Debt Presentation as of December 31, 2014

Size: px
Start display at page:

Download "Debt Presentation as of December 31, 2014"

Transcription

1 Debt Presentation as of December 31, 2014

2 Total Debt History (2)(3) Million Dollars (5) (3) 1,151 1,149 1,149 1,153 1, , ,252 1,262 1,258 1,257 1, , ,066 1,075 1,072 1,076 1,092 1,328 1,185 1,171 1,166 1,165 1,151 1,107 Mar'12 Jun'12 Sep'12 Dic'12 Mar'13 Jun'13 Sep'13 Dec'13 Mar'14 Jun'14 Sep'14 Dec'14 Total Debt excluding Accounts Receivable Financing Program Total Accounts Receivable Financing Program (1) Nominal pesos at the end of each period converted into dollars using the exchange rate at the end of each respective period (2) Total net debt includes Net Accounts Receivable Financing Program due to changes in Mexican FRS (3) Consummated the Concurso Plan; issued Notes due 2018 ( Notes 2018 ) and Mandatory Convertible Debentures ( MCDs ) due 2015 (4) As a result of the initiation of Concurso proceedings in the Commercial Courts of Madrid, Vitro Cristalglass, all of its debt was deconsolidated (5) On April 2013, issued New Notes due 2015 to Fintech and on September 2013 announced the redemption of 100% MCDs. 2

3 Total Net Debt History (2)(3) Million Dollars (3) 1, ,083 1,083 1,033 1, , (5) 1, , ,124 1, ,080 1, ,009 1, ,121 1,039 1,071 1,032 1, ,009 Mar'12 Jun'12 Sep'12 Dic'12 Mar'13 Jun'13 Sep'13 Dec'13 Mar'14 Jun'14 Sep'14 Dec'14 Total Accounts Receivable Financing Program net of cash reserves in trusts Total Net Debt excluding Accounts Receivable Financing Program (1) Nominal pesos at the end of each period converted into dollars using the exchange rate at the end of each respective period (2) Total net debt includes Net Accounts Receivable Financing Program due to changes in Mexican FRS (3) Consummated the Concurso Plan; issued Notes due 2018 ( Notes 2018 ) and Mandatory Convertible Debentures ( MCDs ) due 2015 (4) As a result of the initiation of Concurso proceedings in the Commercial Courts of Madrid, Vitro Cristalglass, all of its debt was deconsolidated (5) On April 2013, issued New Notes due 2015 to Fintech and on September 2013 announced the redemption of 100% MCDs. 3

4 Debt Profile as of December 31, 2013 and 2014 Fixed Rate Floating Rate + Fixed Spead Rate Exposure Dec.14 Dec.13 88% 90% 12% 10% Dollars Pesos Currency Exposure (2) Dec.13 Dec.14 91% 91% 9% 9% Banks Market Dec.13 28% 72% Source Dec.14 25% 75% (1) LIBOR and TIIE based rates (2) Since the disincorporation of Vitro Cristalglass operation, its outstanding balance is not included. 4

5 Amortization Schedule (1) Total Debt = US$ 1, Short Term Current Maturities of LT Long Term (1) On February 23, 2012, Vitro consummated the Concurso Plan and completed its debt restructuring issuing its Notes 2018 and MCDs and paid a cash restructuring fee. 5

6 Short Term Debt Schedule (1) Short Term Debt Profile = US$ Jul14 - Sep14 Oct14 - Dic14 Ene15 - Mar15 Abr15 - Jun15 Short Term Market (Short Term) Current Maturities of LT (1) Due to Vitro s accomplishment on the Concurso Plan, all short term debt is operating companies debt. 6

7 Amortization Schedule: Holding +Operating Companies (3) Holding Company 743 Operating Companies Consolidated 747 Short Term Current Maturities of LT Long-Term

8 Net Accounts Receivable Financing Program* Flat Glass US$ 29.3 million Glass Containers US$ 52.1 million Total Net Accounts Receivable Financing Program = US$ 81.4 million *Net of cash reserves included in a trust related to Accounts Receivable Financing Program 8

