Lifestyle Communities Ltd · ASX:LIC
Lifestyle Communities — Debt Investor Presentation (May 2011)
17 slides from Lifestyle Communities's debt investor presentation, May 9, 2011
Slide 1: Long-Term Debt Facility
For personal use only LONG-TERM DEBT FACILITY May 2011 AFFORDABLE SENIOR HOUSING
Slide 2: Affordable Senior Housing
For personal use only AFFORDABLE 2 SENIOR Clubhouse Lifestyle Warragul. HOUSING February 2011
Slide 3: Contents
Contents For personal use only 1. Highlights 2. Long-term debt facility Loan note details Benefits to Lifestyle Communities Use of proceeds Community status Organisational structure Statement of financial position 3. Operational outlook Financial performance FY2011 Development forecast 4. Summary 5.
Slide 4: Highlights
1. Highlights For personal use only • Lifestyle Communities has entered into a $50m long-term debt agreement with a major institutional investor. • Replaces short-term debt with long-term debt, providing certainty of funding. • Enables capital to be recycled from near complete communities to commenc
Slide 5: Loan note details
2. Long-term debt facility For personal use only Loan note details Investor A major institutional investor Amount $50m of loan notes (Notes) Maturity Redemption in 10 years, no right of conversion to equity. Both parties have the option for early redemption after 5 years Draw downs Facility will be
Slide 6: Benefits to Lifestyle Communities
2. Long-term debt facility For personal use only Benefits to Lifestyle Communities • Long-term financing enables Lifestyle Communities to start new projects with a greater level of certainty. • Objective is to commence a new project every 12-18 months by recycling capital from completed and near com
Slide 7: Benefits to Lifestyle Communities
2. Long-term debt facility For personal use only Benefits to Lifestyle Communities • On maturity Lifestyle Communities will fund the redemption from cash and senior debt due to low LVRs. Lifestyle Communities may also issue additional Notes to meet redemption. • Ability to redeem after 5 years provi
Slide 8: Use of proceeds
2. Long-term debt facility For personal use only Use of proceeds • Notes proceeds will be applied to: > discharge the existing debt facilities and transaction costs associated with the Notes issue > commence development of Lifestyle Shepparton and Lifestyle Bayside communities > acquire additional s
Slide 9: Community status
2. Long-term debt facility For personal use only Community status ASSETS • Existing communities Communities Sites Sites sold and Sites sold and being Sites sold, occupied and Sites unsold selling well with Melton occupied developed being developed (99% sold), Tarneit Existing communities # % (94% so
Slide 10: Organisational structure
2. Long-term debt facility For personal use only Organisational structure Funding Notes Holders $50m Funding to continue developing Funding to Cranbourne and to commence complete new communities developments Quarterly coupon payment Surplus cash flows from annuity streams and the remaining Secured i
Slide 11: Statement of financial position
2. Long-term debt facility For personal use only Statement of financial position Pro-forma Statement of Financial Position (extracts) 31-Dec-10 ($’000) Impact ($’000) Pro-forma ($’000) Cash and equivalents 417 12,759 13,176 Total assets 65,539 12,759 78,298 Current liabilities 26,933 (25,703) 1,230
Slide 12: Financial performance FY 2011
3. Operational outlook For personal use only Financial performance FY 2011 • The FY2011 result is expected to exceed the result achieved in FY2010. • Expect slower short-term growth of net profit before tax while funds are employed to grow the asset base and long-term annuity income streams. • The n
Slide 13: Development forecast
3. Operational outlook For personal use only Development forecast* Community FY11 FY12 FY13 FY14 FY15 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Brookfield (Melton) Seasons (Tarneit) Warragul Cranbourne Shepparton Bayside (Chelsea Heights) New Greenfield Project 1 New Greenfield Pro
Slide 14: Summary
4. Summary For personal use only The new funding facility: • Swaps short-term debt with long-term debt providing certainty of funding. • Facilitates the recycling of capital from maturing developments into new projects. • Accelerates the growth in the number of units under management. • Accelerates
Slide 15: Disclaimer
5. Disclaimer For personal use only While every effort is made to provide accurate and complete information, Lifestyle Communities Limited (ACN 078 675 153) does not warrant or represent that the information in this presentation is free from errors or omissions or is suitable for your intended use.
Slide 16: For personal use only
For personal use only AFFORDABLE SENIOR HOUSING
Slide 17: For personal use only
For personal use only 0725 LifeComm_WithComps_Final:Layout 1 10/8/06 3:38 PM Page 1 Lifestyle Lifestyle Communities Pty Ltd, 104 Communities Limited, LevelTope Street, 2, 35 MarketSouth Melbourne Street, Vic 3205 Vic 3205 South Melbourne, Telephone: Telephone: 03) 03) 9682 2249 Facsimile: 9682 2249
Lifestyle Communities — Debt Investor Presentation (May 2011) on 6ix