
African Land
761 128
Total borrowings
6 691 909
7 198 853
5 259 966
5 805 597
(1)
The three-year bond and R300 million of the commercial paper are fixed at an average rate of 9,4% and have an average maturity of 6,6 years.
#
Short term
At year-end, interest rates were fixed in respect of 94,5% (June 2014: 71,4%) of borrowings, at a weighted average rate of 7,1% (June 2014: 7,5%).
The loan to value ratio at year-end was 22,9% (June 2014: 26,6%).
124
Hyprop Investments Limited
Integrated Report 2015
FINANCIAL STATEMENTS