9 Appendix

10 Detail of Debt Amortization - Consolidated 1Q15 2Q15 3Q15 4Q15 Short Term Debt 2015 Note Notes Long Term Short Term

11 Detail of Debt Amortization - Consolidated Total Note Notes Long Term Short Term ,

12 Detail of Debt Amortization - Holding 1Q15 2Q15 3Q15 4Q15 Short Term Debt 2015 Note Notes Long Term Short Term

13 Detail of Debt Amortization - Holding Total Note Notes Long Term Short Term ,

14 Detail of Debt Amortization - Glass Containers 1Q15 2Q15 3Q15 4Q15 Short Term Debt Long Term Short Term Total Long Term Short Term

15 Detail of Debt Amortization - Flat Glass 1Q15 2Q15 3Q15 4Q15 Short Term Debt Long Term Short Term Total Long Term Short Term

AT&T Global Network Client for Windows Product Support Matrix January 29, 2015

AT&T Global Network Client for Windows Product Support Matrix January 29, 2015 AT&T Global Network Client for Windows Product Support Matrix January 29, 2015 Product Support Matrix Following is the Product Support Matrix for the AT&T Global Network Client. See the AT&T Global Network

More information

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS* COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun

More information

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS* COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun

More information

2015 ONTARIO BUDGET Schedule of Debt

2015 ONTARIO BUDGET Schedule of Debt 2015 ONTARIO BUDGET Schedule of Debt Outstanding Debt - Consolidated Summary Interim 2015 ($ Millions) Province OEFC 2014-15 2013-14 Debt Non-Public Debt Issued by the Province Guaranteed by the Province

More information

AMÉRICA MÓVIL S SECOND QUARTER OF 2002 FINANCIAL AND OPERATING REPORT

AMÉRICA MÓVIL S SECOND QUARTER OF 2002 FINANCIAL AND OPERATING REPORT Carlos García-Moreno Chief Financial Officer cgarciam@mail.telcel.com Investor Relations Office Leonel Ch. Schofecker leoschca@mail.telcel.com Highlights 8.9 million total subs in Q0 Revenues of 13.0 bn

More information

Australia-Mexico Infrastructure Finance Forum 2016

Australia-Mexico Infrastructure Finance Forum 2016 RECENT REFORMS GOVERNING AFORES INVESTMENTS Australia-Mexico Infrastructure Finance Forum 2016 Carlos Ramírez Fuentes TW: @CarlosRamirezF contents I. Introduction II. Why should pension funds invest in

More information

Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138. Exhibit 8

Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138. Exhibit 8 Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138 Exhibit 8 Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 2 of 138 Domain Name: CELLULARVERISON.COM Updated Date: 12-dec-2007

More information

Bank of Ghana Monetary Policy Report. Financial Stability Report

Bank of Ghana Monetary Policy Report. Financial Stability Report BANK OF GHANA E S T. 1 9 5 7 Bank of Ghana Monetary Policy Report Financial Stability Report Volume 5: No.1/2013 February 2013 5.0 Introduction Conditions in global financial markets have improved significantly

More information

Treasury Presentation to TBAC

Treasury Presentation to TBAC Treasury Presentation to TBAC Office of Debt Management Fiscal Year 2015 Q1 Report Table of Contents I. Fiscal II. A. Quarterly Tax Receipts p. 4 B. Monthly Receipt Levels p. 5 C. Eleven Largest Outlays

More information

ILLUSTRATION 17-1 CONVERTIBLE SECURITIES CONVERTIBLE BONDS

ILLUSTRATION 17-1 CONVERTIBLE SECURITIES CONVERTIBLE BONDS ILLUSTRATION 17-1 CONVERTIBLE SECURITIES CONVERTIBLE BONDS Issued ten, 8%, $1,000 par value bonds at 110. Each bond is convertible into 100 shares of $5 par value common. Entry at date of issue: Cash 11,000

More information

QNB FINANCE LTD INTERIM CONDENSED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2014

QNB FINANCE LTD INTERIM CONDENSED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2014 QNB FINANCE LTD INTERIM CONDENSED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2014 30 September 31 December 2014 2013 (Reviewed) (Audited) Notes ASSETS Due from Parent Company 7,811,007,779

