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Retrieving Data

Note 26

For the Year Ended 31 March 2011

UNSECURED SUBORDINATED BONDS
GROUP PARENT
2011 2010 2011 2010
$000 $000 $000 $000
Repayment terms and interest:
Maturing in September 2012, 8.5% p.a. fixed coupon rate 108,592 108,592 108,592 108,592
Maturing in March 2014, 8.5% p.a. fixed coupon rate 54,713 54,713 54,713 54,713
Maturing in December 2015, 8.4% p.a. fixed coupon rate 100,000 100,000 100,000 100,000
Bond issue costs (1,563) (2,099) (1,563) (2,099)
261,742 261,206 261,742 261,206
Current portion - - - -
Non-current portion 261,742 261,206 261,742 261,206
261,742 261,206 261,742 261,206
       

At maturity the bonds can be converted at the option of the Company to ordinary shares based on the market price of ordinary shares at the time. The bonds are fully subordinated behind all other creditors.

At 31 March 2011 the subordinated bonds had a fair value of $274,822,000 (31 March 2010: $274,286,000).