Credit Suisse Investment Banking Pitch Book
CONFIDENTIAL
IRR Sensitivity
CREDIT FIRST
SUISSE BOSTON
IRR Analysis
Purchase Price
$33.00
$34.00
$35.00
$36.00
$37.00
$38.00
Note Assumes an exit mutiple of 10.0
(1) Aggregate value/2004 PF EBITDA
IRR Analysis
$33.00
$34.00
$35.00
$36.00
$37.00
$38.00
Note: Assumes leverage of 6.5x
(1) Aggregate value/2004 PF EBITDA
5.50x
16.9%
15.3%
13.9%
12.5%
11.3%
10.1%
8.0x
11.5%
9.5%
7.8%
6.2%
4.7%
3.4%
Leverage
Entry Leverage Multiple
6.50x
20.0%
6.00x
18.3%
16.5%
14.8%
13.3%
11.9%
10.6%
Exit Multiple
9.0x
16.1%
17.9%
16.0%
14.3%
12.7%
11.3%
14.0%
12.2%
10.5%
9.0%
7.6%
Exit Multiple
10.0x
20.0%
17.9%
16.0%
14.3%
12.7%
11.3%
7.00x
22.2%
19.7%
17.5%
15.5%
13.6%
12.0%
11.0x
23.5%
21.3%
19.4%
17.6%
16.0%
14.5%
7.50x
25.1%
22.0%
19.3%
16.9%
14,8%
12.9%
12.0x
26.7%
24.4%
22.4%
20,6%
18.9%
17.4%
Implied
Entry Mult
9.4x
9.7x
10.0x
10.3x
10.6x
10.9x
Implied
Entry Mult
9.4x
9.7x
10.0x
10.3x
10.6x
10.9x
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