NOTES TO THE FINANCIAL STATEMENTS
(CONT’D)
31 DECEMBER 2015
22.
OTHER FINANCIAL LIABILITIES (CONT’D)
22B.
Medium term notes (unsecured)
On 25 June 2012, a wholly-owned subsidiary, LMIRT Capital Pte Ltd (“LMIRT Capital”) established a $750,000,000
Guaranteed Euro Medium Term Note Programme (“EMTN”). Under the EMTN, LMIRT Capital may, subject to
compliance with all relevant laws, regulations and directives, from time to time issue notes in series or tranches.
Each series or tranches of notes may be issued in various currencies and tenor, and may bear fixed, floating or
variable rates of interest. Zero coupon notes, Dual currency notes, or Index Linked notes may also be issued
under the Programme. All sum payable in respect of the notes will be unconditionally and irrevocably guaranteed
by the Trustee.
On 9 September 2015, LMIRT Capital and the Trustee established another $1,000,000,000 Guaranteed Euro
Medium Term Securities Programme (“EMTS”) (together with EMTN, “Programmes”). Under EMTS,
(i)
Each of LMIRT Capital and the Trustee may from time to time issue Medium TermNotes (“Notes”) which,
in the case of Notes issued by LMIRT Capital, will be unconditionally and irrevocably guaranteed by the
Trustee, and
(ii)
The Trustee may from time to time issue perpetual securities.
The total facility drawn down by the Group as at 31 December 2015 under the Programmes is $450,000,000
(2014: $475,000,000), consisting of:
(i)
$50,000,000 5.875% notes due 2017. The $50,000,000 notes were issued on 6 July 2012, will mature
on 6 July 2017, and bear a fixed interest rate of 5.875% per annum payable semi-annually in arrears;
(ii)
$75,000,000 4.48% notes due 2017. The $75,000,000 notes were issued on 28 November 2012, will
mature on 28 November 2017, and bear a fixed interest rate of 4.48% per annumpayable semi-annually
in arrears;
(iii)
$150,000,000 4.25% notes due 2016. The $150,000,000 notes were issued on 4 October 2013, will
mature on 4 October 2016, and bear a fixed rate of 4.25% per annum payable semi-annually in arrears;
(iv)
$75,000,000 4.10% notes due 2020. The $75,000,000 notes were issued on 22 June 2015, will mature
on 22 June 2020, and bear a fixed rate of 4.10% per annum payable semi-annually in arrears; and
(v)
$100,000,000 4.50% notes due 2018. The $100,000,000 notes were issued on 23 November 2015,
will mature on 23 November 2018, and bear a fixed rate of 4.50% per annum payable semi-annually
in arrears.
The $200,000,000 4.88% notes payable semi-annually in arrears were issued on 6 July 2012 and were fully repaid
upon maturity on 6 July 2015 (Note 22A).
The fair value of the fixed rate notes (Level 1) is $444,927,000 (2014: $479,999,000).
The notes are listed on the Singapore Exchange Securities Trading Limited.
ANNUAL REPORT 2015
117