More information

Enhanced Vessel Traffic Management System Booking Slots Available and Vessels Booked per Day From 12-JAN-2016 To 30-JUN-2017

Enhanced Vessel Traffic Management System Booking Slots Available and Vessels Booked per Day From 12-JAN-2016 To 30-JUN-2017 From -JAN- To -JUN- -JAN- VIRP Page Period Period Period -JAN- 8 -JAN- 8 9 -JAN- 8 8 -JAN- -JAN- -JAN- 8-JAN- 9-JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- 8-JAN- 9-JAN- -JAN- -JAN- -FEB- : days

More information

NUVISTA ENERGY LTD. Consolidated Statements of Financial Position (unaudited)

NUVISTA ENERGY LTD. Consolidated Statements of Financial Position (unaudited) NUVISTA ENERGY LTD. Consolidated Statements of Financial Position (unaudited) ($Cdn thousands) Assets Current assets Cash and cash equivalents $ - $ - Accounts receivable and prepaids 42,980 30,317 Assets

More information

Appendix 5B. Mining exploration entity quarterly report. Quarter ended ( current quarter ) 70 121 539 375 31 DECEMBER 2015

Appendix 5B. Mining exploration entity quarterly report. Quarter ended ( current quarter ) 70 121 539 375 31 DECEMBER 2015 Mining exploration entity ly report Appendix 5B Rule 5.3 Mining exploration entity ly report Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10 Name of entity

More information

NUVISTA ENERGY LTD. Consolidated Statements of Financial Position (unaudited)

NUVISTA ENERGY LTD. Consolidated Statements of Financial Position (unaudited) NUVISTA ENERGY LTD. Consolidated Statements of Financial Position (unaudited) ($Cdn thousands) Assets Current assets Cash and cash equivalents $ - $ - Accounts receivable and prepaids 35,443 30,317 Assets

More information

QNB FINANCE LTD INTERIM CONDENSED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2015

QNB FINANCE LTD INTERIM CONDENSED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2015 QNB FINANCE LTD INTERIM CONDENSED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2015 Independent Auditors' Report on Review of Interim Condensed Financial Statements to the Shareholder of QNB

More information

Regulation G Reconciliations

Regulation G Reconciliations Regulation G Reconciliations Reconciliation of Global Rolled Products Adjusted EBITDA to ATOI ($ in millions, except per metric ton amounts) 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

More information

INFORMATION FOR SHAREHOLDERS. Ordinary shares

INFORMATION FOR SHAREHOLDERS. Ordinary shares INFORMATION FOR SHAREHOLDERS Ordinary shares The Group s share capital is divided into 5,993,227,24 shares with a nominal value of RUB 1 each. NLMK s shares are traded on the MICEX and RTS trading platforms

More information

1. 2015 Gross Borrowing Requirements and Funding Plan

1. 2015 Gross Borrowing Requirements and Funding Plan 1 1. 2015 Gross Borrowing Requirements and Funding Plan 1.1 Gross Borrowing requirements The Treasury expects its 2015 gross borrowing requirements to amount to EUR 39.90 billion. This represents an increase

More information

Analysis One Code Desc. Transaction Amount. Fiscal Period

Analysis One Code Desc. Transaction Amount. Fiscal Period Analysis One Code Desc Transaction Amount Fiscal Period 57.63 Oct-12 12.13 Oct-12-38.90 Oct-12-773.00 Oct-12-800.00 Oct-12-187.00 Oct-12-82.00 Oct-12-82.00 Oct-12-110.00 Oct-12-1115.25 Oct-12-71.00 Oct-12-41.00

More information

Investors Report. Kemble Water Finance. For the period ended 30 September 2012

Investors Report. Kemble Water Finance. For the period ended 30 September 2012 Investors Report Kemble Water Finance For the period ended 30 September 2012 1 IMPORTANT NOTICE This report is being distributed in fulfilment of the Kemble Water Finance Limited (the Company ) Intercreditor

