Bank of America Investment Banking Pitch Book
Executive Summary
Transaction Sources & Uses
4
Sources
First Lien TL
Second Lien
Equity - CSC
Equity Rollover
Total Sources
$
$290
150
170
20
$630
% of Total
46.0%
23.8%
27.0%
3.2%
100.0%
Source: Court Square (including based on data provided by Pioneer Management).
Note: Dollars in millions
LTM EBITDA (1)
Multiple
3.6x
1.9x
2.1x
0.3x
7.9x
IOX For more investment banking materials, visit www.10xebitda.com
Uses
Equity Purchase Price (Diluted)
Refinanced Est. Net Debt at Close (2)
Financing Fees & OID
Other Fees & Expenses
Total Uses
(1) LTM EBITDA of $80mm os of June 30, 2014 includes adjustments related to Loss on Sola and Other Expenses, M&A expenses, Tres Amigos rasarves, California Job Losses, Severance, and Public Company Costs.
Reflects Company payment of FY2014 bonus from cash flow pre-close.
(2)
(3)
Includes estimated PIONEER deal costs (BogAML fee and legal and other expenses) and estimated CSC deal costs (legal, Bain, Ernst & Young, printing, rating agencies and insurance broker fees and expenses)
Bank of America
Merrill Lynch
$
$393
200
17
20
$630
% of Total
62.4%
31.7%
2.7%
3.2%
100.0%View entire presentation