Citi Investment Banking Pitch Book
How Much Capital Could Be Required?
(Dollars in milions, excepts lock price)
Stock Prbe
Purch13 Price
(Dollars in millions, excepls lock price)
Stock Prbe
Purch13 Price
Fees
New Capital Required
Existig Indebtedness
Total Indebtedne [3]
Total Indebtedness /2004E EBITDA
Target Indebtedness for lau. Grade (5.0)
Target Indebtedness for hau. Grade (1.50)
Target Indebtedness for lau. Grade (4.0)
Charlie
Equit: Capital Required for hnitment Grade (5.0)
Equit Capital Required for investment Grade (4.5:)
Equit: Capital Required for hw itment Grade (4.0)
10.0%
Fees
New Capital Required
Exktag Indebtedness
Total Indebtedne (3)
Total Indebtedness /2004E EBITDA
Target Indebtedness or lau. Grade (5.0)
Target Indebtedness for lau. Grade (4.5)
Target Indebtedness for hau. Grade (4.00)
Equit Capital Required for hvitment Grade (5.00)
Equit: Capital Required for investment Grade (4.5%)
Equit: Capital Required for investment Grade (4.0)
Pro Toma lokal Ihndebledress does nolequel sum ofrewcapld required and exis ng Indeb ledress due lo redemption of in the ruments.
Papa & Charlie
$30.80
$33.60
$7,439
$8,115
208
227
$7,647
$8,342
$5,736
$5,736
$14,555 $15,265
$2,260
3,490
4,719
10.0%
59x
62x
6.5x
$12,295 $12,295 $12,295
11,056 11,056
11,056
9,836
9,836
9,836
$30.80
$7,397
207
$7,60 4
$9,105
$16,928
Purchase Premium
20.0%
52x
$16,225
14,602
12,960
$704
2,326
3,949
$2,970
4,200
5,429
30.0%
$36.40
$8,79 1
246
$9,037
$5,736
$15,977
$33.60
$8,070
226
$8,296
$9,105
$17.638
5.4x
$16,225
14,602
12,960
$1,413
3,036
4,658
Purchia e Premium
20.0%
$3,682
4,911
6,141
30.0%
$36.40
$8,742
245
$8,987
5.7x
40.0%
$16,225
14,602
12,960
$39 20
$9,467
255
$9,732
$5,736
$16,689
6.8x
$12,295
11,056
9,836
$2,125
3,747
5,370
$4,394
5,623
6,853
40.0%
$9,105
$9,105
$18,350 $19,062
59x
$16,225
14,602
12,960
$39 20
$9,415
253
$9,67 8
$2,837
4,460
6,032
(20) Pro forma lo Indebledness does not equal sum ofrew capll required and exting deb ledress due lo redemplonofante ruments.
37
DRAFT
29-Jun-04
Citigroup]View entire presentation