Asm International N.v. · EURONEXT:ASM
Asm International — Shareholder Meeting (November 2009)
9 slides from Asm International's shareholder meeting presentation, Nov 24, 2009
Slide 1: Extraordinary Shareholders meeting: New Financing
Extraordinary Shareholders meeting New Financing 24 November 2009 © 2006 ASM Confidential and Proprietary Information
Slide 2: Existing situation
Existing situation Front-End Operations Stand-by facility of Euro 50 mln • Expiring February 2010 Convertibles outstanding • 5.25% due 2010 $ 21 mln outstanding • 4.25% due 2011 $ 128 mln outstanding © 2006 ASM Confidential and Proprietary Information 24 November 2009 2
Slide 3: Financing requirement
Financing requirement Front-End Operations • To provide financial security to weather the cycle and allow for the ongoing restructuring • Have adequate level of Working Capital available to finance recovery and growth • Secure financial resources in case of a double dip scenario © 2006 ASM Confident
Slide 4: New bank financing
New bank financing Front-End Operations • Renewed Euro 50 mln stand-by facility from Rabobank and Morgan Stanley expiring in November 2012 • Possible to increase to Euro 100mln for which syndication is ongoing • As with the previous facility for “security and peace of mind” © 2006 ASM Confidential a
Slide 5: New debt financing
New debt financing Front-End Operations Issued Euro 150 mln senior unsecured convertible bonds due November 2014 • Coupon 6.5% • Conversion price Euro 17.09 • Extend maturity © 2006 ASM Confidential and Proprietary Information 24 November 2009 5
Slide 6: Use of funds
Use of funds Front-End Operations • Buy back as much as possible of the 2010 & 2011 bonds, following successful buy back program in previous years which was financed by the ASM PT dividend • Provide additional working capital for growth and stability © 2006 ASM Confidential and Proprietary Informati
Slide 7: Manage dilution
Manage dilution Front-End Operations Original #of shares • Issued for the 2010 4.682.622 • Issued for the 2011 7.204.611 11.887.233 Still outstanding • Current dilution 2010 1.088.596 • Current dilution 2011 6.165.475 7.254.071 • New issue 2014 8.777.063 © 2006 ASM Confidential and Proprietary Infor
Slide 8: Conclusion
Conclusion Front-End Operations In summary this financing structure allows the Company to: • Complete the restructuring as announced in January and July of this year • Benefit from the recovery or, alternatively • Continue to weather the cycle in case of a prolonged downturn • Focus on the customer
Slide 9: © 2006 ASM Confidential and Proprietary Information
© 2006 ASM Confidential and Proprietary Information
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