More information

Total Capital International Period from January 1 to March 31, 2014

Total Capital International Period from January 1 to March 31, 2014 KPMG Audit ERNST & YOUNG Audit This is a free translation into English of a report issued in French and it is provided solely for the convenience of English-speaking users. This report should be read in

More information

As of December 31, 2014. As of December 31, 2015. Assets Current assets:

As of December 31, 2014. As of December 31, 2015. Assets Current assets: Assets Current assets: Alphabet Inc. CONSOLIDATED BALANCE SHEETS (In millions, except share and par value amounts which are reflected in thousands, and par value per share amounts) As of December 31, 2014

More information

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report. Appendix 5B. Mining exploration entity quarterly report

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report. Appendix 5B. Mining exploration entity quarterly report Mining exploration entity and oil and gas exploration entity ly report Appendix 5B Rule 5.5 Mining exploration entity ly report Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01,

More information

THE LOAN CONSOLIDATION AND INVESTMENT RESERVE (LCIR)

THE LOAN CONSOLIDATION AND INVESTMENT RESERVE (LCIR) Appendix 8 THE LOAN CONSOLIDATION AND INVESTMENT RESERVE (LCIR) Contents Page Introduction 94 LCIR Holdings of CGS 94 1998-99 Activities of the LCIR 95 Tables Table 1: LCIR Investments at 30 June 1999

More information

Part F. Reforms in Pensions and in the Taxation of the Capital Market. 1. The Pension Reform

Part F. Reforms in Pensions and in the Taxation of the Capital Market. 1. The Pension Reform Part F 1. The Pension Reform Reforms in Pensions and in the Taxation of the Capital Market In May 2003, the Knesset approved a comprehensive reform in pension funds, under which their investment terms

More information

BBVA Colombia. Working for a better future for people

BBVA Colombia. Working for a better future for people BBVA Colombia Working for a better future for people 2013 The IR Recognition granted by Bolsa de Valores de Colombia S.A. (the Colombian Stock Exchange) is not a certification of the registered securities

More information

Appendix 5B. Mining exploration entity quarterly report. Quarter ended ( current quarter ) 85 003 257 556 30 September 2013

Appendix 5B. Mining exploration entity quarterly report. Quarter ended ( current quarter ) 85 003 257 556 30 September 2013 Appendix 5B Rule 5.3 Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10. Name of entity MILLENNIUM MINERALS LIMITED ABN Quarter ended ( current ) 85 003 257 556 30 September

More information

For personal use only

For personal use only Appendix 5B Mining exploration entity quarterly report Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10 Name of entity Vital Metals Ltd ABN Quarter ended (

More information

RETHINKING RISK AVERSION

RETHINKING RISK AVERSION RETHINKING RISK AVERSION Modern Asset/Liability Management Terry Hull, The University of Texas System Amy Kweskin, Washington University Alex Wright, JPMorgan Diana Hoadley, JPMorgan Established vs. Emerging

More information

DATA GROUP LTD. ANNOUNCES FIRST QUARTER RESULTS FOR 2014

DATA GROUP LTD. ANNOUNCES FIRST QUARTER RESULTS FOR 2014 For Immediate Release DATA GROUP LTD. ANNOUNCES FIRST QUARTER RESULTS FOR 2014 HIGHLIGHTS Q1 2014 First quarter 2014 ( Q1 ) Revenues of 77.9 million, Q1 Gross Profit of 18.8 million and Q1 Net Income of

More information

FINANCIAL RESULTS Q1 2016

FINANCIAL RESULTS Q1 2016 FINANCIAL RESULTS Q1 2016 CFO Hallvard Granheim 28 th April 2016 Highlights Q1 Increase in underlying results (EBITDA) - Nordic prices are down 15% Q-on-Q - High production from Nordic hydropower assets

More information

Notes on the parent company financial statements

Notes on the parent company financial statements 316 Financial statements Prudential plc Annual Report 2012 Notes on the parent company financial statements 1 Nature of operations Prudential plc (the Company) is a parent holding company. The Company

More information

7. Foreign Investments in India

7. Foreign Investments in India 93 Foreign Investments in India ISMR 7. Foreign Investments in India Introduction From 1992, Foreign Institutional Investors (FIIs) have been allowed to invest in all securities traded on the primary and

