e r 2 - Umgeni Water

Chapter| Debt Management and Funding Requirements16.1.5 Analysis of Funding Against Approved Borrowing LimitsIn preparing the funding strategy, cognisance was taken of the level of gross debt against the unconditionalborrowing limit set by the Department of Water Affairs and National Treasury which is based on R 1,800 million forF’11. A 3 year application for 2012 to 2014 borrowing limits has been made to DWA and National Treasury asfollows:• F’12 – R2 000m• F’13 – R2 000m• F’14 – R2 000mFigure 16.3: Analysis of funding against approved borrowing limits4 500 000Debt curve - Funding against limits4 000 0003 500 0003 000 0002 500 0002 000 000Redemption Portfolio*Gross DebtNet DebtFunding RequirementsBorrowing Limit1 500 0001 000 000500 000-'08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 '26 '27 '28 '29 '30 '31 '32Table 16.7: Gross Borrowings (R’m)Borrowing Limit F11 F12 F13 F14 F15 F16Gross Borrowings 1 400 1 353 1 488 1 394 1 262 1 124At PeakContingencies 200 300 300 300 300 300TOTAL GROSS BORROWINGS 1 600 1 653 1 788 1 694 1 562 1 424Approved borrowing Limit 1 800(Over) Under utilisation 200 1 653 1 788 1 694 1 562 1 424Page 128 Umgeni Water Five-Year Business Plan | 2011/2012 to 2015/2016