Helios Re Socimi, S.a. · BME:SCHLR
Helios Re Socimi — Lar España Real Estate SOCIMI — Debt Investor Presentation (July 2021)
13 slides from Helios Re Socimi's debt investor presentation, July 2021
Slide 1: Green Bond Issuance
GREEN BOND ISSUANCE J U L Y 2 0 2 1 www.larespana.com
Slide 2: Today's presenters
Green Bond Issuance Today´s presenters Hernán San Pedro José Luis del Valle Miguel Pereda Jon Armentia Head of I.R. and Corporate Chairman of the Board of Lar España Board Director Corporate Director and Communication of Lar España Directors of Lar España & Chairman of Grupo Lar CFO of Lar España 2
Slide 3: Rationale of the operation
Green Bond Issuance After the renewal of the IMA last June, the refinancing of the debt was the second step to give continuity and stability to our company's strategy Rationale of the Although we had a financial debt position with an LTV operation of c. 40% and no maturities until 2022 we have antic
Slide 4: Investment grade BBB based on solid reasons
Green Bond Issuance Investment grade BBB by Leading Retail Platform in Spain: Largest Player by Owned GLA with a Diversified Portfolio of Multiproduct Retail Offer Iconic Collection of Modern, Flagship Assets Dominant in their Catchment Area Blue-Chip Tenant Base with Long Lease Duration Providing C
Slide 5: What have we done? Bond terms
Green Bond Issuance What have we done? Bond terms Corporate Rating: BBB Financial Covenants: LTV < 60%; Limitation on Secured Debt < 40%; ICR 2x; Unencumbered Asset Ratio 125% Issuer: Lar España (or the “Company”) Negative Pledge: Yes Ranking: Unsecured Coupon / Interest rate: 1.75% annual Issue Rat
Slide 6: What have we achieved? Transaction overview
Green Bond Issuance What have we achieved? Transaction overview c.60% of Asset Base is Unencumbered Pro-Forma to the Bond Issuance Option#1. October 2021 Option#2. December 2021 Old Capital Structure (1) New Capital Structure Corporate Loans Corporate Loans €100 MM Listed €100 MM Listed Senior Secur
Slide 7: What have we achieved? Maturity profile and cost of debt
Green Bond Issuance What have we achieved? Maturity profile and cost of debt Maturity Profile - Pre-Refinancing Maturity Profile - Pro-Forma Transaction Debt (€MM) Debt (€MM) Avg. Debt Maturity: Avg. Debt Maturity: 2.6 years 4.9 years Average cost of debt- Post-Refinancing Average cost of debt- Pre-
Slide 8: ISS-ESG Second Party Opinion on the Framework
Green Bond Issuance ISS-ESG has provided a Second 81.3 % Party Opinion on this Framework Use of proceeds Aligned with those recognized by the Green Bond Principles 2021 Project Evaluation / Selection In line with market practice Management of Proceeds In line with market practice Reporting In line w
Slide 9: Financial Policy Framework
Green Bond Issuance Financial Policy Framework Option#2. December 2021 Leverage policy: Target to keep net LTV around 40% Liquidity: Maintain prudent control of liquidity: current cash position covers Company expenses, including financial costs, for the next 4 years Strong balance sheet position wit
Slide 10: A real success: what have investors valued?
Green Bond Issuance A real success: what have investors valued? Option#1. October 2021 Option#2. December 2021 A strong business model and extraordinary resilience Strict financial and cost control, moderate indebtedness and strong valuations High-quality operational management and with excellent tr
Slide 11: Final remarks: value drivers for Lar España and its shareholders
Green Bond Issuance Final remarks: value drivers for Lar España and its shareholders Option#1. October 2021 Option#2. December 2021 € 400 Mn has been obtained (similar amount as the one raised in the IPO of March 2014) The company has taken advantage of the good market conditions, anticipating matur
Slide 12: Disclaimer
Disclaimer This document has been prepared by Lar España Real Estate SOCIMI, S.A. (the “Company”) for information purposes only and the information included in this document is not regulated information or information which has been subject to prior registration with, or control by, the Spanish Nati
Slide 13: www.larespana.com
—_— lar www.larespana.com
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