Keybridge Capital Limited · ASX:KBC
Keybridge Capital — Mariner Bridge Investments — Investor Presentation (May 2007)
18 slides from Keybridge Capital's investor presentation, May 2007
Slide 1: $128 Million Equity Raising
$128 Million Equity Raising May 2007
Slide 2: Disclaimer
Disclaimer Any reproduction or distribution of this Presentation, in whole or in part, or any disclosure of its contents, or use of any information contained in this Presentation for any purpose other than to evaluate an investment in the Company, is prohibited. The information contained in this
Slide 3: Agenda
Agenda 1. Equity raising overview 2. Use of proceeds 3. Mariner Bridge update 4. Investment highlights 5. Board and management 6. Performance to date 7. Balance sheet 8. Outlook 9. Indicative timetable 3
Slide 4: Equity raising overview
Equity raising overview Shares Price Raising 2 for 7 non-renounceable rights 37.1m $2.00 $74m 15% unconditional placement 1 16.9m $2.10–$2.30 2 $37m 3 7.5% conditional placement 8.5m $2.00 $17m 62.5m $128m 1. 15% unconditional placement shares - entitled to participate in the rights issue 2. Indicat
Slide 5: Placement details
Placement details 15% institutional placement to raise approximately $37 million − bookbuild range $2.10–$2.30 7.5% conditional placement at fixed price of $2.00 to raise $16.9 million Unconditional placement shares WILL be entitled to participate in the rights issue Conditional placement sh
Slide 6: Rights issue details
Rights issue details 2 for 7 non-renounceable rights issue at $2.00 to raise approximately $74 million Eligible Mariner Bridge shareholders* may apply for oversubscriptions Mariner Bridge reserves the right to cap allocations of oversubscriptions at 100,000 shares per shareholder Uncondition
Slide 7: Use of proceeds and debt facilities
Use of proceeds and debt facilities $130 million of existing debt facilities of which $51 million drawn as at 31 March 2007 Net offer proceeds of approximately $124 million to be used to pay down debt with balance applied to finance further investments Net proceeds plus access to debt faciliti
Slide 8: Mariner Bridge update
Mariner Bridge update Over the last six months, since pursuing new business strategy of investing in structured finance transactions, Mariner Bridge has: − Successfully raised $125 million of new equity capital − Appointed its full management team − Arranged committed debt facilities of $130 milli
Slide 9: Key investment highlights
Key investment highlights Attractive return on Target pre-tax return across the investment portfolio of over 15% pa investments Full dividend payout policy Relationship with Strategic relationships with specialist partners asset origination Investment portfolio has grown to approx $200 milli
Slide 10: Board and management
Board and management Board Irene Lee (Executive Chairman) Mark Phillips (Managing Director) Ian Ingram (Non-executive Director) Michael Perry (Non-executive Director) Philip Lewis (Non-executive Director) Management Karen Ian Matthew Kyle Eddie David McGregor Pike Davis Richardson Mytkowski Stefanof
Slide 11: Performance
Performance Profit for half year to 31 December 2006: $0.1m Underlying return on investments to 31 December 2006: 13% pa Investment Portfolio: 350 >$325m 300 250 $202m 200 $177m $m 150 $104m 100 50 $11m 0 Oct 06 Dec 06 Mar 07 Apr 07 Dec 07 Target 11
Slide 12: Diversified investment portfolio
Diversified investment portfolio At 31 March 2007 Potential Portfolio (1) (2) Total: $177million Total: $317million 36% 34% 35% 48% 3% 12% 18% Fixed income 14% Fixed income Property Property Infrastructure Infrastructure Leasing Leasing Average Investment : AUD10m Average Investment : AUD11m Currenc
Slide 13: Investment Strategy
Investment Strategy Invest in a diversified portfolio of structured finance transactions in the target asset classes of property, infrastructure, fixed income and leasing Type of investments within each class: Property − Aim to make mezzanine loans and quasi–equity investments against completed
Slide 14: Investment Strategy cont’d…
Investment Strategy cont’d… Fixed Income − May include investments in securitisation programs as well as senior and subordinated loans − Potential Portfolio includes investments of $48 million across 7 USD securitisation programs and $10 million in an AUD securitisation Leasing − Includes loans to a
Slide 15: Simplified balance sheet
Simplified balance sheet Pro forma 31 March 2007 31 March 2007 Post Raising Assets $181m $254m less Debt $ (51m) Nil SHF $130m $254m 15
Slide 16: Outlook
Outlook Robust transaction pipeline − Board approval for an additional $140 million of investments, net of repayments to 30 June 2007 Investments expected to exceed $325m by December 2007 − Increased from $275 million in March 2007 quarterly update Equity raising plus access to debt facilities
Slide 17: Indicative timetable
Indicative timetable Announcement of Rights Offer Tuesday, 8 May 2007 Prospectus lodged with ASIC Wednesday, 9 May 2007 Allotment of Shares under Unconditional Placement Monday, 14 May 2007 Record Date for determining Entitlements Thursday, 17 May 2007 Opening date of Offer Wednesday, 23 May 2007 Cl
Slide 18: Contacts
Contacts Mariner Bridge : Mark Phillips (02) 8001 5705 mphillips@marinerbridge.com.au : Karen McGregor (02) 8001 5700 kmcgregor@marinerbridge.com.au UBS : Guy Foster (02) 9324 3603 guy.foster@ubs.com : Sarah Rennie (02) 9324 2538 sarah.rennie@ubs.com 18
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