EFTA01366844.pdf

Amendment #4 Page 415 of 868 The Operating Entbes interest rate swaps are cLassied as Level 2 since all eugnificant inputs are observable for similar instruments The lair value is deternsned based on observable market prices for merest rates The far value a interest rate swaps at the end of the reporbng period is determined ty chscountrg the future cash flews wing ere curves at the end of the reporting paned arid the amet risk nherert in the contract. There were no transfers between Level 1. Level 2 and Level 3 finanoal irstrumerts dung the year ended Decanter 31. 2014 and fa the thee monthsended March 31. 2015 and 2014 The Operatng Entries maintan venous fnenciat instruments recorded at cost in the December 31, 2014 and March 31, 2015 coot:grad balance sheets Met are not required b be recorded at law value For these retruments, the Operating Eases teed the folowing methods and assumptions to estimate the tar value • Cash end cash equrealents, restricted cash, accounts receivable and mamas payable the canying arivert approximates fair value beta ode of the short-term matLrey of the nstrunents • Longterm debt fair value is based on the amass of future cash flows associated wth each debt iretrument assorted at the ofrent borrowng rate for smear debt orstrumerds of comparable terns As at March 31. 2015. the far value of the Operating Entaes' long-term debt with unrelated parties a approximately 7 7% greater than its carrying vete At December 31, 2014, the fair value was approarretely 80% fleeter than its carryng amount • Gwen that the shareholder loan agreements do rot contan a feted a determinable repayment schedule, the amortized cost carryirg value of loans from shareholders a deemed to approximate far value 3. Cash and cash equivalents Cash and cash equwaents corset of March 31, December 31, Figures In ZAR 4000 2016 2014 Bank balances 112,358 147.764 The ful value of cash and cash equivalents has teen pledged as collateral morel the long-term debt of the Operating Eddies 4. Restricted cash Restricted cash consists of Mach 31, December 31, Figures In ZAR '000 2016 2014 Restricted cash 130,156 1213251 In terms of the relevant loan agreements, the Operating Entities were required to names) separate bank accosts with mnmum balances to at least hay cover all schedeled debt repayments due in the invredate sal north period. Refer to note 9 for further details on these loans. The tut value of restricted cash has been pledged as collateral aganst the long-term debt of tre Operating Entices F-95 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058372 CONFIDENTIAL SDNY_GM_00204556 EFTA01366844