Santos Limited · ASX:STO
Santos — Investor Presentation (September 2010)
6 slides from Santos's investor presentation, Sep 17, 2010
Slide 1: Hybrid Issue and GLNG Funding Update
For personal use only 9/17/2010 Hybrid Issue and GLNG Funding Update 17 September 2010 Disclaimer & Important Notice This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected e ected
Slide 2: Funding strategy and objectives
9/17/2010 Funding strategy and objectives For personal use only Funding strategy Provide sufficient balance sheet capacity to: - Ensure uninterrupted execution of business strategy - Safeguard the base business by minimising financial risk Financial objective Maintain BBB+ rating Minimise cost
Slide 3: Pre-fund equity component
9/17/2010 Pre-fund equity component For personal use only In excess of $7 billion in pre-funding Sell down of GLNG equity - PETRONAS 40% sell down US$2 billion - Total 15% sell down US$0.6 billion Sale of other non-producing assets - Petrel/Tern/Frigate, Elevala, Evans Shoal, others: up to US$0.
Slide 4: Maintain sufficient liquidity
9/17/2010 Maintain sufficient liquidity For personal use only $2 billion bilateral facility established - Increase on previous $700 million facility - Average tenor 5 years plus Do not utilise DRP underwriting as primary funding mechanism, retain as equity reserve Further non-producing p g ass
Slide 5: Hybrid Issue
9/17/2010 Hybrid Issue For personal use only Key points and rationale Issue size €650 million (A$900 million) EUR fixed coupon rate of 8.25% S&P have confirmed 100% equity credit classification Dollar for dollar reduction in amount of potential further equity (if required) to maintain BBB+ r
Slide 6: Hybrid Issue and GLNG Funding Update
For personal use only 9/17/2010 Hybrid Issue and GLNG Funding Update 17 September 2010 6