Helios Re SOCIMI, S.A. · BME:SCHLR
Helios Re SOCIMI — Lar España Real Estate SOCIMI — Debt Investor Presentation (October 2021)
17 slides from Helios Re SOCIMI's debt investor presentation, October 2021
Slide 1: 7 Year Green Bond Issuance
7 YEAR GREEN BOND ISSUANCE O C T O B E R 2 0 2 1 www.larespana.com
Slide 2: Today's presenters
Green Bond Issuance Today´s presenters Jon Armentia Hernán San Pedro Corporate Director and Head of I.R. and Corporate CFO of Lar España Communication of Lar España 2
Slide 3: Where we have come to
Where we have come to 1
Slide 4: Lar España, leader in the retail segment
Green Bond Issuance Our Mission Optimize the profitability of our shareholders through responsible and efficient management of our retail assets, which Lar España, leader in the incorporates technology as a key element in a relationship that generates value for our retailers and customers. retail se
Slide 5: Excellent track record of delivering solid financial performance
Green Bond Issuance Excellent track record of delivering solid financial performance Key performance highlights1 (2.0%) 2.9% Gross Income2 Occupancy GAV 3.8% (€Mn) 1,552 (€Mn) (%) 1,536 -6.5% 9.0% 96.9 1,475 84.4 94.8% 94.5% 95.4% 81.6 2018 2019 2020 2018 2019 2020 2018 2019 2020 EBITDA EPRA EPS Wau
Slide 6: Best in class ESG policy
Green Bond Issuance Best in class ESG policy E Lar España is fully committed towards a sustainable management of its assets. Considering GHG emissions, ALIGNED WITH INTERNATIONAL STANDARDS water use, waste and pollution in the ESG Masterplan TO IMPROVE ESG TRACEABILITY to help mitigate climate chang
Slide 7: Transaction overview
Transaction overview 2
Slide 8: Rationale of the operation
Green Bond Issuance After the successful inaugural €400 Mn, move to an unencumbered asset base Although we had a financial debt position with an LTV Rationale of the round to 40% and no maturities until 2022 we have operation anticipated the refinancing of the debt, seeking to extend the maturity, t
Slide 9: Bond terms
Green Bond Issuance 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: 1.84% annual Issue Rating: BBB Green Bond
Slide 10: Transaction overview
Green Bond Issuance Transaction overview 100% of Asset Base is Unencumbered Pro-Forma to the New Bond Issuance Option#1. October 2021 Option#2. December 2021 Old Capital Structure (1) New Capital Structure Corporate Loans €100 Mn Corporate Loans New Unsecured Bond €100 Mn €300 Mn Listed Listed Inaug
Slide 11: Maturity profile & cost of debt
Green Bond Issuance Maturity profile & cost of debt Maturity Profile - Pre-Transaction Maturity Profile - Pro-Forma Transaction Debt (€MM) Debt (€MM) Avg. Debt Maturity: Avg. Debt Maturity: 4.9 years >6 years 428 425 To be repaid with 400 unused proceeds 300 163 from July’s issuance 400 105 153 123
Slide 12: 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 13: ISS-ESG Second Party Opinion on the Green Bond 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 14: 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 15: 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 € 300 Mn have been obtained after the successful inaugural €400 Mn Senior Unsecured Green Notes Issued in July (700 Mn in 3 months) The company has taken advantage of t
Slide 16: 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 17: www.larespana.com
—_— lar www.larespana.com
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