More information

Company Presentation September 14

Company Presentation September 14 Estrictamente Company Presentation September 14 1 ILC s Highlights ILC placed the largest IPO in Chile (US$ 468 million) 2012 June 1 st 2013 ILC sold 51% of Desarrollos Educacionales June 18 th 2013 ILC

More information

For personal use only

For personal use only Rule 5.3 Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10. Name of entity THE CARAJAS COPPER COMPANY LIMITED ABN Quarter ended ( current quarter ) 88 076 390 451 30 SEPTEMBER

More information

THE EMPIRE LIFE INSURANCE COMPANY

THE EMPIRE LIFE INSURANCE COMPANY THE EMPIRE LIFE INSURANCE COMPANY Condensed Interim Consolidated Financial Statements For the nine months ended September 30, 2013 Unaudited Issue Date: November 6, 2013 These condensed interim consolidated

More information

The Taxonomy of Fixed Income Securities: A CNO Approach

The Taxonomy of Fixed Income Securities: A CNO Approach The Taxonomy of Fixed Income Securities: A CNO Approach Finance theory cannot identify the true boundary between debt and equity There is nothing more complex than trying to draw a line which does not

More information

AUDITOR S REPORT. To the Members of the Legislative Assembly Province of Saskatchewan

AUDITOR S REPORT. To the Members of the Legislative Assembly Province of Saskatchewan AUDITOR S REPORT To the Members of the Legislative Assembly Province of Saskatchewan We have audited the statement of financial position of the Education Infrastructure Financing Corporation as at March

More information

Equity-index-linked swaps

Equity-index-linked swaps Equity-index-linked swaps Equivalent to portfolios of forward contracts calling for the exchange of cash flows based on two different investment rates: a variable debt rate (e.g. 3-month LIBOR) and the

More information

2 CALCULATION OF BORROWING LIMITS

2 CALCULATION OF BORROWING LIMITS TARGETED LONGER-TERM REFINANCING OPERATIONS Updated modalities Following a decision by the ECB s Governing Council, the Eurosystem will conduct eight targeted longer-term refinancing operations (TLTROs)

More information

Ashley Institute of Training Schedule of VET Tuition Fees 2015

Ashley Institute of Training Schedule of VET Tuition Fees 2015 Ashley Institute of Training Schedule of VET Fees Year of Study Group ID:DECE15G1 Total Course Fees $ 12,000 29-Aug- 17-Oct- 50 14-Sep- 0.167 blended various $2,000 CHC02 Best practice 24-Oct- 12-Dec-

More information

OPERATING FUND. PRELIMINARY & UNAUDITED FINANCIAL HIGHLIGHTS September 30, 2015 RENDELL L. JONES CHIEF FINANCIAL OFFICER

OPERATING FUND. PRELIMINARY & UNAUDITED FINANCIAL HIGHLIGHTS September 30, 2015 RENDELL L. JONES CHIEF FINANCIAL OFFICER PRELIMINARY & UNAUDITED FINANCIAL HIGHLIGHTS September 30, 2015 RENDELL L. JONES CHIEF FINANCIAL OFFICER MANAGEMENT OVERVIEW September 30, 2015 Balance Sheet Cash and cash equivalents had a month-end balance

More information

CAFIS REPORT 2015.10

CAFIS REPORT 2015.10 CAFIS REPORT 2015.10 INDEX Message CAFIS Inbound 03-06 07-08 CAFIS Arch 09-10 CAFIS Brain 11-12 CAFIS Global 13-14 What We Do 15-16 About CAFIS 17-18 Services for Member Stores 19-34 Services for Card

More information

DANMARKS NATIONALBANK DANISH GOVERNMENT DEBT MANAGEMENT POLICY

DANMARKS NATIONALBANK DANISH GOVERNMENT DEBT MANAGEMENT POLICY DANMARKS NATIONALBANK DANISH GOVERNMENT DEBT MANAGEMENT POLICY Strategy 2nd half of 2014 Published 24 June 2014 - Translation KEY ISSUES, 2ND HALF OF 2014 The strategy for the central government debt policy

