Page 50 - GMT and GMT Bond Issuer Annual Report 2017 v2

NOTES TO THE
5. DERIVATIVEFINANCIALINSTRUMENTS(CONTINUED) 5.3 Additional derivative information
FINANCIAL
Cross currency interest rate derivatives
Notional contract value as receiver ($ million)
Percentage of US Private Placement notes borrowings converted to floating rate NZD payments Weighted average term to maturity (years)
2017 2016
156.8 156.8 100% 100% 10.5 11.5
520.0 555.8 195.0 195.0 74% 68% 2.7% - 5.0% 2.5% - 7.6%
STATEMENTS
Interest rate derivatives
Notional contract value as payer ($ million) Notional contract value as receiver ($ million) Percentage of borrowings fixed
Interest rate range
continued
For the year ended 31 March 2017
Weighted average term to maturity (years) 5.0
6. ADMINISTRATIVEEXPENSES
Administrative expenses are incurred to manage the operational activity of GMT. Excluded from administrative expenses categorised within operating earnings are the Manager’s base fee, which is expected to be used to reinvest in GMT units when payment of the fee occurs.
6.1 Administrative expenses incurred to derive operating earnings
$ million 2017
Valuation fees (0.6) Auditor’s fees (0.2) Trustee fees (0.3) Other costs (1.8)
Total administrative expenses incurred to derive operating earnings (2.9)
6.2 Auditor’s fees
Auditor’s fees detailed below are in whole dollars.
$ 2017
4.4
2016
(0.3) (0.2) (0.3) (1.8)
(2.6)
2016
(227,950) (14,500) (5,000)
(247,450)
Audit and review of financial statements Other assurance related services
Other services
Total auditor’s fees
(231,800) (15,000) -
(246,800)
Other assurance related services
Other services
48 NOTES TO THE FINANCIAL STATEMENTS
Other assurance related services comprise work performed at unit holder meetings, on the nancial covenants of the bank facilities, on the performance fee calculation, audit of the unit registry and reporting under the GMT Bond Issuer Limited Trust Deed.
Other services comprise accounting advice, data analysis and advisory services.
GOODMAN PROPERTY TRUST ANNUAL REPORT 2017 FINANCIAL STATEMENTS