Debt investor slide package Q3 2014 Corporate Finance & Treasury Capital Markets Bank Relationship
Š 2014 Holcim Ltd
Financial debt, maturities and liquidity as of September 30, 2014 Maturity profile1 (mCHF)
Liquidity summary • Cash + marketable securities: CHF 1,957 million
4'000 Loans
Capital markets
• Cash + marketable securities + unused committed credit lines: CHF 5,680 million
3'000 Debt summary 2'000
• Current financial liabilities1: CHF 2,746 million • Fixed to floating ratio: 55% to 45%
1'000
• Capital markets 78%; Loans 22% • Corporate vs. subsidiary debt: 79% to 21%
0 <1y 1-2y 2-3y 3-4y 4-5y 5-6y 6-7y 7-8y 8-9y 9-10y>10y 1
After risk-related adjustments of CHF 392 million from current financial liabilities to long-term financial liabilities
• Ø total maturity: 5.0 years • CP borrowings: CHF 378 million • No financial covenants in Corporate credit lines ST/LT ratings summary as of November 3, 2014 • S&P Credit Rating:
A-2 / BBB, outlook stable
• Fitch Credit Rating:
F2 / BBB, outlook stable
• Moody’s Credit Rating: P-2 / Baa2, outlook negative
© 2014 Holcim Ltd
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Overall debt reduced by CHF 6.3 billion since 2008 Share of capital market financing at 78% Financial liabilities CHF million
Share of capital market financing
20'000
100%
16'000
80%
12'000
60%
8'000
40%
4'000
20%
0
0% YE 2008
2009
2010
2011
2012
2013
Q3 2014
Loans Capital markets Share of capital market financing (r.h. scale)
Š 2014 Holcim Ltd
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Access to a wide range of capital markets – only CHF 0.7 bn of capital markets instruments maturing until year-end 2014 Capital markets funding distribution as per Q3 2014 THB Bond EUR CPs CRC Bonds USD IRBs CAD PP MAD Bond INR PP CAD Bond USD PPs MXN Bonds USD CPs
Date
CHF Bonds
28%
AUD Bonds 6% GBP Bonds
23% USD Bonds
CHF m
Currency
Oct-14 Dec-14
5 INR 320 m 724 EUR 600 m
Mar-15 Apr-15 Jul-15 Nov-15 Dec-15
314 250 16 36 163
May-16 Jun-16 Aug-16
252 GBP 163 m 531 CHF 475 m, MXN 800 m 119 USD 125 m
7%
16% EUR Bonds
Capital market maturities Q3 2014 – 2016
AUD 250 m, MXN 1.5 bn CHF 250 m CRC 10 bn THB 1.2 bn MAD 1.5 bn
Corporate Holdings Operating Company
© 2014 Holcim Ltd
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Average maturity substantially increased to 5.0 years with long-dated bonds in USD, EUR and CHF Major capital market transactions since January 1, 2013
Amendment and extension EUR 2.0 bn Syndicated Revolving Committed Credit Facility
USD 50 m bond (20 years)
USD 500 m bond (10 years) USD 250 m bond (30 years)
EUR 500 m bond (10 years) CHF 250 m bond (8.5 years)
Average maturity of financial liabilities (in years)
5.5 5.0
MXN 2.0 bn bond Target (4 years)
4.5 4.0 3.5 3.0 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 05 06 07 08 09 10 11 12 13 Š 2014 Holcim Ltd
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Disclaimer Cautionary statement regarding forward-looking statements This presentation may contain certain forward-looking statements relating to the Groupâ&#x20AC;&#x2122;s future business, development and economic performance. Such statements may be subject to a number of risks, uncertainties and other important factors, such as but not limited to (1) competitive pressures; (2) legislative and regulatory developments; (3) global, macroeconomic and political trends; (4) fluctuations in currency exchange rates and general financial market conditions; (5) delay or inability in obtaining approvals from authorities; (6) technical developments; (7) litigation; (8) adverse publicity and news coverage, which could cause actual development and results to differ materially from the statements made in this presentation. Holcim assumes no obligation to update or alter forward-looking statements whether as a result of new information, future events or otherwise.
Š 2014 Holcim Ltd
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