Page 54 - 2012_Annual Report

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Saskatchewan Indian Gaming Authority Inc.
Notes to the Financial Statements
year ended March 31, 2012
52
11. LONG-TERM DEBT (CONTINUED)
CASINO PROJECTS FINANCING (CONTINUED)
The long-term debt obligations are as follows:
March 31,
March 31,
April 1,
2012
2011
2010
Construction Facility Tranche B
repayable in monthly instalments of $117,762 plus interest
at bankers acceptance rate plus 1%, maturity August 2024.
$ 17,664,392
$ 19,077,536
$ 20,419,511
Construction Facility Tranche C
repayable in monthly instalments of $88,889 plus interest
at bankers acceptance rate plus 1%, maturity August 2024.
13,333,330
14,399,998
15,537,835
Term Loan Tranche D – Fixed Rate
repayable in monthly instalments of $165,355 including
interest at 5.68%, maturity April 2023.
16,294,190
17,296,962
18,242,183
Term Loan Tranche D – Floating Rate
repayable in monthly instalments of $116,667 plus interest
at bankers acceptance rate plus 1%, maturity April 2023.
15,516,667
16,916,667
18,316,667
Term Loan Tranche A – Fixed Rate
repayable in monthly instalments of $4,460 plus interest
at 2.50%, maturity March 2019.
475,344
528,859
582,376
63,283,923
68,220,022
73,098,572
Less current portion
(5,452,622)
(4,970,718)
(5,497,985)
$ 57,831,301
$ 63,249,304
$ 67,600,587
Principal repayments required for the above loans, based on maturity dates, are as follows:
2013
$ 5,452,622
2014
46,631,307
2015
11,199,994
Assuming these facilities are able to be renegotiated at similar terms, the principal payments required would be as follows:
2013
$ 5,030,791
2014
5,098,480
2015
5,170,344
2016
5,246,641
2017
5,327,643
2018 and subsequent
37,410,024
Due to the uncertainty surrounding the terms that would currently be available for debt of similar terms and maturities, fair value
information has not been disclosed as fair value cannot be reliably measured.