More information

Appendix 5B. Mining exploration entity quarterly report. Quarter ended ( current quarter ) 68 073 914 191 31 December 2015

Appendix 5B. Mining exploration entity quarterly report. Quarter ended ( current quarter ) 68 073 914 191 31 December 2015 Appendix 5B Rule 5.3 Name of entity AUSTRALIAN MINES LIMITED AUZ ABN Quarter ended (current quarter ) 68 073 914 191 31 December 2015 Consolidated statement of cash flows Cash flows related to operating

More information

DATA GROUP LTD. ANNOUNCES SECOND QUARTER FINANCIAL RESULTS FOR 2015

DATA GROUP LTD. ANNOUNCES SECOND QUARTER FINANCIAL RESULTS FOR 2015 For Immediate Release DATA GROUP LTD. ANNOUNCES SECOND QUARTER FINANCIAL RESULTS FOR 2015 SECOND QUARTER HIGHLIGHTS Second quarter 2015 ( Q2 ) Revenues of $73.4 million, a decrease of 4.3% year over year

More information

DEBT MANAGEMENT POLICY

DEBT MANAGEMENT POLICY THE CITY OF WINNIPEG DEBT MANAGEMENT POLICY I. INTRODUCTION A. Purpose The City recognizes that the foundation of any well-managed debt program is a comprehensive debt policy. This Debt Management Policy

More information

Erste Group Bank AG as of 31.12.2012. 1. OVERVIEW in mn. EUR

Erste Group Bank AG as of 31.12.2012. 1. OVERVIEW in mn. EUR Erste Group Bank AG as of 31.12.2012 Mortgage covered bonds 1. OVERVIEW in mn. EUR Total outstanding liabilities 6,915 Total assets in the cover pool 9,932 Issuer senior unsecured rating A3 Covered bonds

More information

COST OF CAPITAL, COST OF EQUITY, DEBT FINANCING AND DIVIDEND POLICY

COST OF CAPITAL, COST OF EQUITY, DEBT FINANCING AND DIVIDEND POLICY Page of 4 5 6 7 8 9 0 COST OF CAPITAL, COST OF EQUITY, DEBT FINANCING AND DIVIDEND POLICY Overview PowerStream has followed the Report of the Board on Cost of Capital for Ontario s Regulated Utilities,

More information

I. TERMS AND CONDITIONS. TBD Monthly Sole payment on redemption date. Non-guaranteed / Unsecured

I. TERMS AND CONDITIONS. TBD Monthly Sole payment on redemption date. Non-guaranteed / Unsecured MEMORÁNDUM PRELIMINAR DE VENTA HSBC MÉXICO, S.A., INSTITUCIÓN DE BANCA MÚLTIPLE, GRUPO FINANCIERO HSBC ( HSBC ) ISSUANCE OF USD PREFERENTIAL SUBORDINATED DEBENTURES NON-CONVERTIBLE INTO HSBC SHARES ( SUBORDINATED

More information

Third Quarter 2014 Earnings Conference Call. 13 August 2014

Third Quarter 2014 Earnings Conference Call. 13 August 2014 Third Quarter 2014 Earnings Conference Call 13 August 2014 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the

More information

EMERGING MARKET CURRENCY PAIRS CURRENCY GUIDE

EMERGING MARKET CURRENCY PAIRS CURRENCY GUIDE EMERGING MARKET CURRENCY PAIRS CURRENCY GUIDE /MXN /Mexico 14.597/12.548 168.8 14.5500 14.2500 13.9500 13.7000 13.4000 13.1000 12.7767 JAN 9 FEB 28 APR 21 JUN 11 JUL 30 SEP 18 NOV 7 12.5500 The /MXN is

More information

NorthStar Education Finance, Inc. Student Loan Asset-Backed Notes, FFEL Trust Monthly Servicing Report Report Date: November 25, 2014.

