1H 2013 Earnings Presentation
Bank Debt Covenant Compliance
Gross Debt/ EBITDA
4.0x
3.5x
3.0x
2.8x
2.5x
2.0x
1.5x
1.0x
0.5x
0.0x
Leverage1
Compliant
(as of 30 June 2013)
9.0x
4.0x Max.
7.7x
8.0x
Leverage Ratio (per amendment dated 29 June
2013):
EBITDA / Interest
7.0x
6.0x
Reporting Period
Maximum Leverage Ratio
30-Jun
31-Dec
5.0x
2013
4.00x
4.75x
4.0x
2014
4.75x
4.00x
3.0x
3.0x Min.
2015
4.00x
3.50x
2.0x
2016
3.50x
1.0x
0.0x
Interest Cover
Exploring alternative funding options to provide enhanced covenant flexibility
➤ Focused on ensuring the Company has adequate liquidity to manage the business in the ordinary course.
despite market uncertainty
➤ Also focused on ensuring ongoing covenant compliance
Engaged with bank lending group to finalize refinancing alternatives and will update the market at the
appropriate time
BOART LONGYEAR
1 At 30 June includes $14.8M of contingent liabilities. An additional - $24M of contingent liabilities
was posted in August 2013
1H 2013 Earnings Presentation 15View entire presentation