Petra Diamonds Limited
Annual Report and Accounts 2013
124
25. Financial instruments
continued
Liquidity risk
continued
Maturity analysis
continued
30 June 2012
US$ million
Notes
Interest
rate
Total
6 months
or less
6–12
months
1–2
years
2–5
years
Cash
Cash and cash equivalents – unrestricted
19 0.1%–4.5% 31.3 31.3
— — —
Cash – restricted
19 0.1%–4.5% 16.0
— — — 16.0
Total cash
47.3 31.3
— — 16.0
Loans and borrowings
Bank loan – secured
21(iii) 10.1% 40.0
5.7
5.5 10.4 18.4
Bank loan – secured
21(iv)
5.2% 40.3
5.4
5.3 10.3 19.3
Other loans1
21 9.5% — — — — —
Cashflow of loans and borrowings
80.3 11.1 10.8 20.7 37.7
1. The loans have been reclassified to non-current trade and other payables as this is considered a more appropriate classification. The loans bear interest at the prevailing South African
prime interest rate and are repayable from future cashflows from the underlying operations only when the loans advanced to BEE partners (refer to note 18) have been repaid
in full to the Group.
Interest rate risk
The Group has borrowings that incur interest at floating rates and no interest rate swaps are used. Management constantly monitors
the floating interest rates so that action can be taken should it be considered necessary. An analysis of the sensitivity to interest
rate changes is presented below. The table below reflects the impact of a 100% basis points change in interest rates over the next
12 months and is shown for illustrative purposes.
The effect of an interest rate increase/(decrease) on the Group in the year is as follows:
30 June 2013
US$ million
Notes
Year-end
interest
rate
Year-end
interest-
bearing
liability
Interest
rate
increases
1%
Interest
rate
(decreases)
1%
Bank loan – secured
21(i)
5.7%
25.0
0.2
(0.2)
Bank loan – secured
21(ii)
8.0%
28.8
0.3
(0.3)
Bank loan – secured
21(iii)
9.1%
58.1
0.6
(0.6)
Bank loan – secured
21(iv)
4.3%
35.1
0.3
(0.3)
147.0
1.4
(1.4)
30 June 2012
US$ million
Notes
Year-end
interest
rate
Year-end
interest-
bearing
liability
Interest
rate
increases
1%
Interest
rate
(decreases)
1%
Bank loan – secured
21(iii)
10.1%
31.2
0.3
(0.3)
Bank loan – secured
21(iv)
5.2%
34.2
0.3
(0.3)
Other loans1
21
9.5%
65.4
0.6
(0.6)
1. The loans have been reclassified to non-current trade and other payables as this is considered a more appropriate classification. The loans bear interest at the prevailing South African
prime interest rate and are repayable from future cashflows from the underlying operations only when the loans advanced to BEE partners (refer to note 18) have been repaid
in full to the Group.
Notes to the Annual Financial Statements
For the year ended 30 June 2013 continued
1...,116,117,118,119,120,121,122,123,124,125 127,128,129,130,131,132,133,134,135,136,...142