Wintime Energy
09/30/2020 |
EBITDA Multiple |
||||
---|---|---|---|---|---|
(CNY in Millions) |
Amount |
US$ Amt. |
Maturity |
Rate |
Book |
|
|||||
Bank & Other Borrowings |
34,999.1 |
4,999.9 |
|
|
|
Total Bank & Other Borrowings |
34,999.1 |
4,999.9 |
5.9x |
||
13 Wintime Corporate Debt Security 1 |
3,590.0 |
512.9 |
Feb-06-2020 |
9.500% |
|
17 Wintime 004 Commercial Paper 1 |
1,500.0 |
214.3 |
Jul-05-2018 |
7.000% |
|
17 Wintime 005 Commercial Paper 1 |
1,000.0 |
142.9 |
Aug-25-2018 |
7.000% |
|
17 Wintime 006 Commercial Paper 1 |
800.0 |
114.3 |
Oct-23-2018 |
6.780% |
|
17 Wintime 007 Commercial Paper 1 |
1,000.0 |
142.9 |
Dec-15-2018 |
7.000% |
|
18 Wintime 001 Commercial Paper 1 |
1,000.0 |
142.9 |
Jan-22-2019 |
7.000% |
|
18 Wintime 002 Commercial Paper 1 |
1,000.0 |
142.9 |
Mar-19-2019 |
7.000% |
|
18 Wintime 003 Commercial Paper 1 |
1,000.0 |
142.9 |
Apr-26-2019 |
7.000% |
|
16 Wintime 001 Corporate Bond 2 |
760.0 |
108.6 |
Mar-30-2022 |
4.750% |
|
16 Wintime 002 Corporate Bond 2 |
1,390.0 |
198.6 |
Jul-01-2019 |
4.750% |
|
16 Wintime 003 Corporate Bond 2 |
1,850.0 |
264.3 |
Jul-07-2019 |
7.500% |
|
17 Wintime 001 Private Placement Note 1 |
350.0 |
50.0 |
Aug-18-2020 |
7.700% |
|
17 Wintime 002 Private Placement Note 1 |
180.0 |
25.7 |
Nov-15-2020 |
7.700% |
|
17 Wintime 003 Private Placement Note 1 |
100.0 |
14.3 |
Dec-22-2020 |
7.900% |
|
18 Wintime 001 Private Placement Note 1 |
100.0 |
14.3 |
Mar-29-2021 |
7.900% |
|
15 Wintime 001 Medium Term Note 1 |
1,400.0 |
200.0 |
Oct-22-2020 |
6.180% |
|
15 Wintime 002 Medium Term Note 1 |
1,400.0 |
200.0 |
Nov-27-2020 |
7.500% |
|
17 Wintime 001 Medium Term Note 1 |
1,000.0 |
142.9 |
Nov-16-2020 |
7.500% |
|
17 Wintime 002 Medium Term Note 1 |
1,000.0 |
142.9 |
Dec-06-2020 |
7.500% |
|
18 Wintime 001 Medium Term Note 1 |
500.0 |
71.4 |
Apr-04-2021 |
7.500% |
|
Total Onshore Bonds |
20,920.0 |
2,988.6 |
9.4x |
||
$500M 6.625% Senior Bonds Due 2020 |
3,500.0 |
500.0 |
May-18-2020 |
6.630% |
|
Total Offshore Bonds |
3,500.0 |
500.0 |
9.9x |
||
Total Debt |
59,419.1 |
8,488.4 |
9.9x |
||
Less: Cash and Equivalents |
(1,644.6) |
(234.9) |
|||
Plus: Restricted Cash |
544.7 |
77.8 |
|||
Net Debt |
58,319.2 |
8,331.3 |
9.8x |
||
Plus: Market Capitalization |
17,023.3 |
2,431.9 |
|||
Enterprise Value |
75,342.5 |
10,763.2 |
12.6x |
||
Operating Metrics |
US$ Amt. |
||||
LTM Reported EBITDA |
5,973.0 |
853.3 |
|||
|
|||||
Liquidity |
|||||
Plus: Cash and Equivalents |
1,644.6 |
234.9 |
|||
Less: Restricted Cash |
(544.7) |
(77.8) |
|||
Total Liquidity |
1,099.9 |
157.1 |
|||
Credit Metrics |
|||||
Gross Leverage |
9.9x |
||||
Net Leverage |
9.8x |
||||
Notes: Sources: Reorg, company filings, Wind; restricted cash and EBITDA are H1 2020 figures 1. In default due to failure to meet interest payment 2. Have paid all interest and maturity extended US$ Translation: CNY/USD rate used for USD conversion is 7. |
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