SAPPI LIMITED

SAPPI
NOTES TO THE GROUP ANNUAL FINANCIAL STATEMENTS (Continued)
for the year ended September 2010
29. FINANCIAL INSTRUMENTS (Continued)
Total financial Fair value
Undiscounted cash flows
assets and of financial 0–6 6–12 1–2 2–5 > 5
liabilities instruments months months years years years Total
(US$ million)
2009
Financial assets
Other non-current assets .......... 43 43 13 1 8 7 15 44
Non-current derivative financial assets . . 10 10 10 — — — — 10
Receive leg ................... 130 — — — — 130
Pay leg ..................... (120) — — — — (120)
Trade and other receivables ........ 734 734 734 — — — — 734
Current derivative financial assets ..... 10 10 11 — — — — 11
Receive leg ................... 262 — — — — 262
Pay leg ..................... (251) — — — — (251)
Cash and cash equivalents ......... 770 770 770 — — — — 770
1,538 1 8 7 15 1,569
Financial liabilities
Interest-bearing borrowings ......... 2,726 3,021 97 100 494 2,716 123 3,530
Non-current derivative financial liabilities . 24 24 1 1 2 17 1 22
Pay leg ..................... 19 19 38 425 1 502
Receive leg ................... (18) (18) (36) (408) — (480)
Interest-bearing borrowings ......... 601 602 549 106 — — — 655
Overdraft .................... 19 19 19 — — — — 19
Current derivative financial liabilities . . . 14 14 14 — — — — 14
Pay leg ..................... 620 — — — — 620
Receive leg ................... (606) — — — — (606)
Trade and other payables .......... 860 860 818 — — — — 818
1,498 207 496 2,733 124 5,058
Liquidity gap .................. 40 (206) (488) (2,726) (109) (3,489)
F-100