BRADKEN LIMITED ANNUAL REPORT 2014 l 72
Notes to the consolidated financial statements
30 June 2014
(continued)
20 Borrowings (continued)
(d)
2014
2013
$'000
$'000
Credit standby arrangements
Total facilities
Bank overdrafts
41,608
41,765
Standby letters of credit and bank guarantees
118,053
100,655
159,661
142,420
Used at balance date
Bank overdrafts
-
667
Standby letters of credit and bank guarantees
57,596
77,677
57,596
78,344
Unused at balance date
Bank overdrafts
41,608
41,098
Standby letters of credit and bank guarantees
60,457
22,978
102,065
64,076
Bank loan facilities
Total facilities
565,226
633,190
Used at balance date
301,310
297,446
Unused at balance date
263,916
335,744
US private placement notes
Total facilities
212,157
218,675
Used at balance date
212,157
218,675
Unused at balance date
-
-
(i)
(ii)
(iii)
On 31 March 2014 the previous three year syndicaled loan facility was replaced with a new three year syndicated loan facility
with the existing syndicate.
a GBP 20 million loan with a three year revolving bullet term facility. Current interest rate is 2.02% (2013: n/a).
Financing arrangements
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 100,000,000 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.
Subsequent to year end the Company replaced the five year syndicated facility with a four and five year facility.
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% (2013: 4.64%).
a syndicated loan with three and five year revolving bullet term loan facilities with a AUD 359,200,000 multi-currency
tranche and a USD 100,000,000 tranche. Current interest rate is 3.84% (2013: 4.21%).
a USD 60 million revolving credit facility. Current interest rate is 4.43% (2013: 4.90%)
Page 72
Bradken Limited
NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS
(CONTINUED)
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