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Financial risk management (Tables)

6 Months Ended

Dec. 31, 2019

Financial risk management

Schedule of net borrowings being hedged at balance sheet date


		31 December		30 June		31 December
		2019		2019		2018
		$’000		$’000		$’000
USD borrowings		650,000		650,000		650,000
Hedged USD cash		(58,892)		(308,838)		(210,400)
Net USD debt		591,108		341,162		439,600
Hedged future USD revenues		(199,137)		(211,153)		(338,046)
Unhedged USD borrowings		391,971		130,009		101,554
Closing USD exchange rate ($: £)		1.3200		1.2718		1.2790

Schedule of interest rate swaps at reporting date that are used to hedge borrowings


		31 December		30 June		31 December
		2019		2019		2018
Principal value of loan outstanding ($’000)		150,000		150,000		150,000
Rate received		1 month $ LIBOR		1 month $ LIBOR		1 month $ LIBOR
Rate paid		Fixed 2.032	%	Fixed 2.032	%	Fixed 2.032	%
Expiry date		30 June 2024		30 June 2024		30 June 2024