Singapore Airlines Ltd. · SGX:C6L
Singapore Airlines — Investor Presentation (May 2021)
17 slides from Singapore Airlines's investor presentation, May 2021
Slide 1: Rights Issue of Mandatory Convertible Bonds (Rights 2021 MCBs)
Rights Issue of Mandatory Convertible Bonds (Rights 2021 MCBs) Company Presentation May 2021
Slide 2: Contents
NOT FOR DISTRIBUTION IN THE UNITED STATES Contents 1 Rationale and Use of Proceeds 2 Summary of Proposed Offering 3 Pro Forma Financial Effects 4 Indicative Timeline While the C ompany has taken reasonable actions to ensure that the information is reproduced in its proper form and context and that t
Slide 3: Rationale: International Air Travel Remains Severely Constrained
NOT FOR DISTRIBUTION IN THE UNITED STATES Rationale International Air Travel Remains Severely Constrained and Recovery Trajectory is Unclear ✓ COVID-19 pandemic has led to a global collapse in demand for air travel ▪ Without a domestic segment, the Group is vulnerable to restrictions on free movemen
Slide 4: Fortifying the Group's Balance Sheet to Recover From a Position of Strength
NOT FOR DISTRIBUTION IN THE UNITED STATES Rationale Fortifying the Group’s Balance Sheet to Recover From a Position of Strength ✓ Crucial for the Group to have sufficient liquidity to weather the current challenges ▪ Provides resources for growth as SIA navigates through the ongoing COVID-19 crisis
Slide 5: Shareholders Can Participate in the Recovery and Future Growth of the SIA Group
NOT FOR DISTRIBUTION IN THE UNITED STATES Rationale Shareholders Can Participate in the Recovery and Future Growth of the SIA Group ✓ Rights 2021 MCB Holders will be entitled to a yield that accretes and is payable at the point of any redemption ▪ Rights 2021 MCBs may be redeemed at the option of SI
Slide 6: Use of Proceeds
NOT FOR DISTRIBUTION IN THE UNITED STATES Use of Proceeds The net proceeds from the Rights 2021 MCBs will be utilised for the following purposes Percentage of Purpose Amount Use of Proceeds Proceeds Operating cashflow S$2.0 billion 32% To fund fixed costs and other operating expenses To fund aircraf
Slide 7: Contents
NOT FOR DISTRIBUTION IN THE UNITED STATES Contents 1 Rationale and Use of Proceeds 2 Summary of Proposed Offering 3 Pro Forma Financial Effects 4 Indicative Timeline While the C ompany has taken reasonable actions to ensure that the information is reproduced in its proper form and context and that t
Slide 8: Summary of Proposed Offering: Key Terms – Rights 2021 MCBs
NOT FOR DISTRIBUTION IN THE UNITED STATES Summary of Proposed Offering Key Terms – Rights 2021 MCBs Renounceable Rights Issue of 2021 MCBs Issue Size Approximately S$6.2 billion Issue Price S$1.00 for each S$1.00 in principal amount of the Rights 2021 MCBs Maturity Date 8 June 2030 Coupon Zero coupo
Slide 9: Rights 2021 MCBs – Redemption and Conversion
NOT FOR DISTRIBUTION IN THE UNITED STATES Summary of Proposed Offering Rights 2021 MCBs – Redemption and Conversion Redemption in Cash or Conversion Redemption Price of Rights 2021 MCBs into Shares Yield to Call 4% 5% 6% (per annum) Semi-Annual Date Expected Dates(1) 100.000 100.000 100.000 1st 24 D
Slide 10: Rights 2021 MCBs – Redemption and Conversion - Illustration
NOT FOR DISTRIBUTION IN THE UNITED STATES Summary of Proposed Offering Rights 2021 MCBs – Redemption and Conversion - Illustration ✓ Redemption prices are calculated based on (i) the Semi-Annual Date that the Rights 2021 MCBs are redeemed and (ii) respective annual yield to call, compounded on a sem
Slide 11: Shareholders' Approval and Major Shareholder's Undertaking
NOT FOR DISTRIBUTION IN THE UNITED STATES Summary of Proposed Offering Shareholders’ Approval and Major Shareholder’s Undertaking ▪ Shareholders approved the issuance of additional MCBs at the April 2020 EGM, and the approval was subsequently renewed at the July 2020 AGM ▪ Tembusu Capital Pte Ltd (“
Slide 12: Contents
NOT FOR DISTRIBUTION IN THE UNITED STATES Contents 1 Rationale and Use of Proceeds 2 Summary of Proposed Offering 3 Pro Forma Financial Effects 4 Indicative Timeline While the C ompany has taken reasonable actions to ensure that the information is reproduced in its proper form and context and that t
Slide 13: Pro Forma Financial Effects of the Rights 2021 MCBs
NOT FOR DISTRIBUTION IN THE UNITED STATES Pro Forma Financial Effects Pro Forma Financial Effects of the Rights 2021 MCBs(1) Net Tangible Assets per Share(2) Net Gearing(4) FY2020/21 Earnings/(Loss) per Share (EPS) as at 31 Mar 2021 (S$) as at 31 Mar 2021 (Singapore cents) 7.35 7.25 5.26 After the R
Slide 14: Contents
NOT FOR DISTRIBUTION IN THE UNITED STATES Contents 1 Rationale and Use of Proceeds 2 Summary of Proposed Offering 3 Pro Forma Financial Effects 4 Indicative Timeline While the C ompany has taken reasonable actions to ensure that the information is reproduced in its proper form and context and that t
Slide 15: Indicative Timeline for the Proposed Rights 2021 MCBs Issue
NOT FOR DISTRIBUTION IN THE UNITED STATES Indicative Timeline Indicative Timeline for the Proposed Rights 2021 MCBs Issue Indicative Timeline 28 May 2021, 5.00 pm Record Date for Rights 2021 MCBs; Lodgment of Offer Information Statement (OIS) 2 June 2021 Despatch of OIS Notification Letter and appli
Slide 16: Disclaimer
NOT FOR DISTRIBUTION IN THE UNITED STATES Disclaimer This advertisement has not been reviewed by the Monetary Authority of Singapore. This presentation is not for distribution, directly or indirectly, in or into the United States of America (the “U.S.”) and is not an offer of securities for sale in
Slide 17: Thank You
» SINGAPORE AIRLINES Thank You
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