Charter Hall Retail Reit · ASX:CQR
Charter Hall Retail Reit — Merger or Acquisition (November 2013)
18 slides from Charter Hall Retail Reit's merger presentation, Nov 22, 2013
Slide 1: Asset Acquisition and Equity Raising
Charter Hall Retail REIT For personal use only Asset Acquisition and Equity Raising Not for distribution or release in the United States or to US persons
Slide 2: Transaction Overview
Charter Hall Retail REIT Transaction Overview For personal use only • Charter Hall Retail REIT (CQR or the REIT) has contracted to acquire a high quality sub-regional shopping centre located in Melbourne’s South for $100m1 (the Asset Acquisition) • The Asset Acquisition will be partially funded by a
Slide 3: Transaction Rationale
Charter Hall Retail REIT Transaction Rationale On-strategy acquisition of high quality retail asset For personal use only • The Asset Acquisition is consistent with CQR’s stated strategy of owning supermarket anchored shopping centres weighted to non-discretionary retail spending 5 yr forecast Roseb
Slide 4: Asset Acquisition: Unique location in attractive trade area
Charter Hall Retail REIT Asset Acquisition Unique location in attractive trade area For personal use only • Strong competitive advantage with no other sub-regional centre within the main trade area • Mornington Peninsula is a key tourism destination: – 2.2 million day trippers per annum – 2.8 millio
Slide 5: Property overview – Rosebud Plaza, Vic
Charter Hall Retail REIT Asset Acquisition Property overview – Rosebud Plaza, Vic For personal use only Property Details Valuation $100.0m Year one yield 7.8% Occupancy 99% Total centre WALE 6.5 yrs Centre moving annual turnover (MAT) $121.7m Gross lettable area (GLA) 24,582sqm No. of tenancies (exc
Slide 6: Transaction Impact: Key financial metrics
Charter Hall Retail REIT Transaction Impact Key financial metrics For personal use only Financial impact1 Australian Balance NTA Per Unit2 Sheet Gearing2 EPU neutral $3.33 32.4%4 FY14 Operating Guidance range earnings per maintained (0.7)% unit EPU yield of 7.8%5 0.3% on issue price $3.324 31.7% Aus
Slide 7: Capital Management: Funding and refinancing overview
Charter Hall Retail REIT Capital Management Funding and refinancing overview For personal use only • Underwritten institutional placement to raise $80m with balance of Asset Acquisition initially funded from existing debt facilities • Conditional placement anticipated to be allotted in February 2014
Slide 8: Offer Details: Offer pricing
Charter Hall Retail REIT Offer Details Offer pricing For personal use only Underwritten Institutional placement • Units to be issued at a fixed price of $3.80 per unit (Offer Price) • Units will rank equally with existing CQR units and will be entitled to the full distribution for the six months end
Slide 9: Offer Details: Indicative Timetable
Charter Hall Retail REIT Offer Details Indicative Timetable For personal use only Institutional offer opens 9:00am (AEDT) 22 November 2013 Institutional offer closes 2:00pm (AEDT) 22 November 2013 Settlement of institutional placement units Wednesday 27 November 2013 Allotment and trading of institu
Slide 10: Risk factors
Charter Hall Retail REIT Appendix A Risk factors For personal use only Investors should carefully consider the risks factors described below. Additional risk factors and uncertainties that are not known to the Responsible Entity, Charter Hall Retail Management Limited (CHRML) at the time of this Off
Slide 11: Risk factors (continued)
Charter Hall Retail REIT Appendix A Risk factors For personal use only Risks relating to CQR (continued) Capital expenditure CQR remains responsible for capital repairs for its share of the properties under the terms of the leases. CQR may incur capital expenditure for unforeseen structural problems
Slide 12: Risk factors: Risks relating to CQR (continued)
Charter Hall Retail REIT Appendix A Risk factors For personal use only Risks relating to CQR (continued) Change of responsible entity If the Responsible Entity is replaced as the responsible entity of CQR by an entity that is not a subsidiary of the Charter Hall Group, there is the potential for adv
Slide 13: Risk factors: General market risks
Charter Hall Retail REIT Appendix A Risk factors For personal use only General market risks Economic and market conditions CQR may be adversely impacted by many factors including changes in general economic conditions such as interest rates, inflation, retail spending levels, consumer confidence lev
Slide 14: International offer restrictions
Charter Hall Retail REIT Appendix B International offer restrictions For personal use only This document does not constitute an offer of New Units in any jurisdiction in which it would be unlawful. New Units may not be offered or sold in any country outside Australia except to the extent permitted b
Slide 15: International offer restrictions
Charter Hall Retail REIT Appendix B International offer restrictions For personal use only Netherlands The information in this document has been prepared on the basis that all offers of New Units will be made pursuant to an exemption under the Directive 2003/71/EC ("Prospectus Directive"), as amende
Slide 16: International offer restrictions
Charter Hall Retail REIT Appendix B International offer restrictions For personal use only South Africa This document does not, nor is it intended to, constitute a prospectus prepared and registered under the South African Companies Act and may not be distributed to the public in South Africa. An en
Slide 17: International offer restrictions
Charter Hall Retail REIT Appendix B International offer restrictions For personal use only United Kingdom Neither the information in this document nor any other document relating to the offer has been delivered for approval to the Financial Conduct Authority in the United Kingdom and no prospectus (
Slide 18: Disclaimer
Charter Hall Retail REIT Disclaimer For personal use only This presentation has been prepared by Charter Hall Retail Management Limited (ABN 46 069 709 468) (AFS Licence No. 246996) as responsible entity of Charter Hall Retail REIT (CQR), in relation to a placement (Placement) of new fully-paid ordi
Charter Hall Retail REIT — Merger or Acquisition (November 2013) on 6ix