Sasol Form 20-F for the year ended 30 June 2021 - Book - Page 103
values have been determined using current market
pricing models.
Refer to “Item 18—Financial Statements—Note 40
Financial risk management and financial instruments”
for a qualitative and quantitative discussion of the
group’s exposure to these market risks. Specific
recognition and measurement principles of the interest
rate swap are contained within the same reference. The
following is a breakdown of our debt arrangements and
a summary of fixed versus floating interest rate
exposures for operations. Liabilities reflect principal
payments in each year.
The principal market risks (i.e. the risk of
losses arising from adverse movements in market rates
and prices) to which we are exposed are:
foreign exchange rates applicable on
conversion of foreign currency
transactions as well as on conversion of
assets and liabilities to rand;
commodity prices, mainly crude oil
prices; and
Liabilities—notional
Fixed rate (Rand) . . . . . . . . . . . . .
Average interest rate . . . . . . . . . .
Variable rate (Rand) . . . . . . . . . .
Average interest rate . . . . . . . . . .
Fixed Rate (US$) . . . . . . . . . . . . .
Average interest rate . . . . . . . . . .
Variable rate (US$) . . . . . . . . . . .
Average interest rate . . . . . . . . . .
Fixed rate (Euro) . . . . . . . . . . . . .
Average interest rate . . . . . . . . . .
Fixed rate (Other currencies) . . .
Average interest rate . . . . . . . . . .
Variable rate (Other currencies) .
Average interest rate . . . . . . . . . .
Total. . . . . . . . . . . . . . . . . . . . . . .
2022
interest rates on debt and cash deposits.
2023
2024
2025
2026
Thereafter
(Rand in millions)
—
—
—
—
—
8,00 %
8,00 %
8,00 % 8,00 % 8,00 %
189
2 242
66
66
100
5,07 %
5,03 %
5,24 % 5,24 % 5,24 %
—
—
56
14 275
21 413
5,41 %
5,52 %
5,60 % 5,51 % 5,51 %
—
4 382
2 355
18 129
5 710
2,04 %
2,02 %
1,97 % 1,82 % 0,00 %
246
80
60
40
34
1,07 %
1,55 %
1,76 % 1,90 % 1,82 %
0,00 %
0,00 %
0,00 % 0,00 % 0,00 %
0,00 %
0,00 %
0,00 % 0,00 % 0,00 %
4 873
18 952
39 668
5 816
134
2022
Interest rate swap—designated
as a hedging instrument
(instrument 1)*
Average notional amount . . . . . . . . . .
Average receive rate . . . . . . . . . . . . . .
Average pay rate . . . . . . . . . . . . . . . . .
Notional at 30 June . . . . . . . . . . . . . . .
Interest rate swap—designated
as a hedging instrument
(instrument 2)*
Average notional amount . . . . . . . . . .
Average receive rate . . . . . . . . . . . . . .
Average pay rate . . . . . . . . . . . . . . . . .
Notional at 30 June . . . . . . . . . . . . . . .
2023
2024
2025
(Rand in millions)
588
588
8,00 %
—
2 663
5,24 %
32 119
67 863
5,51 %
—
30 576
0,00 %
1
461
0,00 %
—
0,00 %
—
0,00 %
32 708
102 151
2026
24 619
23 238
21 837
20 347
18 810
0,17 %
0,45 %
1,04 %
1,42 %
1,65 %
2,82 %
2,82 %
2,82 %
2,82 %
2,82 %
24 237
22 900
21 477
19 963
18 419
1 278
0,44 %
5,87 %
1 212
1 124
1,03 %
5,87 %
1 061
102
972
2,20 %
5,87 %
909
821
3,12 %
5,87 %
758
Total
669
3,58 %
5,87 %
606
Thereafter
Fair
value
588
2 655
72 258
30 843
459
—
—
106 803
Fair
value
17 660
(2 103)
1,79 %
2,82 %
17 660
332
4,04 %
5,87 %
332
(5)