Q2 2021 Financial Results
Debt and Liquidity Summary
Capitalization
($ in millions)
Cash and Cash Equivalents
Debt:
Interest
Variable
Variable
Revolver ($550 million capacity) (1)
First Lien Term Loan (USD)
Total Senior Secured Debt
Senior Unsecured Notes (EUR) (3)
Senior Unsecured Notes (USD)
Senior Unsecured Notes (USD)
Finance Leases
Other Borrowings
Total Debt
Total Net Debt (4)
LTM Adjusted EBITDA
(5)
Total Net Leverage
Interest Coverage Ratio (6)
(1) $516 million available on our undrawn revolver net of letters of credit
(2) Maturity will be accelerated to 2024 in certain circumstances as
set forth in Amendment No. 10
Fixed
Fixed
Fixed
$
@ 6/30/2021
1,231
LA
LA
(3) Assumes exchange rate of $1.1906 USD/Euro
(4) Total Net Debt = Total Debt minus Cash and Cash Equivalents
(5) Total Net Leverage = Total Net Debt / LTM Adjusted EBITDA
(6) Interest Coverage Ratio = LTM Adjusted EBITDA / LTM Interest Expense
2,037
2,037
531
493
690
63
40
3,854
2,623
992
2.6x
6.9x
Maturity
20262
2024
2025
2027
2029
I
I
Commentary
Net leverage of 2.6x at June 30, 2021 improved
from 3.2x at March 31, 2021
Over $1.7 billion in available liquidity at June 30,
2021
Increased revolving credit facility capacity to
$550 million from $400 million in May 2021
Weighted average cost of debt of 3.08% at June
30, 2021
12
A
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