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Retrieving Data

Note 28: Unsecured Senior Bonds

GROUP PARENT
2013
$000
2012
$000
2013
$000
2012
$000
Repayment terms and interest:
Maturing in December 2014, 7.6% p.a. fixed coupon rate 75,000 75,000 75,000 75,000
Maturing in December 2016, 8.0% p.a. fixed coupon rate 65,000 65,000 65,000 65,000
Maturing in December 2017, 7.1% p.a. fixed coupon rate 75,000 75,000 75,000 75,000
Bond issue costs (2,162) (2,822) (2,162) (2,822)
212,838 212,178 212,838 212,178
           
The Group has entered a Master Trust Deed dated 30 October 2009 (the Trust Deed) with respect to its senior bonds, which with limited exceptions does not permit the Group to grant any security interest over its assets. The Trust Deed requires the Group to operate within defined performance and debt gearing ratios. The arrangements under the Trust Deed may also create restrictions over the sale or disposal of certain assets unless the senior bonds are repaid or renegotiated.

Throughout the period the Group has complied with all debt covenance requirements as imposed by the Bond Trustee (see above for requirements).

The unsecured senior bonds rank equally with bank loans (note 26).

At 31 March 2013 the senior bonds had a fair value of $230,681,000 (31 March 2012: $224,738,000).