Page 103 - Bradken Annual Report 2013_Page flip

Basic HTML Version

BRADKEN LIMITED ANNUAL REPORT 2013 67
Notes to the consolidated financial statements
30 June 2013
(continued)
19 Borrowings (continued)
(d)
2013
2012
$'000
$'000
Non-current
First mortgage
Freehold land and buildings
-
8,261
Floating charge
Property plant & equipment
-
11,107
-
11,107
Total non-current assets pledged as security
-
19,368
Total assets pledged as security
-
19,368
(e)
2013
2012
$'000
$'000
Credit standby arrangements
Total facilities
Bank overdrafts
41,765
40,673
Standby letters of credit and bank guarantees
100,655
196,561
142,420
237,234
Used at balance date
Bank overdrafts
667
173
Standby letters of credit and bank guarantees
77,677
178,847
78,344
179,020
Unused at balance date
Bank overdrafts
41,098
40,500
Standby letters of credit and bank guarantees
22,978
17,714
64,076
58,214
Bank loan facilities
Total facilities
633,190
588,263
Used at balance date
297,446
348,460
Unused at balance date
335,744
239,803
US private placement notes
Total facilities
218,675
196,541
Used at balance date
218,675
196,541
Unused at balance date
-
-
(i)
(ii)
Assets pledged as security
Unrestricted access was available at balance date to the following lines of credit:
Working capital facilities comprise bank overdraft facilities and bank guarantee and letter of credit lines. Bank overdraft facilities
comprise a AUD 30,000,000 bilateral overdraft facility, a USD 10,000,000 overdraft facility, a GBP 500,000 multi option facility
and a NZD 100,000 overdraft facility.
Bank guarantees and letters of credit facilities comprise a AUD 82,000,000 multicurrency revolving bank guarantee facility, a
GBP 500,000 bank guarantee facility, a NZD 50,000 guarantees facility and a CNY 100,000,000 bank guarantee line.
Bank loan facilities comprise the following
US Private Placement Notes comprise a 7 year USD 50,000,000 tranche, 10 year USD 100,000,000 tranche and 12 year USD
50,000,000 tranche. Current weighted average interest rate is 4.64% (2012: 4.64%).
a syndicated loan with three and five year revolving bullet term loan facilities with a AUD 425,000,000 multi-currency
tranche, a USD 100,000,000 tranche and a GBP 20,000,000 tranche. Current interest rate is 4.21% (2012: 4.78%).
a USD 60 million revolving credit facility. Current interest rate is 4.90% (2012: 2.56%)
A Canadian dollar bank loan has been extinguished during the year and there are no assets pledged as security at balance date.
On 1 July 2013 the 3 year component of the syndicated facility agreement was reduced by $117.5m AUD and $10.0m USD
reflecting excess capacity over and above current debt requirements.
Financing arrangements
Page 67
Bradken Limited