Debt Information

Corporate Borrowing Structure

Debt Information • Corporate Finance Structure

1 Excluded Barminco Subsidiaries
2 Represents excluded AUMS Subsidiaries however AUMS is currently in the process of accession to the Perenti Common Terms Deed

Debt

Debt is generally raised in the name of Perenti or a subsidiary and may be secured or unsecured. Perenti currently has secured and unsecured borrowings in place. Generally, Perenti will approach the Bank, Capital Markets and Asset Financiers to fund its operations. In certain circumstances debt may be raised directly by a subsidiary or joint venture and will have separate security arrangements and financial covenants. Debt is raised in AUD and USD, however, may be raised in other currencies if required.

Credit Facilities/Loans

Perenti has revolving cash advance and bank guarantee facilities with its long term relationship banks and non-bank lenders. These banks and non-bank lenders include leading Australian and international banks and non-bank lenders. The term of these facilities are up to four years and the company regards the majority of these facilities as continuing facilities that will be extended on an ongoing basis as required.

Asset Finance

In addition to revolving credit facilities/loans and capital markets supporting general corporate purposes, Perenti finances its fleet via Hire purchases and lease facilities which are secured by the specific assets financed. Perenti diversifies its leasing exposure to any one provider, reducing finance risk

Debt Capital Market
Regulation S / 144A
Amount
CouponInsuranceMaturityTenorISINDocument
US350,000,0006.625%26 April 201715 May 20225 years144A (US067687AC70)
Reg.S (USQ13095AB23)
2017 Barminco Offering Circular
Financial Covenants

Perenti’s financing facilities contain undertakings including an obligation to comply at all times with certain financial covenants which require the Group to operate within certain financing ratio threshold levels as well as ensuring that subsidiaries that contribute minimum threshold amounts of EBITDA and Total Assets are guarantors under various facilities.