216
CapitaLand Limited
Annual Report 2015
Notes to the Financial Statements
35 Commitments
(continued)
(c) As at the balance sheet date, the notional principal values of financial instruments were as follows:
The Group
The Company
2015
$’000
2014
$’000
2015
$’000
2014
$’000
Interest rate swaps
3,086,083
3,695,249
–
–
Forward foreign exchange contracts
461,254
642,204
–
–
Cross currency swaps
974,799
668,152
–
–
4,522,136
5,005,605
–
–
The maturity profile of these financial instruments was:
The Group
The Company
2015
$’000
2014
$’000
2015
$’000
2014
$’000
Not later than 1 year
1,869,907
2,479,032
–
–
Between 1 and 5 years
1,992,530
1,893,749
–
–
After 5 years
659,699
632,824
–
–
4,522,136
5,005,605
–
–
36 Financial Guarantee Contracts
The Group accounts for its financial guarantees as insurance contracts. There are no terms and conditions attached to
the financial guarantee contracts that would have a material effect on the amount, timing and uncertainty of the Group’s
and the Company’s future cash flows. At balance sheet date, the Group and the Company do not consider that it
is probable that a claim will be made against the Group and the Company under the financial guarantee contracts.
Accordingly, the Group and the Company do not expect any net cash outflows resulting from the financial guarantee
contracts. The Group and the Company issue guarantees only for their subsidiaries and related parties.
The Group
The Company
2015
$’000
2014
$’000
2015
$’000
2014
$’000
(a) Guarantees given to banks to secure
banking facilities provided to:
- subsidiaries
–
–
2,606,607
2,202,021
- joint ventures
231,682
^
7,978
–
–
231,682
7,978
2,606,607
2,202,021
^
Includes an amount of $82.9 million, for which a back-to-back indemnity was given by the joint venture partner.
