Americold Key Investment Highlights & ESG Initiatives
Well-Laddered Balance Sheet with Significant Liquidity
Real Estate Debt Maturity (1)
% of Debt Maturing
6% (28%) (15%) (13%) (11%) (14%)
(12%)
Revolver Balance (2)
$500
Senior Unsecured Term Loan A-1 (3) 18
Senior Unsecured Term Loan A-2 (CAD)
■Senior Unsecured Term Loan A-3
■Series A 4.68% Unsecured Notes due 2026
■Series B 4.86% Unsecured Notes due 2029
■Series C 4.10% Unsecured Notes due 2030
■Series D 1.62% Unsecured Notes due 2031
■Series E 1.65% Unsecured Notes due 2033
Total Debt Profile
Investment grade ratings: BBB (Fitch / DBRS Morningstar), Baa3 (Moody's)
Debt Type
$249
Secured
7%
TOTAL
DEBT
$3.3bn
$184
93%
$3,082
Unsecured
$375
$400
$428
$350
$375
$270
$200
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
2033 2034
Liquidity
Significant Liquidity: ~$0.7bn (4)
$2,831
Fixed
Rate Type
TOTAL
DEBT
$500
Floating
15%
$3.3bn
85%
As of December 31, 2022, COLD has total debt outstanding of $3.3 billion
COLD transitioned its balance sheet to 93% unsecured and 85% fixed rate with a
remaining weighted average term of 6.2 years
Paid off final legacy Secured 2013 CMBS debt using the $270mm delayed draw term
loan from August 2022 Recast
No material debt maturities until 2026
-
$629mm Undrawn Senior
Unsecured Revolving Credit
Facility
93%
TOTAL
LIQUIDITY
Interest Rate: Base Rate +
85 bps
$0.7bn
7%
Cash
$49
Minimal near-term debt
maturities
COLD maintains a strong liquidity position and a well-laddered maturity profile
(1)
Note: Dollars in millions. Figures based on company filings as of December 31, 2022. Balances denominated in foreign currencies have been translated to USD. Figures may not sum due to rounding
Does not include sale-leaseback financing obligations or financing lease obligations
(2)
Revolver maturity date assumes the exercise of two six month extension options
(3)
Term Loan maturity date assumes the exercise of two 12-month extension options
(4)
Figure reflects cash and the capacity available under the Senior Unsecured Revolving Credit Facility less $22mm in letter of credit and $4mm of restricted cash
Revolver
Availability
$629
19
americOLO®View entire presentation