Alstom SA · EURONEXT:ALO

Alstom SA — Corporate Update (August 2003)

15 slides from Alstom SA's corporate update, Aug 6, 2003

  1. Slide 1: Analysts Presentation

    Analysts Presentation August 6, 2003

  2. Slide 2: Disclaimer

    Disclaimer This document is confidential and is being made available to you solely for your information. It may not be reproduced, further distributed to any other person (whether within or outside your organisation) or published, in whole or in part, for any purpose. Any failure to comply with thes

  3. Slide 3: Main features of the financing package

    Main features of the financing package: in € million l Strengthening of the Group’s equity through: 4 Underwritten capital increase* 300 4 Capital increase reserved for the French State 300 4 Underwritten issue of Bonds Mandatorily Reimbursable with shares (ORA)* 900** l New financing 4 Subordinated

  4. Slide 4: Package Summary

    Package Summary in € million State Banks TOTAL Capital increase 300 300* 600 Mand. Conv. Bonds (ORA) 0 900* 900** Subordinated loan 200 1,100 1,300 Total 500 2,300 2,800 *underwritten by banks. Preferential subscription rights reserved to existing shareholders. **may be increased up to €1,000m 4

  5. Slide 5: Capital increase €600m

    Capital increase €600m l €300m with preferential subscription rights or through the issuance of warrants for existing shareholders 4 Underwritten by banks l €300m reserved for the French State 4 French State will hold 31.5% of ALSTOM’s shares 4 Major shareholder until the Group’s full recovery l Pri

  6. Slide 6: ORA Structure

    ORA Structure l Terms: 4 Amount: €900m* 4 Price: 1.40€ per bond 4 Coupon: 2% capitalised for the first year 4 Conversion ratio: one share for one ORA 4 Maturity: 31 December 2008 4 Preferential subscription rights for existing shareholders l EGM before end of September for approval l Underwritten by

  7. Slide 7: Subordinated Loans

    Subordinated Loans l Amount: €1,300m l Interest rate per annum: Euribor + 450 bps (of which 150 bps PIK) l Maturity: 6 years l Early repayment allowed at ALSTOM’s option 7

  8. Slide 8: Short-Term Liquidity

    Short-Term Liquidity l Commitments to provide short-term financing: 4 Banks: up to €300m 4 Caisse des Dépôts et Consignations (CDC): up to €300m l This short-term facility will be repaid once the proceeds of T&D disposal received 8

  9. Slide 9: Bonds & Guarantees

    Bonds & Guarantees l Objective To ensure coverage of Alstom’s bonding needs l Structure 4 Implementation of a €3,500m bonding syndicated facility provided by banks 4 65% of each bond counter-guaranteed by the French State 9

  10. Slide 10: Debt maturing by March 04

    Debt maturing by March 04 Maturity Amount l Outstanding bridge facility Dec. 03 140 M€ l Club deal Jan. 04 400 M€ l Bilaterals Jan. 04 75 M€ l Bonds Marc. 04 550 M€ l Syndicated loans April 04 1250 M€ 10

  11. Slide 11: Debt Refinancing Package

    Debt Refinancing Package l Main Purposes: 4 To repay on maturity the €550m bond maturing in February 2004 4 To repay the €1,250m revolving credit facility maturing in April 2004 4 To fund working capital requirements Repayment secured 11

  12. Slide 12: Business update

    Business update l Difficult market conditions prevailing ; consequences accentuated by uncertainties upon ALSTOM’s future 4 adverse impact on profit and cash l Further hit due to additional under provisioned contracts in Transport US with expected impact of up to €100m on H1 2003/04 operating income

  13. Slide 13: Timeline

    Timeline l Implementation of short term facility: Early August l Implementation of syndicated bonding facility: before end August l Signing of T&D sale contract: 15 September l EGM: 24 September l Launch of capital increase and ORA: end of Sept. / early Oct. l Implementation of subordinated loans: e

  14. Slide 14: Forward-Looking Statements

    Forward-Looking Statements This presentation contains, and other written or oral reports and communications of ALSTOM may from time to time contain, forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Exa

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