Citi Investment Banking Pitch Book
Papa Finances (Pro Forma Capitalization)
(in lons, excepper share)
The following capitalization scenarios assume varying purchase prices for 100% of Charlie's public float
(Dolls in milions)
New Reuouer
New Te m Loa
New Bridge Facility / Sealor Notes
Total New Debt
Papa Bank Debt
Commercial Paper
MTN
Seabr Notes Excl MTN
Sen br Discount Notes
Other Debt
Total Existing Debt
Total Debt
Credt Statister
Total Debt
Total EBITDA (2004E)
Bank Debt/ EBITDA
Total Debt/EBITDA
Eit
6/30004
33
$30
0
0
$0
$2,369
72
433
6044
31
156
$9,105
$9, 105
$9,105
3,245
10.0% Premium
Adl
$1,000
3,000
4077
$3,077
(182)
(12)
Pro Form a
6/30/04
$1,000
3,000
4,077
$8,077
$2,187
0
433
6,044
31
156
$8,851
$16,928
Capitalization
$16,928
3,245
20.0% Premium
12x
00x
2.8
5.2
Note: Represents estimated 6/30/04 debt for Charlle and 3/31/04actial debt for Papa.
Adl
$1,000
3,00
4,787
$8,787
(182)
(12)
Pro Form3
6/30/04
$1,000
3,000
4,787
$8,787
$2,187
0
433
6,044
31
156
$8,851
$17.638
$17,638
3,245
12x
5.4
30.0% Premium
Adl
$1,000
3,00
5,499
$9,499
(182)
(12)
Pro Forma
6/30/04
$1,000
3,000
5,199
$9,499
$2,187
0
433
6,044
31
156
$8,851
$13,350
$18,350
3,245
12x
5.7
40.0% Premlum
---------
Pro Form 3
6/30/04
Adl
$1,000
3,000
6,211
$10,211
(182)
(72)
$1,000
3,000
6,211
$10,211
$2,187
0
433
6,044
31
156
$8,851
$19,062
$19,052
3,245
12x
5.9
DRAFT
29-Jun-04
Citigroup]View entire presentation