New World Development Company Limited
40
Managemen t D i s cu s s i on and Ana l y s i s
During the year, a wholly owned subsidiary of the Group issued US$950.0 million notes (equivalent to approximately
HK$7,381.5 million) and HK$1,322.0 million bonds at fixed rates ranging from 4.375% to 4.700% due ranged from 2022 to
2026.
During the year, the Group had utilised approximately HK$21.0 billion on the privatisation of NWCL.
During the year, the Group had subscribed 9% perpetual securities in the aggregate principal amount of US$900 million
(equivalent to approximately HK$6,993.0 million).
As at 30 June 2016, the Group’s cash and bank balances (including restricted bank balances) stood at HK$55,170.8 million
(2015: HK$59,465.2 million) and the consolidated net debt amounted to HK$77,048.8 million (2015: HK$53,539.1 million). The
net debt to equity ratio was 38.4%, an increase of 14.3 percentage points as compared with FY2015.
As at 30 June 2016, the Group’s long-term bank loans, other loans and fixed rate bonds amounted to HK$130,701.4 million.
Short-term bank and other loans as at 30 June 2016 were HK$1,518.2 million. The maturity of bank loans, other loans, and
fixed rate bonds as at 30 June 2016 was as follows:
HK$m
Within one year
18,346.3
In the second year
14,449.3
In the third to fifth year
81,625.4
After the fifth year
17,798.6
132,219.6
As at 30 June 2016, the Group’s assets of HK$71,775.7 million and certain shares of subsidiaries of the Group were pledged
as securities for certain banking facilities of the Group. Non-controlling interests of the Group as at 30 June 2016 decreased
by HK$22,117.5 million as compared to 30 June 2015 mainly due to further acquisition of additional interests in NWCL. As a
result, the equity of the Group stood at HK$200,895.3 million as at 30 June 2016.
Currency Profile of Borrowings
Nature of Debts
HKD
RMB
USD & Others
Unsecured
Secured
62%
81%
59%
79%
15%
19%
23%
19%
FY2016
FY2016
FY2015
FY2015
22%
21%
