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CIMIC Group Limited Annual Report 2016 |
Financial Report
Notes continued
for the 12 months to 31 December 2016
35. FINANCIAL INSTRUMENTS
CONTINUED
g)
Interest bearing loans
continued
Guaranteed Senior Notes
CIMIC Finance Limited (2008)
On 15 October 2008, CIMIC Finance Limited, issued a total of US$280.0 million Guaranteed Senior Notes in three series:
Series A Notes: US$111.0 million Guaranteed Senior Notes at the rate of 6.91% which matured on 15 October 2013
Series B Notes: US$90.0 million Guaranteed Senior Notes at the rate of 7.19% which matured on 15 October 2015
Series C Notes: US$79.0 million Guaranteed Senior Notes at the rate of 7.66% maturing on 15 October 2018
Interest on the above Notes is paid semi-annually on the 15
th
day of April and October in each year. Carrying amount at 31 December
2016: US$79.0 million (31 December 2015: US$79.0 million) equivalent to $109.7 million (31 December 2015: $108.2 million), of which
$nil million is due for repayment within twelve months from the reporting date.
CIMIC
Finance (USA) Pty Limited (2010)
On 21 July 2010, CIMIC Finance (USA) Pty Limited, a wholly owned subsidiary of the Company, issued a total of US$350.0 million
Guaranteed Senior Notes in three series:
Series A Notes: US$90.0 million Guaranteed Senior Notes at the rate of 4.51% which matured on 21 July 2015
Series B Notes: US$145.0 million Guaranteed Senior Notes at the rate of 5.22% maturing on 21 July 2017
Series C Notes: US$115.0 million Guaranteed Senior Notes at the rate of 5.78% maturing on 21 July 2020
Interest on the above Notes is paid semi-annually on the 21
st
day of January and July in each year. Carrying amount at 31 December 2016:
US$260.0 million (31 December 2015: US$260.0 million) equivalent to $361.1 million (31 December 2015: $356.1 million), of which US$145
million is due for repayment within twelve months from the reporting date.
CIMIC Finance (USA) Pty Limited (2012)
On 13 November 2012, CIMIC Finance (USA) Pty Limited, a wholly owned subsidiary of the Company, issued US$500.0 million of 10-Year
Fixed-Rate Guaranteed Senior Notes.
The notes bear interest from 13 November 2012 at the rate of 5.95% per annum and mature on 13 November 2022. Interest on the notes
will be paid semi-annually on the 13
th
day of May and November in each year. The Group repurchased US$298.7 million, equivalent to
$409.2 million, of Guaranteed Senior Notes on 24 June 2015. Carrying amount at 31 December 2016: US$201.3 million (31 December
2015: US$201.3 million) equivalent to $279.6 million (31 December 2015: $275.8 million).
Bilateral loans
At 31 December 2016, bilateral loan facilities outstanding were $115.0 million (31 December 2015: $nil).
Other unsecured loans
Other unsecured loans outstanding as at 31 December 2016: $11.6 million (31 December 2015: $20.1 million). Other unsecured loans
expected to be settled within twelve months after reporting date: $11.6 million (31 December 2015: $20.1 million).
h)
Finance lease liabilities
The Group has leased mining plant and equipment in Mongolia under finance leases that expire within one year of the reporting date.
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