| |
The cash flow hedge transaction arose in 2021. TPC entered into a ZAR denominated floating rate debt instrument
and was exposed to variability in interest payments as a result of interest rate fluctuations. To hedge this interest
rate risk, TPC took out a pay-fixed, receive-floating interest rate swap instrument. The type of hedging relationship is
a cash flow hedge. The interest-rate swap instrument matured on 9 October 2023. The company does not have any
interest-rate swap agreements in place as at 31 May 2024.
| |
|
Interest rate swap |
| |
|
2024
R’000 |
|
2023
R’000 |
| Opening balance |
|
12 914 |
|
20 224 |
| Change in value of the hedging instrument recognised in other comprehensive income |
|
(9) |
|
8 693 |
| Interest settlements |
|
(12 905) |
|
(16 003) |
| Closing balance |
|
— |
|
12 914 |
|
|
|
|
|
| Amounts included in non-current portion of financial assets at fair value
through other comprehensive income |
|
— |
|
— |
| Amounts included in current portion of financial assets at fair value through
other comprehensive income |
|
— |
|
12 914 |
|
|
|
|
|
|
