As most of their debt is denominated in NZD, the best way of looking at their debt is in NZ dollars as follows: Interest Bearing debt: Convertible notes($A155mil)$NZ 195mil (due Dec 2012 to Mar 2014) Capital leases $NZ 68mil (due over 5yrs but mainly 2011) Project debt $NZ 20mil (due in 2009/10) Operating leases $NZ 22mil (due over 5yrs) TOTAL $NZ 305mil