Ashtead Group Results Presentation Deck
ROBUST AND FLEXIBLE DEBT STRUCTURE
$5,000m
$4,000m
$3,000m
$2,000m
$1,000m
12
$m
FY22 FY23 FY24 FY25 FY26 Aug
Aug
May Nov FY31
2026 2027 2028 2029
$550m $600m $600m $600m
Half year results | 31 October 2021
Undrawn
Drawn
Notes
Aug
2031
$750m
▪ In August, refinanced $600m 4.125% notes and
$600m 5.25% notes with two investment grade notes:
$550m 1.5% notes due 2026
$750m 2.45% notes due 2031
and closed increased $4.5bn ABL facility and extended maturity
to August 2026
■
Refinancing delivers annual interest saving of $30m
Early redemption of $1.2bn notes gave rise to non-recurring
charges of $47m in the second quarter relating to call premium
and write off of deferred financing costs
Subsequent to refinancing, facilities committed for average of
6 years at a weighted average cost of less than 3%
▪ No financial monitoring covenants whilst availability exceeds
$450m (October 2021: $3,033m)
Ashtead
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