NorthStar Education Finance, Inc. Student Loan Asset-Backed Notes, FFEL Trust Monthly Servicing Report Report Date: November 25, 2014. Asset Coverage Portfolio Principal Balance: Accrued Interest: Special Allowance (SAP) and Interest Subsidy payments (ISP) receivable Total Portfolio Student Loan Portfolio 9/30/2014 Activity 10/31/2014

More information

Interest rate Derivatives

Interest rate Derivatives Interest rate Derivatives There is a wide variety of interest rate options available. The most widely offered are interest rate caps and floors. Increasingly we also see swaptions offered. This note will

More information

Yellow Media Reaches Settlement with its Lenders and Amends Proposed Recapitalization

Yellow Media Reaches Settlement with its Lenders and Amends Proposed Recapitalization Yellow Media Reaches Settlement with its Lenders and Amends Proposed Recapitalization Settlement with bank lenders clears the way for implementation of proposed recapitalization Recapitalization now expected

More information

Chapter 9. Accounting for Receivables. McGraw-Hill/Irwin

Chapter 9. Accounting for Receivables. McGraw-Hill/Irwin Chapter 9 Accounting for Receivables Conceptual Learning Objectives C1: Describe accounts receivable and how they occur and are recorded C2: Describe a note receivable and the computation of its maturity

More information

Comments on Goldstein, Jiang, and Ng, Investor Flows and Fragility in Corporate Bond Funds

Comments on Goldstein, Jiang, and Ng, Investor Flows and Fragility in Corporate Bond Funds May 2, 2016 Comments on Goldstein, Jiang, and Ng, Investor Flows and Fragility in Corporate Bond Funds Sean Collins, Senior Director, Industry and Financial Analysis, Investment Company Institute Atlanta

More information

SECTION 7 DEBT MANAGEMENT POLICY LAS VEGAS VALLEY WATER DISTRICT FISCAL YEAR 2015-16 OPERATING AND CAPITAL BUDGET

SECTION 7 DEBT MANAGEMENT POLICY LAS VEGAS VALLEY WATER DISTRICT FISCAL YEAR 2015-16 OPERATING AND CAPITAL BUDGET SECTION 7 DEBT MANAGEMENT POLICY LAS VEGAS VALLEY WATER DISTRICT FISCAL YEAR 2015-16 OPERATING AND CAPITAL BUDGET In Accordance With NRS 350.013 June 30, 2015 7-1 Table of Contents Introduction... 7-3

More information

Software AG Results 1 st Quarter 2015 (IFRS, unaudited)

Software AG Results 1 st Quarter 2015 (IFRS, unaudited) Software AG Results 1 st Quarter (IFRS, unaudited) April 29, 1 Safe Harbor This presentation includes forward-looking statements based on the beliefs of Software AG management. Such statements reflect

More information

Reporting Form ARF 320.9 Intra-Group Receivables and Payables Instruction Guide

Reporting Form ARF 320.9 Intra-Group Receivables and Payables Instruction Guide Reporting Form ARF 320.9 Intra-Group Receivables and Payables Instruction Guide General directions and notes Reporting entity The Intra-Group Receivables and Payables form is to be completed by all locally

More information

VALUATION OF PLAIN VANILLA INTEREST RATES SWAPS

VALUATION OF PLAIN VANILLA INTEREST RATES SWAPS Graduate School of Business Administration University of Virginia VALUATION OF PLAIN VANILLA INTEREST RATES SWAPS Interest-rate swaps have grown tremendously over the last 10 years. With this development,

More information

MITSUI SUMITOMO INSURANCE COMPANY, LIMITED AND SUBSIDIARIES. CONSOLIDATED BALANCE SHEETS March 31, 2005 and 2006

MITSUI SUMITOMO INSURANCE COMPANY, LIMITED AND SUBSIDIARIES. CONSOLIDATED BALANCE SHEETS March 31, 2005 and 2006 CONSOLIDATED BALANCE SHEETS March 31, 2005 and 2006 2005 2006 ASSETS Investments - other than investments in affiliates: Securities available for sale: Fixed maturities, at fair value 3,043,851 3,193,503

