Telstra 2009 Annual Report Download - page 161

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Telstra Corporation Limited and controlled entities
146
Notes to the Financial Statements (continued)
(a) Risk and mitigation (continued)
(i) Interest rate risk (continued)
The weighted average interest rates on our fixed and floating rate
financial instruments as at 30 June which do not have offsetting risk
positions and the principal/notional amounts on which interest is
calculated are shown in Table A below. Interest rate positions on our
foreign cross currency and foreign interest rate swaps and on the
majority of our foreign borrowings are fully offset.
Accordingly, the majority of our instruments represent Australian
dollar interest positions.
Principal/notional amounts shown are net of discounts and as such
differ from the face value disclosed in note 17 (Tables C, D and F).
18. Financial risk management (continued)
TABLE A Telstra Group Telstra Entity
As at 30 June 2009 As at 30 June 2008 As at 30 June 2009 As at 30 June 2008
Principal /
notional
receivable
/ (payable)
$m
Weighted
average
% (*)
Principal /
notional
receivable
/ (payable)
$m
Weighted
average
% (*)
Principal /
notional
receivable
/ (payable)
$m
Weighted
average
% (*)
Principal /
notional
receivable
/ (payable)
$m
Weighted
average
% (*)
Fixed rate instruments - Australian interest rate
Cross currency & interest rate swap payable. . . . (6,020) 6.31 (5,672) 6.34 (6,020) 6.31 (5,672) 6.34
Finance lease payable . . . . . . . . . . . . . . . . . (70) 5.89 (81) 7.93 (70) 5.89 (81) 7.93
Telstra bonds and domestic loans . . . . . . . . . . (1,727) 7.16 (2,222) 7.21 (1,727) 7.16 (2,222) 7.21
Fixed rate instruments - Foreign interest rates
Bank deposits with maturity greater than 90 days 16 2.10 20 4.14 - - --
Finance lease payable . . . . . . . . . . . . . . . . . (25) 12.19 (26) 11.44 - - --
Offshore loans (#) . . . . . . . . . . . . . . . . . . . . (202) 7.38 (158) 7.11 (202) 7.38 (158) 7.11
(8,028) (8,139) (8,019) (8,133)
Variable rate instruments - Australian interest rates
Contractual repricing or maturity 6 months or less
Cash and cash equivalents (^) . . . . . . . . . . . . 964 3.23 527 7.40 947 3.23 482 7.40
Cross currency swap receivable (#) . . . . . . . . . 680 3.14 640 7.69 680 3.14 640 7.69
Cross currency swap payable . . . . . . . . . . . . . (6,147) 4.33 (5,570) 8.95 (6,147) 4.33 (5,570) 8.95
Telstra bonds and domestic loans . . . . . . . . . . (2,280) 4.01 (1,499) 7.45 (2,280) 4.01 (1,499) 7.45
Loans from wholly owned controlled entities . . . - - -- (8) 3.00 (8) 7.25
Promissory notes . . . . . . . . . . . . . . . . . . . . - - (203) 7.85 - - (203) 7.85
Offshore loans . . . . . . . . . . . . . . . . . . . . . . (269) 5.03 --(269) 5.03 --
Contractual repricing or maturity within 0 to 12 months
Forward contract liability - net . . . . . . . . . . . . (109) 1.63 (979) 3.96 (109) 1.63 (979) 3.96
Telstra bonds and domestic loans . . . . . . . . . . (500) 7.39 --(500) 7.39 --
Variable rate instruments - Foreign interest rates
Contractual repricing or maturity 6 months or less
Cash and cash equivalents (^) . . . . . . . . . . . . 333 0.55 312 1.27 - - --
Cross currency swap payable (#) . . . . . . . . . . . (668) 0.26 (559) 1.80 (668) 0.26 (559) 1.80
Loans from wholly owned controlled entities . . . - - --(222) 2.35 (176) 7.92
Promissory notes (#). . . . . . . . . . . . . . . . . . . (284) 3.45 (320) 9.22 (284) 3.45 (320) 9.22
(8,280) (7,651) (8,860) (8,192)
Net interest bearing debt . . . . . . . . . . . . . . . (16,308) (15,790) (16,879) (16,325)