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This excerpt taken from the ELN 6-K filed Mar 30, 2009. Interest
Rate Risk on Debt
Our debt is at fixed rates, except for the $300.0 million
of Floating Rate Notes due 2011 and $150.0 million of
Floating Rate Notes due 2013 issued in November 2004 and
November 2006, respectively. Interest rate changes affect the
amount of interest on our variable rate debt.
Table of Contents
The table below summarises the maturities and market risks
associated with our variable rate debt outstanding at
31 December 2008 (in millions):
If market rates of interest on our variable rate debt increased
by 10%, then the increase in interest expense on the variable
rate debt would be $1.4 million annually. As at
31 December 2008, the fair value of our debt was
$962.8 million. See Notes 20 and 25 to the
Consolidated Financial Statements for additional information on
our debt.
This excerpt taken from the ELN 20-F filed Feb 26, 2009. Interest
Rate Risk on Debt
Our debt is at fixed rates, except for the $300.0 million
of Floating Rate Notes due 2011 and $150.0 million of
Floating Rate Notes due 2013 issued in November 2004 and
November 2006, respectively. Interest rate changes affect the
amount of interest on our variable rate debt.
Table of Contents
The table below summarizes the market risks associated with our
fixed and variable rate debt outstanding at December 31,
2008 (in millions):
If market rates of interest on our variable rate debt increased
by 10%, then the increase in interest expense on the variable
rate debt would be $1.4 million annually. As of
December 31, 2008, the fair value of our debt was
$962.8 million. For additional information on the fair
values of debt instruments, refer to Note 19 to the
Consolidated Financial Statements.
This excerpt taken from the ELN 20-F filed Feb 28, 2008. Interest
Rate Risk on Debt
Our debt is primarily at fixed rates, except for the
$300.0 million of Floating Rate Notes due 2011 and
$150.0 million of Floating Rate Notes due 2013 issued in
November 2004 and November 2006, respectively. Interest rate
changes affect the amount of interest on our variable rate debt.
The table below summarizes the market risks associated with our
fixed and variable rate debt outstanding at December 31,
2007 (in millions):
Table of Contents
If market rates of interest on our variable rate debt increased
by 10%, then the increase in interest expense on the variable
rate debt would be $4.1 million annually. As of
December 31, 2007, the fair value of our debt was
$1,680.6 million. For additional information on the fair
values of debt instruments, refer to Note 19 to the
Consolidated Financial Statements.
This excerpt taken from the ELN 6-K filed Mar 31, 2006. Interest Rate Risk on Debt
Our long-term debt is primarily at fixed rates, except for the
$300.0 million of Floating Rate Notes issued in November
2004 and interest rate swaps entered into to convert
$300.0 million of our fixed rate interest obligations
related to the Athena Notes to variable rate interest
obligations. Interest rate changes affect the amount of interest
on our variable rate debt.
The table below summarises the market risks associated with our
fixed and variable rate long-term and convertible debt
outstanding at 31 December 2005:
If market rates of interest on our variable rate debt,
including the effect of the $300.0 million interest rate
swaps, increased by 10%, then the increase in interest expense
on the variable rate debt would be $4.8 million annually.
As at 31 December 2005, the fair value of our total debt
and convertible debt was $2,174.7 million. See
Notes 21 and 26 to the Consolidated Financial Statements
for additional information on the debt and convertible debt.
We held three interest rate derivatives associated with our
fixed-rate, long-term debt outstanding at 31 December 2005:
This excerpt taken from the ELN 6-K filed Apr 11, 2005. Interest Rate Risk on Debt Our liquid funds are invested primarily in U.S. dollars except for the working capital balances of subsidiaries operating outside of the United States. Interest rate changes affect the returns on our investment funds. Our exposure to interest rate risk on liquid funds is actively monitored and managed with an average duration of less than three months. By calculating an overall exposure to interest rate risk rather than a series of individual instrument cash flow exposures, we can more readily monitor and hedge these risks. Duration analysis recognises the time value of money and in particular, prevailing interest rates by discounting future cash flows. For additional information regarding interest rate risk, please refer to Note 21 to the Consolidated Financial Statements. | EXCERPTS ON THIS PAGE:
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