Finance Costs. All Finance Costs.
Finance Costs. All Finance Costs
Finance Costs. If Holder desires to satisfy its obligation to pay the amount due therefrom under clause (a)(ii) or (c)(ii) of this Section 3 by delivering the subject Note and Pledge Release, Holder shall provide written notice thereof to the Company not less than ten (10) Business Days prior to the Closing. If the Company thereafter notifies Holder in writing not less than five (5) Business Days prior to the Closing that such amount must be paid in cash pursuant to clause (a)(ii)(A)(i) or (c)(ii)(A)(i) of this Section 3, the Company shall reimburse to Holder at the Closing an amount equal to the cost actually and reasonably incurred by Holder to finance the payment of such amount in cash. Holder will attempt to advise the Company in advance of the amount of such finance costs.
Finance Costs. The following table summarizes information related to finance costs: Year ended December 31, 2020 2019 (US$ in millions) Percent change
Finance Costs. Finance Costs are all costs as defined in Article 1.39 of the Contract <PAGE> SECTION III COSTS, EXPENSES, AND EXPENDITURES AND CREDITS Except to the extent provided in Paragraph 3.17 of this Section the Contractor shall charge the Petroleum Operations Account for all Costs and Expenses incurred and necessary to conduct Petroleum Operations under this Contract as classified under the headings set forth in Section II of this Accounting Procedure. For the purposes of this Accounting Procedure Costs and Expenses referred to in Article 11.2 shall be deemed to be incurred on the Effective Date of this Contract. Costs and Expenses shall include, but not be limited to:
Finance Costs. Total finance costs was at USD21.74 million for the Reporting Period (2015: USD13.44 million). The increase was primarily due to a foreign exchange loss of USD11.22 million (2015: a gain of USD0.34 million) when USD bank borrowings are translated to RMB which is the functional currency of Spring REIT’s subsidiary, RCA01. Such foreign exchange loss was non-cash in nature and did not affect the TDI for the Reporting Period. With the completion of refinancing in April 2015, the Group’s new 5-year term loan carried a contractual interest rate of 3-month USD London Interbank Offered Rate (“USD LIBOR”) plus 2.75%, which was 75 basis points lower than that of the previous 3-year term loan. Primarily due to a lower effective interest rate, partly offset by a higher average USD LIBOR during the Reporting Period, the Group’s interest expense on bank borrowings amounted to USD10.52 million for the Reporting Period, 7.9% lower than the USD11.42 million in first half of 2015. Finance Costs For the six months ended 30 June 2016 2015 Interest expense on bank borrowings (US$ million) 10.52 11.42 Foreign exchange gains on bank borrowings (US$ million) 11.22 –0.34 Other incidental borrowing costs (US$ million) – 2.36 Total Finance costs (US$ million) 21.74 13.44 Interim Report 2016 Spring Real Estate Investment Trust 11 Management Discussion and Analysis (continued) Hedging Instruments On 17 December 2015, the Group entered into a currency option contract to hedge the risk of a substantial depreciation in RMB against USD. The currency option has a notional principal amount of USD480.00 million with a strike rate of USD1 to RMB7.5 for a period of 1 year. As at 30 June 2016, the fair value of this currency option was approximately USD2.26 million. A decrease in net fair value of USD4.86 million was recorded for the Reporting Period as a result of time value decrease. The tenure of this currency option may not exactly match that of the Group’s bank borrowings. As market conditions continue to evolve, the Manager will continue to closely monitor the currency as well as the interest rate markets and adopt strategies that, if necessary, reduce the currency and interest rate risks. Debt Positions In 2015, Spring REIT, through RCA01, drew down a five-year floating rate secured term loan facility of USD480.00 million (“2015 Term Loan Facility”) to early repay a previous term loan of USD465.00 million. The 2015 Term Loan Facility bears an interest margin of 2.75% per annum over 3-mon...
Finance Costs. The applicant has adopted finance costs at a rate of 3% to include all fees which again is below the usual range we would expect and it is assumed that this reflects the personal circumstances of the applicant. However, they are not considered to be overstated and so we have included the same within our appraisal. Development Programme: No live appraisal has been provided to us but within their written report the applicant has indicated the following timeframe: Build Period of 13 months Sale period of 12 months beginning upon practical completion (3.25 units per month) We consider this to be an appropriate timescale and have adopted the same within our appraisal. We have also included a 3 month pre- construction period in line with other similar schemes where a full planning application has been submitted.
Finance Costs. The following table summarizes information related to finance costs: Year ended December 31, 2021 2020 (US$ in millions) Percent Change Interest and other finance costs $ 387 $ 300 29.0 % Less: interest capitalized (14) (21) (33.3)% Finance costs, net $ 373 $ 279 33.7 % Finance costs, net of amounts capitalized, was US$373 million for the year ended December 31, 2021, compared to US$279 million for the year ended December 31, 2020. The increase in interest and other finance costs of US$87 million was primarily due to increase in our weighted average interest rate and weighted average total debt balance. The weighted average debt balance increased in connection with draws on the SCL revolver during the year ended December 31, 2021 and the issuance of the 2026 Notes and 2030 Notes in June 2020. Additionally, the weighted average interest rate increased from 4.6% to 5.1% during the year ended December 31, 2021 as a result of the expiration of interest rate swap in August 2020. Interest capitalization decreased by US$7 million due to a reduction in construction costs relating to The Londoner Macao project in 2021. The weighted average interest rates are calculated based on total interest expense (including amortization of deferred financing costs, standby fees and other financial costs and interest capitalized) and total weighted average borrowings.
Finance Costs. Finance Costs are all costs as defined in Article 1.39 of the Contract
Finance Costs. Recover from Lessee any losses, premiums, fees, costs or expense that are paid or incurred by Lessor in connection with the repayment of funds obtained to finance or otherwise acquire the Aircraft, or in unwinding any swap, forward interest rate agreement or other financial instrument to the extent relating in whole or in part to the financing of the Aircraft, or in connection with the borrowing of funds to refinance the Aircraft, if any.
