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Retrieving Data

Note 26

For The Year Ended 31 March 2012

UNSECURED SUBORDINATED BONDS

GROUP PARENT
2012 2011 2012 2011
    $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   (1,028) (1,563) (1,028) (1,563)
  262,277 261,742 262,277 261,742
 
Current portion   108,592 - 108,592 -
Non-current portion   153,685 261,742 153,685 261,742
    262,277 261,742 262,277 261,742
 

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 2012 the subordinated bonds had a fair value of $273,213,000 (31 March 2011: $274,822,000).