Go to top of page

E2 Borrowings

NBN Co Group

30 June 2019

30 June 2018

$m

$m

Non-current

Loans from related parties

13,053

5,531

Total

13,053

5,531

As at 30 June 2019, $13.1 billion had been drawn down from the aforementioned $19.5 billion loan facility with the Commonwealth Government.

The loan agreement with the Commonwealth Government has a fixed interest rate of 3.96 per cent per annum, with interest payable monthly over the life of the facility. The full principal amount of the loan is to be repaid by 30 June 2024.

Recognition and measurement
All loans are initially recorded at fair value, which typically reflects the proceeds received, net of directly attributable transaction costs.

After initial recognition, all interest bearing loans are stated at amortised cost, using the effective interest method.