ASCENDAS india trust ANNUAL REPORT 2014/15
N O T E S T O T H E F I N A N C I A L S T A T E M E N T S
For the financial year ended 31 March 2015
23.
Borrowings (continued)
Security granted
As at 31 March 2015, the SGD term loan is secured by a pledge over the total issued share capital of Ascendas Property
Fund (India) Pte. Ltd. and a negative pledge over the shares of the subsidiaries.
Interest rate risks
The weighted average effective interest rates of total borrowings at the balance sheet date were as follows
Group and Trust
2015
2014
Secured SGD bank loans
3.16% 3.09%
Unsecured SGD bank loans
2.33% 1.98%
Unsecured SGD notes
– 5 year notes
3.70% 3.50%
– 6 year notes
3.80% 3.80%
Undrawn borrowing facility
The Trustee-Manager monitors the cash flow position and the working capital of the Group to ensure that there are adequate
liquid reserves in terms of cash and credit facilities to meet short-term obligations. Steps have been taken to plan early for
funding and expense requirements so as to manage cash position at any point in time. As at 31 March 2015, the Trust has
undrawn committed loan facilities of $109,000,000 (2014: $15,000,000) towards the financing of:
(a)
the general working capital requirements of the Group; and
(b)
the repayment of outstanding bank loans.
These committed loan facilities are intended to refinance loans of $90,000,000 which are due within the next 12 months.
In April 2015, the Group has drawn down $25,000,000 of the committed loan facilities to repay an outstanding bank loan.
