Global Investments Limited · SGX:B73
Global Investments — Investor Presentation (November 2007)
19 slides from Global Investments's investor presentation, November 2007
Slide 1: Current Asset Review - Operating Lease Assets
Current Asset Review - Operating Lease Assets
Slide 2: Babcock & Brown Air Limited (JET-i Successor Entity)
BABCOCK & BROWN AIR LIMITED (JET-i SUCCESSOR ENTITY) • Investment balance as at 30 Sep 2007: US$31.3 million • Air lessor of commercial aircraft listed on NYSE at US$23 per share on 27 Sep 2007 • BBSFF is escrowed, and will be able to sell B&B Air Shares in 2008 • No indicators of impairment Current
Slide 3: CDS on JET-i Leasing Tranche B Debt
CDS ON JET-I LEASING TRANCHE B DEBT • Investment balance as at 30 June 2007: US$24.9 million • BBSFF has a credit default swap (“CDS”) with Credit Suisse International that references JET-i Leasing’s Tranche B debt earning USD Libor plus 4.15 p.a. • Investment has performed in line with expectations
Slide 4: Babcock & Brown Aircraft Lessor No.2
BABCOCK & BROWN AIRCRAFT LESSOR NO.2 • Investment balance as at 30 Sep 2007: US $10.8 million • BBSFF owns 2 Boeing 757-200 aircraft leased to First Choice Airways • FedEx Express’s announcement in late 2006 to replace part of its existing freighter fleet with Boeing 757-200 provides further opportu
Slide 5: Babcock & Brown Rail North America
BABCOCK & BROWN RAIL NORTH AMERICA Car Type Breakdown • Investment balance as at 30 Sep 2007: US$38.6 million Mill Gondola Boxcar • BBRNA’s portfolio as at 30 Sep 2007: 8,104 cars; 71 leases; 44 Grain Covered Hopper 3% 7% Cement Covered lessees 11% Hopper 9% Coil Gondola • Top ten lessees comprise 6
Slide 6: Current Asset Review - Loan Portfolio & Securitisation Assets
Current Asset Review - Loan Portfolio & Securitisation Assets
Slide 7: Ancora – Pepper Securitisation No.2
ANCORA – PEPPER SECURITISATION NO.2 • Investment balance as at 30 Sep 2007: A$13.3 million • 2 classes of notes in Pepper Residential Securities No.5 Securitisation issued on 30 May 2006 • Secured against first mortgages over owner occupied, Australian residential property • Investment has performed
Slide 8: Ancora – Pepper Securitisation No.3
ANCORA – PEPPER SECURITISATION NO.3 • Investment balance as at 30 Sep 2007: A$23.40 million • 2 classes of notes in Pepper Residential Securities No.6 Securitisation issued on 27 March 2007 • Secured against first mortgages over owner occupied, Australian residential property • Investment has perfor
Slide 9: Ancora – Seiza Warehouse Note Investment
ANCORA – SEIZA WAREHOUSE NOTE INVESTMENT • Investment balance as at 30 Sep 2007: A$37.8 million • 3 classes of notes issued by Seiza 2006–1 Trust • Secured against first mortgages over Australian residential and commercial property • Investment has performed above expectations: – cash economic incom
Slide 10: Ancora – Seiza Augustus Series 2007-1 Trust
ANCORA – SEIZA AUGUSTUS SERIES 2007-1 TRUST • Investment balance as at 30 Sep 2007: A$14.7 million • 2 classes of notes issued by Seiza Augustus Series 2007-1 Trust • Secured against first mortgages over Australian residential and commercial property with a weighted average loan to value ratio of 75
Slide 11: Mortgages plc Securitisation Investment
MORTGAGES PLC SECURITISATION INVESTMENT • Investment balance as at 30 Sep 2007: £10.1 million • BBSFF owns two classes of notes issued by Newgate Funding 2006-3 plc, a securitisation entity of Mortgages plc – MERCS – all prepayment penalties (not in the waterfall) – Residual Notes – all excess sprea
Slide 12: Ancora – Provident Cashflow Limited (previously PIF)
ANCORA – PROVIDENT CASHFLOW LIMITED (previously PIF) • Investment balance as at 30 Sep 2007: A$11.3 million • Revolving purchase facility to PCL – 3 years with annual review periods at discretion of Ancora, secured against inventory • Specific triggers in the event of deterioration in underlying loa
Slide 13: Avoca VI CLO Investment
AVOCA VI CLO INVESTMENT • Investment balance as at 30 Sep 2007: €4.0 million • BBSFF owns subordinated notes secured against European senior secured, second lien and mezzanine loans which were issued by Avoca VI CLO plc on 16 November 2006 and managed by Avoca Capital Holdings • Investment is perfor
Slide 14: Avoca VII CLO Investment
AVOCA VII CLO INVESTMENT • Investment balance as at 30 Sep 2007: €15.2 million • BBSFF owns subordinated notes secured against European senior secured, second lien and mezzanine loans and Class F notes (rated “B” by Standard & Poor’s) which were issued by Avoca VII CLO plc and managed by Avoca • Inv
Slide 15: Paradox Capital LLC – Subordinated Loan
PARADOX CAPITAL LLC – SUBORDINATED LOAN • Investment balance as at 30 Sep 2007. US$15.0 million, plus an additional US$5.0 million facility • Substantively, this is the subordinate debt in a long term warehouse of IP loans • Investment is performing in line with expectations – cash economic income i
Slide 16: Current Asset Review - Alternative Assets
Current Asset Review - Alternative Assets
Slide 17: AGSO Loan Guarantee
AGSO LOAN GUARANTEE • Investment balance as at 30 Sep 2007: A$50.0 million guarantee to allow Babcock & Brown Group to borrow up to an additional A$50.0 million from Deutsche Bank under a prime broking facility • Can be used for shorter term cash flow management of up to S$40m to allow BBSFF to mana
Slide 18: Paramount Mezzanine Loan
PARAMOUNT MEZZANINE LOAN • Investment balance as at 30 Sep 2007: US$15.0 million • Total cost of Paramount Bay project expected to be US$277.0 million; construction costs are on budget and >90% of raw materials have been purchased • Pre-sales (for which deposits have been received) as at 30 Septembe
Slide 19: Music Copyright Assets
MUSIC COPYRIGHT ASSETS • Investment balance as at 30 Sep 2007. US$30.7 million (excluding acquisition costs) • BBSFF owns the copyright in over 1,000 musical compositions, which entitles it to revenue from the use of the song whenever and however it is used Sources of music publishing revenue A mech
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