CapitaLand Integrated Commercial Trust - Annual Report 2021

Notes to the Financial Statements YEAR ENDED 31 DECEMBER 2021 29 FINANCIAL RISK MANAGEMENT (continued) Hedge accounting Cash flow hedges The Group and the Trust held the following instruments to hedge exposures to changes in foreign currency and interest rates. Maturity Within 1 year More than 1 year $’000 $’000 Group 2021 Foreign currency risk Cross currency swaps Net exposure ($’000) 190,100 1,570,852 Average SGD:HKD forward contract rate 0.1653 0.1715 Average SGD:JPY forward contract rate – 0.0119 Average SGD:USD forward contract rate – 1.3570 Interest rate risk Interest rate swaps Net exposure ($’000) 300,000 910,000 Average fixed interest rate % 0.96 1.69 2020 Foreign currency risk Cross currency swaps Net exposure ($’000) 239,450 1,635,952 Average SGD:HKD forward contract rate 0.1751 0.1696 Average SGD:JPY forward contract rate 0.0121 0.0119 Average SGD:USD forward contract rate – 1.3570 Interest rate risk Interest rate swaps Net exposure ($’000) 605,000 655,000 Average fixed interest rate % 2.80 1.61 Trust 2021 Interest rate risk Interest rate swaps Net exposure ($’000) – 735,000 Average fixed interest rate % – 1.68 2020 Interest rate risk Interest rate swaps Net exposure ($’000) – 180,000 Average fixed interest rate % – 2.47 CapitaLand Integrated Commercial Trust 292