Asian Pay Television Trust · SGX:S7OU
Asian Pay Television Trust — Investor Presentation (November 2018)
14 slides from Asian Pay Television Trust's investor presentation, Nov 26, 2018
Slide 1: Refinancing, Outlook & Strategy
REFINANCING, OUTLOOK & STRATEGY 26 NOVEMBER 2018
Slide 2: Important Notices and Disclaimer
IMPORTANT NOTICES AND DISCLAIMER Disclaimer Asian Pay Television Trust (“APTT”) is a business trust registered under the Business Trusts Act (Chapter 31A of Singapore) and listed on the Singapore Exchange Securities Trading Limited. APTT Management Pte. Limited (“AMPL”) is the Trustee-Manager of APT
Slide 3: Agenda
TABLE AGENDA 1 OF CONTENTS A 1. REFINANCING: OVERVIEW & SIGNIFICANCE 2. UPDATE ON DEBT MANAGEMENT PROGRAMME 3. OUTLOOK & STRATEGY 2
Slide 4: Refinancing: Overview & Significance
REFINANCING: OVERVIEW & SIGNIFICANCE 3
Slide 5: Refinancing Overview
REFINANCING OVERVIEW Successfully refinanced outstanding debts ahead of maturity; improves interest margin and arrangement fees • Refinanced existing NT$29.0 billion facilities with new seven-year facilities of NT$31.0 billion • Bear floating interest rate of TAIBOR1 plus an interest margin Onshore
Slide 6: Refinancing Significance
REFINANCING SIGNIFICANCE Demonstrate strong lender support and confidence in APTT’s1 business and its management • Successful refinancing ahead of maturity, at lower interest margin and arrangement fees, despite higher debt levels Provides funding certainty • Eliminates the need to make significant
Slide 7: Update on Debt Management Programme
UPDATE ON DEBT MANAGEMENT PROGRAMME 6
Slide 8: Three Key Components
THREE KEY COMPONENTS To reduce dependence on borrowings and strengthen balance sheet Refinancing Completed • Improved interest margin and arrangement fees; enable APTT to derive substantial savings through lower interest costs • Provide funding certainty and eliminate the need to make significant pr
Slide 9: Distributions
DISTRIBUTIONS APTT has been paying a large distribution to Unitholders for as long as it could; New distribution guidance in 2019 and 2020 to reposition APTT for the future New distribution guidance in 2019 and 2020 Total distributions to date to support debt management programme • Over 43 cents per
Slide 10: Debt Level
DEBT LEVEL Need to manage gearing ratio: • Gearing ratio expected to peak at nearly 8 times net debt to EBITDA by 31 December 2018 due to: • Additional borrowings in 2018 to fund capital expenditure to deploy fibre deeper into the network to increase network capacity and support Broadband business •
Slide 11: Outlook & Strategy
OUTLOOK & STRATEGY 10
Slide 12: Outlook & Strategy
OUTLOOK & STRATEGY Fully committed to navigate the challenges faced by APTT & the industry and strengthen APTT’s business • Focus to strengthen balance sheet and cash flows to support operations and provide for flexibility to effectively compete in this economic and operating environment • Continue
Slide 13: Driving Broadband Growth
DRIVING BROADBAND GROWTH Drive growth in Broadband business for long-term sustainability Broadband Growth Strategy • The number of Broadband subscribers has been steadily increasing in 2018. Focussed on growing Broadband market share beyond the current 28% by increasing RGUs through attractively pri
Slide 14: End
END 13
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