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TNB Financial Report 2002
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24. Borrowings (Continued)
Group
Company
2002 2001 2002 2001
RM’million RM’million RM’million RM’million
Payable within one year included under
short term borrowings (Note 23) 1,250.1 1,860.5 1,036.2 1,801.7
Repayable after one year:
After one and up to two years 2,923.3 1,141.5 2,758.7 1,121.7
After two and up to five years 8,728.2 6,594.5 7,799.1 6,441.2
After five and up to ten years 7,442.3 11,945.6 6,065.4 9,500.8
After ten and up to twenty years 5,969.8 3,520.2 5,495.6 3,276.6
After twenty and up to thirty years 1,330.0 1,330.0 1,330.0 1,330.0
After ninety years 570.0 570.0 570.0 570.0
26,963.6 25,101.8 24,018.8 22,240.3
28,213.7 26,962.3 25,055.0 24,042.0
Group
2002 2001
RM’million RM’million
Net book values of property, plant and equipment pledged as security for term loans:
(i) Machinery and equipment 52.5 63.7
(ii) Building 5.9 7.6
58.4 71.3
Unsecured term loans include RM21.7 million (2001: RM22.7 million) due to the Government of Malaysia and RM2,601.6 million
(2001: RM2,726.3 million) guaranteed by the Government of Malaysia.
Interest rates applicable to the portfolio of term loans outstanding as at 31 August 2002 range from 0.1% to 10.3% (2001: 0.2% to 10.3%)
per annum and the effective weighted average interest rate is 5.35% (2001: 5.29%) per annum.
Details of borrowings with notable characteristics
10-year RM1,500.0 million Fixed Income Securities (‘FIS’)
The FIS consists of both redeemable bonds and Redeemable Preference Shares (‘RPS’). Details of the FIS are as follows:
• 1,500 interest bearing 10-year redeemable unsecured bonds (‘Bonds’) of an aggregate nominal value of RM999 million issued at 100% of
nominal value (in denominations of RM999,000 each), with detachable coupons representing interest on the Bonds. The Bonds are to be
redeemed at par in two tranches with redemption amounts of RM999 million and RM499.5 million on 16 August 2011 and 19 September
2011 respectively, and;
• 1,000 Class A RPS of RM1.00 each, issued at a premium of RM999.00 per share and 500 Class B RPS of RM1.00 each, issued at a
premium of RM999.00 per share. Both classes of RPS are redeemable at RM1,000 each at the Company’s option at any time on or after
16 August 2010 and 19 September 2010, for Class A and B RPS respectively. If the Class A and B RPS are not redeemed by 16 August 2011
and 19 September 2011 respectively, an additional sum of RM1.0 million on the first tranche and RM0.5 million on the second tranche shall
become due and payable under the final Bond Coupon payment for each of the tranches.