Growthpoint Properties Limited · JSE:GRT

Growthpoint Properties — Debt Investor Presentation (November 2015)

15 slides from Growthpoint Properties's debt investor presentation, November 2015

  1. Slide 1: Fixed Income Investor Presentation

    FIXED INCOME INVESTOR PRESENTATION November 2015 GRUNDFOS, GAUTENG

  2. Slide 2: General Update

    GENERAL UPDATE RETAIL OFFICE INDUSTRIAL V & A WATERFRONT GOZ THE OVAL, WESTERN CAPE

  3. Slide 3: Planned Investment Activity

    3 PLANNED INVESTMENT ACTIVITY Healthy pipeline of accretive investments Investment activity In R’ million Developments 1 211 Refurbishment capital 446 expenditure Acquisitions 143 Disposals -247 V&A funding 421 Total 1 974

  4. Slide 4: Funding Sources

    4 FUNDING SOURCES Diversified sources of funding Equity: Continued support for the Distribution Re-Investment Plan Date Amount % support Mar 2014 R1 046m 66% Sep 2014 R1 022m 55% Mar 2015 R1 220m 63% Apr 2015 R444m 42% Sep 2015 R483m 41% Debt:  Committed unutilised facilities of R4,1 billion (Jun

  5. Slide 5: RSA Diversified Borrowings – Nominal Value

    5 RSA DIVERSIFIED BORROWINGS – NOMINAL VALUE Rm 30 000 25 444 25 000 Debt capital 400 market 2 659 Unsecured 12.0% 20 000 4 480 29.6% 16 499 2 053 Debt capital 400 15 000 12 468 market 3 909 Unsecured Debt capital 26.1% 37.0% Traditional 400 1 796 market Unsecured bank debt 10 000 3 010 1 450 Secure

  6. Slide 6: Loan to Value and Interest Cover Ratios

    6 LOAN TO VALUE AND INTEREST COVER RATIOS RSA GOZ² GROUP % times % times % times 50 10 50 10 50 10 46.6% 40.6% 40 8 40 8 40 8 36.8% 33.2% 32.1% 30.8% 29.6% 30 27.4% 6 30 6 30 6 23.9% 20 4 20 4 20 4 10 2 10 2 10 2 3.2x 3.5x 3.4x 2.4x 2.9x 3.7x 2.9x 3.3x 3.4x 0 0 0 0 0 0 FY13 FY14 FY15 FY13 FY14 FY15

  7. Slide 7: Debt Expiry Profile per Financier (%)

    7 DEBT EXPIRY PROFILE PER FINANCIER (%) % 25 23 23 20 17 15 10 10 9 8 7 5 3 0 0 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 ABSA China Construction Bank Investec JSE LibFin Nedbank OMSFIN RMB Sanlam Standard Bank

  8. Slide 8: Fixed Interest Rate Expiry Profile RSA (%)

    8 FIXED INTEREST RATE EXPIRY PROFILE RSA (%) % 30 25 20 15 10 5 24 3 15 15 15 11 13 0 0 4 0 Floating FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24

  9. Slide 9: Loan Exposure per Financier (%)

    9 LOAN EXPOSURE PER FINANCIER (%) Nedbank 3 11 5 RMB 5 Standard Bank 34 7 JSE OMSFIN 12 Investec LibFin ABSA 12 Sanlam 20 China Construction Bank

  10. Slide 10: Financial Risk Assessment

    10 FINANCIAL RISK ASSESSMENT Upgrade of Moody’s credit rating Moody’s rating Long- Short- term term National scale A1.za P-1.za rating Global scale Baa2 P2 rating Outlook Stable Debt metrics For South Africa FY1 FY1 5 4 Weighted average term of liabilities (years) 2.9 3.5 Weighted average term of fi

  11. Slide 11: Bond Spreads

    11 BOND SPREADS Issue spread versus bond spread

  12. Slide 12: Bond Overview

    12 BOND OVERVIEW Bond funding across the curve Bond Maturity Size Issue spread Spread as at 23 Oct 15 GPT34 11 Nov R400 39 39 15 m GRT02 13 May R500 134 90 16 m GRT04 15 Sep R260 150 90 16 m GRT06 11 Dec R500 150 150 17 m GRT09 15 Oct 18 R500 150 150 R1 250 million repaid duringm FY15 GRT08 24 Jun 1

  13. Slide 13: Future Funding Requirements

    13 FUTURE FUNDING REQUIREMENTS Envisaged debt capital market funding plan for FY16:  Roll of R400m Commercial Paper  Roll of GRT02 R500m in May 2016  Possible re-financing of bank debt maturing in May 2016

  14. Slide 14: Thank You

    THANK YOU DELOITTES, KWAZULU- NATAL

  15. Slide 15: Growthpoint Properties

    GROWTFEPOINT | PROPERTIES

Growthpoint Properties — Debt Investor Presentation (November 2015) on 6ix