Annual Report 2019

ANNUAL REPORT 2019 235 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 March 2019 35. NOTES AND BONDS 2023 2021 2018 Notes Notes Bonds Total HK$’000 HK$’000 HK$’000 HK$’000 At 1 April 2017 – 2,310,890 819,652 3,130,542 Issue of new notes 1,168,313 – – 1,168,313 Less: transaction costs directly attributable to issue (11,930) – – (11,930) Interest charged during the year 21,210 91,586 54,236 167,032 Interest paid during the year – (81,848) (52,783) (134,631) Interest payable due within 12 months and included in other payable (20,381) (5,865) – (26,246) Exchange adjustments 6,125 20,858 86,890 113,873 At 31 March 2018 1,163,337 2,335,621 907,995 4,406,953 Redemption upon maturity – – (907,995) (907,995) Interest charged during the year 54,783 92,235 – 147,018 Interest paid during the year (11,496) (76,849) – (88,345) Interest payable due within 12 months and included in other payable (41,107) (11,502) – (52,609) Exchange adjustments 1,489 2,988 – 4,477 At 31 March 2019 1,167,006 2,342,493 – 3,509,499 2023 Notes On 6 November 2017, the Company issued notes with aggregate principal amount of US$150,000,000 with maturity date on 13 May 2023 (the “2023 Notes”) to independent third party. The 2023 Notes bear interest at 4.5% per annum payable semi-annually. As at 31 March 2019, the aggregate principal amount of the 2023 Notes outstanding was US$150,000,000 (equivalent to HK$1,176,000,000) (2018: US$150,000,000 (equivalent to HK$1,174,500,000)). 2021 Notes On 8 September 2016, the Company issued notes with aggregate principal amount of US$300,000,000 with maturity date on 8 September 2021 (the “2021 Notes”) to independent third party. The 2021 Notes bear interest at 3.75% per annum payable semi-annually. As at 31 March 2019, the aggregate principal amount of the 2021 Notes outstanding was US$300,000,000 (equivalent to HK$2,352,000,000) (2018: US$300,000,000 (equivalent to HK$2,349,000,000)).