75589 (2024). Francisco Hernandez to the Minister for Tertiary Education and Skills

Written Question

Published date: 04 Dec 2024

Metadata

Document type:	Written Question
Parliament number:	54
Question number:	75589 (2024)
Question asked:	20 Nov 2024
Member asking:	Francisco Hernandez
Portfolio:	Minister for Tertiary Education and Skills
Minister replying:	Hon Penny Simmonds
Answer received:	28 Nov 2024
Status:	Question Answered
Reply type:	Reply
Document ID:	WQ_75589_2024
Document guid:	0312b6c9-2307-4784-9f23-b2f08812cf8f

75589 (2024). Francisco Hernandez to the Minister for Tertiary Education and Skills: How much borrowing headroom, if any, does Waikato University currently have before breaching their borrowing consent covenant with the Tertiary Education Commission?

Hon Penny Simmonds: The University of Waikato had a $100 million borrowing consent limit for 2023. As at the end of 2023, the university had a $75m revolving loan facility with ASB Bank Limited (ASB) and a $25m revolving loan facility with Industrial and Commercial Bank of China Limited (ICBC). At balance date the University had drawn down $50.8m (2022: $29.5m) of the ASB facility and none of the ICBC facility. The TEC receives regular reporting from Waikato on its financial performance and debt position.