Lowen Play GmbH
06/30/2021 |
EBITDA Multiple |
|||||||
---|---|---|---|---|---|---|---|---|
(EUR in Millions) |
Amount |
Price |
Mkt. Val. |
Maturity |
Rate |
Yield |
Book |
Market |
|
||||||||
Finance Leases Machines |
35.1 |
|
35.1 |
|
|
|
||
Total Finance Leases Machines |
35.1 |
35.1 |
3.3x |
3.3x |
||||
€40M Senior Secured RCF 1 |
40.0 |
|
40.0 |
Aug-2022 |
E/L + 2.750% |
|
||
Total Super Senior RCF |
40.0 |
40.0 |
7.1x |
7.1x |
||||
€350M SSN - Safari Verwaltungs |
350.0 |
95.4 |
333.8 |
Nov-30-2022 |
5.375% |
7.974% |
||
Total Senior Secured Bond |
350.0 |
333.8 |
40.1x |
38.6x |
||||
Leases buildings (IFRS 16) |
130.1 |
|
130.1 |
|
|
|
||
Total Leases buildings (IFRS 16) |
130.1 |
130.1 |
52.4x |
50.8x |
||||
Subordinated Shareholder loan |
188.9 |
|
188.9 |
|
|
|
||
Total Shareholder Loan |
188.9 |
188.9 |
70.2x |
68.7x |
||||
Total Debt |
744.1 |
727.9 |
70.2x |
68.7x |
||||
Less: Cash and Equivalents |
(84.7) |
(84.7) |
||||||
Plus: Restricted Cash |
11.4 |
11.4 |
||||||
Net Debt |
670.8 |
654.6 |
63.3x |
61.8x |
||||
Operating Metrics |
||||||||
LTM Revenue |
111.5 |
|||||||
LTM Reported EBITDA |
10.6 |
|||||||
|
||||||||
Liquidity |
||||||||
RCF Commitments |
40.0 |
|||||||
Less: Drawn |
(40.0) |
|||||||
Plus: Cash and Equivalents |
84.7 |
|||||||
Less: Restricted Cash |
(11.4) |
|||||||
Total Liquidity |
73.3 |
|||||||
Credit Metrics |
||||||||
Gross Leverage |
70.2x |
|||||||
Net Leverage |
63.3x |
|||||||
Notes:
Restricted cash refers to cash in cash boxes and tube filling. LTM EBITDA is the reported EBITDA post IFRS 16. 1. The group fully drew the RCF on March 24, 2020. Notes & RCF pari passu, in enforcement RCF is super senior. RCF has a leverage covenant of 4.67x tested quarterly under certain circumstances. Interest rate on RCF subject to reduction. |
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