Telstra Group Limited · ASX:TLS

Telstra — Corporate Update (April 2003)

8 slides from Telstra's corporate update, Apr 14, 2003

  1. Slide 1: Cover letter to ASX: Analyst briefing - REACH Loan Rearrangement

    14 Aprit 2003 The Manager Company Announcements Office Australian Stock Exchange 10th Floor, 20 Bond Street SYDNEY NSW 2000 ELECTRONIC LODGEMENT Dear Sir or Madam Office of the Company Secretary Level 44 242 Exhibition Street MELBOURNE VIC 3000 AUSTRALIA Telephone 03 8634 6400 Facsimile 03 9632 3215

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  3. Slide 3: Background

    Background * REACH has agreed in principle with its banking syndicate to rearrange its US$1.5bn non-recourse loan. * Over the past few years the international wholesale telecommunications market and particularly the sub-sea cable sector has been experiencing extremely volatile market conditions. — t

  4. Slide 4: Key Features of Loan Rearrangement

    Key Features of Loan Rearrangement Cash flow neutral to Telstra. Telstra and PCCW remain 50/50 shareholders in REACH. Improved schedule of loan repayment. Decrease in loan balance outstanding by US$300m to US$1.2bn. Removal of financial covenants. Loan remains non-recourse to shareholders. Telstra a

  5. Slide 5: Transaction Overview

    Transaction Overview REACH * US$50m escrow account of US$190m Converting Slide 4

  6. Slide 6: Capacity Prepayment Utilisation

    Capacity Prepayment Utilisation REACH Utilisation of capacity determined | by quarter end cash surplus Slide 5

  7. Slide 7: Status of REACH: Post Loan Rearrangement

    Status of REACH: Post Loan Rearrangement + Telstra and PCCW continue to be 50/50 shareholders in REACH. * Syndicated loan facility continues to be non-recourse. * Telstra and PCCW make equal capacity pre-payments to REACH to enable REACH to reduce its debt to banking syndicates to US$1.2bn. + Intere

  8. Slide 8: Appendix: Financial Impact on Telstra Corporation

    Appendix: Financial Impact on Telstra Corporation * Pre-payment of future capacity of US$143m which will be benchmarked against market prices at least annually. « Cash flow neutral: Capacity pre-payment is funded by partial redemption of US$190m converting note. * The capacity pre-payment will be re

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