National Storage Reit · ASX:NSR
National Storage Reit — Investor Presentation (August 2018)
15 slides from National Storage Reit's investor presentation, Aug 22, 2018
Slide 1: $175 Million Equity Raising
$175 MILLION EQUITY RAISING NATIONAL STORAGE REIT NOT FOR RELEASE TO US WIRE SERVICES OR DISTRIBUTION IN THE UNITED STATES AUGUST 2018
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared by National Storage REIT (“NSR”) comprising National Storage Holdings Disclaimer Limited (ACN 166 572 845) (“NHSL”) and National Storage Financial Services Limited (ACN 600 787 246 and To the maximum extent permitted by law, no member of NSR or the Unde
Slide 3: Disclaimer Cont'd
DISCLAIMER CONT’D Risk Accounting standards An investment in Stapled Securities (including New Stapled Securities) is subject to investment and other NSR’s statutory results are prepared in accordance with International Financial Reporting Standards known and unknown risks, some of which are beyond
Slide 4: Rationale, Impact and Outlook
RATIONALE, IMPACT AND OUTLOOK RESETTING OUR BALANCE SHEET FOR LONGER-TERM FUNDING FLEXIBILITY ▪ NSR is pleased to announce today a fully underwritten equity raising for a total of ~$175 million ▪ NSR currently has: − $57 million in acquisition opportunities settled or contracted in FY19 to date whic
Slide 5: Equity Raising Overview
EQUITY RAISING OVERVIEW • A fully underwritten ~$175 million equity raising, comprising: − Institutional placement to raise ~$50 million (“Institutional Placement”); and − 5-for-37 accelerated non-renounceable entitlement offer to raise ~$125 million (“Entitlement Offer”)(together with the Instituti
Slide 6: Sources and Uses
SOURCES AND USES SOURCES A$m USES A$m Institutional Placement proceeds 50.0 Identified acquisition opportunities 56.7 Entitlement Offer proceeds 125.4 Costs relating to the Offer 3.9 Repayment of debt 114.8 Total 175.4 Total 175.4 6
Slide 7: Pro Forma Balance Sheet
PRO FORMA BALANCE SHEET Actual Identified Pro-forma $M Offer 30 June 2018 acquisitions 30 June 2018 Cash 21.3 21.3 Investment Properties1 1,431.4 56.7 1,488.1 Intangibles 46.0 46.0 Other Assets 49.9 49.9 Total Assets 1,548.6 56.7 - 1,605.3 Debt2 596.4 60.0 (171.5) 484.9 Other Liabilities 61.9 61.9 T
Slide 8: Timetable
TIMETABLE EVENT DATE Trading halt and announcement of Institutional Placement and Entitlement Offer 22 August 2018 Institutional Placement and institutional component of the Entitlement Offer (together the “Institutional Offer”) opens 22 August 2018 Institutional Offer Closes 23 August 2018 Trading
Slide 9: Key Investment Risks
KEY INVESTMENT RISKS Investors should carefully consider the risk factors described below, in addition to the other 1.6 Property liquidity information in this document and publicly available information of NSR, before making an NSR may be required to dispose of some of its property assets in respons
Slide 10: Key Investment Risks Cont'd
KEY INVESTMENT RISKS CONT’D 1.12 Banking obligation risk performance of Stapled Securities provides no guidance as to the future performance of Stapled NSR is subject to a number of undertakings and financial covenants under its current debt facility Securities (including the New Securities). arrang
Slide 11: Key Investment Risks Cont'd
KEY INVESTMENT RISKS CONT’D 2.0 General market and regulatory risks 2.6 Changes in law 2.1 Economic and market conditions Changes in law, government legislation, regulation and policy in jurisdictions in which NSR operate NSR may be adversely impacted by many factors including fluctuations in genera
Slide 12: International Offer Restrictions
INTERNATIONAL OFFER RESTRICTIONS This document does not constitute an offer of new stapled securities ("New Securities") of NSR in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Securities may not be offered or sold, in
Slide 13: International Offer Restrictions Cont'd
INTERNATIONAL OFFER RESTRICTIONS CONT’D Switzerland These resale restrictions may in some circumstances apply to resales of the New Securities outside The New Securities may not be distributed in Switzerland and will not be listed on the SIX Swiss Canada and, as a result, Canadian purchasers should
Slide 14: International Offer Restrictions Cont'd
INTERNATIONAL OFFER RESTRICTIONS CONT’D Canada (British Columbia, Ontario and Quebec provinces) Cont’d Section 138 of the Securities Act (Ontario) provides that no action shall be commenced to enforce In the United Kingdom, this document is being distributed only to, and is directed at, persons (i)
Slide 15: Thank You
THANK YOU WWW.NATIONALSTORAGE.COM.AU INVEST@NATIONALSTORAGE.COM.AU
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