Amadeus Introductory presentation - Investor relations at Amadeus
Amadeus Introductory presentation - Investor relations at Amadeus
Amadeus Introductory presentation - Investor relations at Amadeus
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Overview of <strong>Amadeus</strong>’ Debt Structure<br />
Debt M<strong>at</strong>urity Profile as of June 2012 (€mm)<br />
Bank financing<br />
Capital markets<br />
financing<br />
Summary terms of the facilities<br />
Description Amount M<strong>at</strong>urity Comment<br />
Amortizing<br />
Term Loan<br />
€900m Nov 2015<br />
Euro Bond €750m July 2016 Bullet in July 2016<br />
Amortising: bi-annual payments from May 2013<br />
<br />
Approx. €500 MM drawn in Euro / €400 in US Dollar<br />
Bridge Loan Bridge loan €106m May 2013 Remaining part of the original Tranche B, partially amortised<br />
EIB Loan<br />
Revolving Credit<br />
Facilities<br />
106<br />
Development loan<br />
Revolver<br />
12.5<br />
€150m<br />
€50m<br />
€100m<br />
€200m<br />
30<br />
750<br />
May 2021<br />
May 2021<br />
May 2013<br />
Dec 2014<br />
<br />
<br />
<br />
<br />
Amortising: bi-annual repayments from Nov 2015 (first<br />
tranche of €150m) and Nov 2016 (second tranche of 50m)<br />
Senior loan to finance R&D investment in IT<br />
Currently undrawn<br />
EIB Loan<br />
Bridge Loan<br />
Euro Bond<br />
Bank Financing<br />
300<br />
200<br />
250<br />
150 35 35 35 35 17.5<br />
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021<br />
Available liquidity to cover working capital needs and other<br />
In May 2011, <strong>Amadeus</strong> signed<br />
an agreement with a group of<br />
intern<strong>at</strong>ional banks to<br />
refinance its existing debt<br />
through a new senior<br />
unsecured credit facility<br />
Covenants:<br />
- Max. 3.0x Net Debt/ EBITDA<br />
- Min. 3.0x interest coverage<br />
In July 2011, <strong>Amadeus</strong><br />
refinanced part of the bridge<br />
loan with a €750 MM 5-year<br />
Euro Bond<br />
In May 2012 the liquidity<br />
position of the company was<br />
further reinforced with the<br />
sign<strong>at</strong>ure of a new €200m<br />
revolving credit facility. A<br />
€200m development loan was<br />
signed with the European<br />
Investment Bank to finance<br />
R&D in IT<br />
In June 2012 the bridge loan<br />
was partially cancelled<br />
(€350m) with existing cash<br />
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