Infratil Limited · NZX:IFT
Infratil — Debt Investor Presentation (July 2023)
23 slides from Infratil's debt investor presentation, Jul 17, 2023
Slide 1: Infrastructure Bond Offer – Investor Presentation
Infrastructure Bond Offer – Investor Presentation 17 July 2023
Slide 2: Important Information
Important Information The offer of Infrastructure Bonds by Infratil Limited (“Infratil”) described in this presentation is made in reliance upon the exclusion in clause 19 of schedule 1 of the Financial Markets Conduct Act 2013 ("FMCA"). It is an offer of Infrastructure Bonds that have identical rig
Slide 3: Disclaimer
Disclaimer This presentation has been Information This presentation contains summary information about Infratil and its activities which is current only as at the date of this presentation. The information in this prepared by Infratil Limited (NZ presentation is of a general nature and does not purp
Slide 4: Infratil Overview
Established Listed on Managed by Overview Morrison & 1994 NZX/ASX Co Infratil is an infrastructure Market Capitalisation1 Group Assets2 FY2023 Investment3 investor with significant investments in $8.5b ~$12b $1.4b Digital Infrastructure, Track record After tax return4 2024F EBITDAF5 Renewables, Heal
Slide 5: Investment Approach
Investment Approach Our approach has • Infratil invests in infrastructure businesses, targeting returns to shareholders of 11-15% p.a. over the long-term remained • Our investment focus is on sectors and businesses with: consistent strong defensive characteristics exposure to growth, driven by m
Slide 6: Target Returns
Target Returns Portfolio well positioned to deliver attractive returns to shareholders Infratil Expected Leverage Management Return to Portfolio Returns Assumptions Costs Shareholders Portfolio well Core 8-10% Average net Lower risk Per annum debt / total positioned to capital 30% at 1% of assets pe
Slide 7: Portfolio Composition
Portfolio Composition 6% Infratil remains 11% Infratil’s Renewables high conviction in 17% $12.0bn platform is expected to become a more significant component of the portfolio Digital 65% as the current renewable development businesses Infrastructure as mature demonstrated by Digital Renewables Heal
Slide 8: Portfolio Strategy
Portfolio Strategy • Long-term mega trends driving Infratil’s chosen sectors of Digital Infrastructure, Renewables Long-term mega and Healthcare are still early trends driving • Further backed by long-term tailwinds for infrastructure investment, which continues to grow rapidly, globally Infratil’s
Slide 9: Portfolio Outlook
Portfolio Outlook • Our portfolio is performing well, despite global and local economic uncertainty, inflation and interest Infratil remains rate headwinds • Infratil remains well positioned for capital investment at attractive returns to shareholders, while also well positioned continuing to develo
Slide 10: Recent Transactions
Recent Transactions Infratil has recently announced two investments into Digital Infrastructure One NZ Equity Raise Console Connect • Infratil completed the acquisition of • Alongside the announcement of Infratil’s • A strategic investment into Console Brookfield's 49.95% stake in One NZ on increase
Slide 11: Financial Impact
Financial Impact Infratil FY2024 earnings guidance1 FY2024 • FY2024 Proportionate EBITDAF2 guidance range increased to $800-840 million, reflecting an increased contribution from One NZ Proportionate • Key guidance assumptions in relation to One NZ include: - 2.5-month contribution from Infratil’s e
Slide 12: Debt Capacity & Facilities
Debt Capacity & Facilities Debt Capacity & Facilities • Infratil has current available liquidity1 of ~$1 As at As at billion which can be applied to support Conservative Liquidity ($Millions) 31 March 2023 10 July 2023 portfolio growth platforms (including Console Connect) gearing level of Net bank
Slide 13: Bond Details
Bond Details
Slide 14: Key Terms of the Infrastructure Bonds (1/2)
Key Terms of the Infrastructure Bonds (1/2) Issuer Infratil Limited (“Infratil”). Description of the Bonds Unsecured, unsubordinated fixed rate bonds. Tenor 6 years, maturing 31 July 2029. Issue Amount Up to $75 million (with the ability to accept oversubscriptions of up to an additional $75 million
Slide 15: Key Terms of the Infrastructure Bonds (2/2)
Key Terms of the Infrastructure Bonds (2/2) Infratil may suspend the payment of interest where an Interest Suspension Event exists. If the payment of interest is suspended: (a) interest will continue to accrue (without compounding) and will be paid by Infratil when the Interest Suspension Event ceas
Slide 16: Key Information and Timeline
Key Information and Timeline The Offer Pre-offer Announcement 10 July 2023 Bookbuild process Opening Date 17 July 2023 NZX Firms, institutional investors and other approved parties to be invited to participate in Closing Date 11.00am, 21 July 2023 the bookbuild process No public pool Minimum applica
Slide 17: Closing Remarks & Questions
Closing Remarks & Questions
Slide 18: Supplementary Materials
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Slide 19: Our approach to sustainability
Our approach to sustainability Sustainability is integrated into our investment approach - good management of ESG risks and opportunities is inherently aligned with value
Slide 20: A Sustainable Vision
A Sustainable Vision Credibility is • Being transparent, collaborative and following recognised standards and frameworks are fundamental to key to delivering on our sustainability ambitions Infratil’s ambition • Infratil has committed to setting a Science Based Targets initiative (‘SBTi’) validated
Slide 21: Portfolio Composition
Portfolio Composition • CDC Data Centres is the largest privately owned and operated data centre business in Australia. Infratil is a high CDC operates 13 data centres, with a total built capacity of 268MW, across six campuses in Sydney, Canberra, and New Zealand conviction • An additional 42MW of c
Slide 22: Portfolio Composition
Portfolio Composition • RetireAustralia is the largest privately-held pure-play retirement operator in Australia with Infratil is a high over 4,000 independent living units and apartments across 27 villages in NSW, South Australia and Queensland conviction • Owner and operator of 26 hydro power stat
Slide 23: Asset Values
Asset Values Asset Value Value of Infratil’s ($ Millions) Stake Asset Value • Asset values of Infratil’s investments in CDC Data Centres, CDC Data Centres 48.1% $3,660m subsidiaries and One NZ 99.9% $3,600m1 Longroad Energy, Galileo, Qscan, RetireAustralia and RHCNZ Medical Imaging reflect Independe