2021 Financial Guidance
Strong Financial Position
Diversified Sources of Capital
($ millions)
Common Equity,²
$3,549
$771mn
Highlights
Liquidity5,6
Credit Facilities,
$2,867
$622mn
Funds from Operations (TTM) 5,7
BBB-
Senior Secured Rating8
Preferred Equity, $833
Unsecured Notes, $80
Capital Leases,³ $880
Fairfax Notes, $600
Exchangeable
Notes, $201
Capitalization5
($ millions)
~$11.0bn Gross Contracted Cash Flow⁹
Global Syndicate of Supportive Lenders
2. 交通銀行 招商银行
BANK OF COMMUNICATIONS
CHINAMERCHANTS BANK
cíti
SMBC
SUMITOMO MITSUT
BANKING CORPORATION
Dec-20
Coupon/Dividend/Interest¹
Common Equity²
3,549
3.5%
Preferred Equity
833
8.1%
CREDIT SUISSE
Total Equity
$4,382
BMOM
ID
Fairfax Notes
600
5.5%
Unsecured Notes
80
7.1%
Commonwealth Bank
兆豐國際商業銀行
Exchangeable Notes
201
3.8%
ABN AMRO
ING
Bank of America
Credit Facilities
2,867
2.3%
Capital Leases³
國泰世華銀行
Cathay United Bank
880
3.1%
Total Debt
Less: Cash
$4,628
BNP PARIBAS
(343)
Total Net Debt
Total Capitalization
$4,285
$9,010
呂 中国工商银行
INDUSTRIAL AND COMMERCIAL BANK OF CHINA
..DekaBank
J.P.Morgan
DNB
WELLS
FARGO
Q THE EXPORT-IMPORT BANK OF CHINA
1. Dividend on common equity based on $0.50 annual dividend to closing price of $14.38 as of March 8,
2021; dividend on preferred shares represents weighted average stated dividend rate; interest rate on
debt represents weighted average all-in interest rate during the year
2. Based on market closing prices of $14.38 as of March 8, 2021, with 246.8mn shares outstanding
3. Capital leases are disclosed as "Other Financing Arrangements" within Atlas' consolidated financials
4. Includes cash and cash equivalents and restricted cash
5. As of December 31, 2020
6. Total cash & cash equivalents plus total available undrawn committed revolving facilities
7. See Q4 2020 earnings release for non-GAAP reconciliations to nearest GAAP measure
8. Kroll Bond Rating Agency (KBRA) rated Seaspan's Portfolio Financing Program BBB- and provided
Corporate Rating of BB
9. As of December 31, 2020; pro-forma for newbuild containership orders for 31 vessels announced on
December 7, 2020, February 8 and 12, and March 4 and 8, 2021, and 2 secondhand vessel acquisitions
announced March 2, 2021. Gross contracted cash flow includes $4.2 billion of lease payments receivable
from operating leases, $0.9 billion of minimum lease receivable from finance leases, as well as $5.9
billion lease payments to be received from undelivered vessels. Includes cash flows expected from
signed charter agreements on undelivered vessels, excluding purchase options, extension options,
higher charter rate options and profit-sharing components
A
11View entire presentation