Annual Report - Campus Living Villages

Campus Living Villages Annual Report 09/10 7 5
Campus Living Australia Trust
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2010
A$’000
b) Borrowings are classified as secured and unsecured as follows:
June 2010 June 2009
Secured borrowings
Loans from financial institutions 261,731 198,569
Lease liabilities 20,819 21,110
Total current borrowings 282,550 219,679
CLAT
Unsecured borrowings
Loans from related parties 141,523 126,092
c) Assets pledged as security
The loans from financial institutions have been financed with limited recourse debt. The package of securities that is normally
provided is as follows:
> > A first ranking all assets fixed and floating charge granted by the Borrower in favour of the financial institution;
> > A first ranking mortgage of the Lease from the university of the Borrower;
> > A first ranking share mortgage granted by the Parent of the Borrower in relation to all shares held by the Parent in
the Borrower.
Assets pledged as security June 2010 June 2009
Current assets
Cash and cash equivalents 27,214 16,876
Trade and other receivables 675 210
Inventory 18 -
Other current assets 343 412
28,250 17,498
Non-current assets
Derivative financial instruments 56 -
Property, plant and equipment 385,172 329,212
Management contracts 5,031 5,221
Total assets 418,509 351,931
17. Issued capital
June 2010 June 2009
Opening balance 22,199 20,146
Issue of capital for the year 2,202 2,181
Equity raising costs (1) (128)
Balance at the end of the year 24,400 22,199
The stapled entity has 413,458,590 (2009: 308,746,325) units on issue.