More information

THE EMPIRE LIFE INSURANCE COMPANY

THE EMPIRE LIFE INSURANCE COMPANY THE EMPIRE LIFE INSURANCE COMPANY Condensed Interim Consolidated Financial Statements For the six months ended June 30, 2013 Unaudited Issue Date: August 9, 2013 These condensed interim consolidated financial

More information

LEBANON'S DEBT MANAGEMENT FRAMEWORK

LEBANON'S DEBT MANAGEMENT FRAMEWORK LEBANON'S DEBT MANAGEMENT FRAMEWORK FOR 2010-2015 MARCH 2010 For further information, please contact: 1 DEBT MANAGEMENT FRAMEWORK FOR 2010-2015 CONTENTS I. Purpose of the report... 5 II. Regulatory framework...

More information

APPENDIX 5B Mining exploration entity quarterly report

APPENDIX 5B Mining exploration entity quarterly report 1 of 5 APPENDIX 5B Mining exploration entity quarterly report TORO ENERGY LTD Quarter ended ABN. 48 117 127 590 June 2015 Consolidated statement of cash flows (Note 6.0) Cash flows related to operating

More information

Interim Condensed Consolidated Financial Statements TEXADA SOFTWARE INC. For the three months ended March 31, 2012 and 2011 (Unaudited)

Interim Condensed Consolidated Financial Statements TEXADA SOFTWARE INC. For the three months ended March 31, 2012 and 2011 (Unaudited) Interim Condensed Consolidated Financial Statements TEXADA SOFTWARE INC. For the three months ended March 31, 2012 and 2011 (Unaudited) MANAGEMENT S COMMENTS ON UNAUDITED INTERIM CONSOLIDATED FINANCIAL

More information

0175/00014699/en Half-Yearly Financial Report GLOBAL DIGITAL SERVICES PLC STC. Correction To:0175/00014529

0175/00014699/en Half-Yearly Financial Report GLOBAL DIGITAL SERVICES PLC STC. Correction To:0175/00014529 Correction To:0175/00014529 0175/00014699/en Half-Yearly Financial Report GLOBAL DIGITAL SERVICES PLC STC Corrected Consolidated Half Year Financial Report 9th February 2016 Global Digital Services PLC

More information

NATIONAL CREDIT UNION SHARE INSURANCE FUND

NATIONAL CREDIT UNION SHARE INSURANCE FUND NATIONAL CREDIT UNION SHARE INSURANCE FUND PRELIMINARY & UNAUDITED FINANCIAL HIGHLIGHTS RENDELL L. JONES CHIEF FINANCIAL OFFICER MANAGEMENT OVERVIEW Balance Sheet Other - Insurance and Guarantee Program

More information

Financial Statement Consolidation

Financial Statement Consolidation Financial Statement Consolidation We will consolidate the previously completed worksheets in this financial plan. In order to complete this section of the plan, you must have already completed all of the

More information

Vizrt Group AS Reports Q1 2015 Results

Vizrt Group AS Reports Q1 2015 Results Vizrt Group AS Quarterly report March 31, 2015 Vizrt Group AS Reports Q1 2015 Results Business Overview On March 19, 2015, Vizrt Group AS (formerly Aksjeselskapet av 17. Oktober 2014 AS ) ( the Company

More information

Northern Blizzard Resources Inc. Condensed Consolidated Interim Financial Statements For the Three Months Ended March 31, 2016 and 2015 (Unaudited)

Northern Blizzard Resources Inc. Condensed Consolidated Interim Financial Statements For the Three Months Ended March 31, 2016 and 2015 (Unaudited) Northern Blizzard Resources Inc. Condensed Consolidated Interim Financial Statements (Unaudited) CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION In Canadian $000s (unaudited) As at March

More information

Grupo PRISA Overview An integrated media and education company

Grupo PRISA Overview An integrated media and education company October, 2013 Disclaimer In addition to figures prepared in accordance with IFRS, PRISA presents non-gaap financial performance measures, e.g., EBITDA, EBITDA margin, adjusted EBITDA, adjusted EBITDA margin,

More information

Credit Suisse Leverage Finance Conference. Barcelona, October 1, 2015 1

Credit Suisse Leverage Finance Conference. Barcelona, October 1, 2015 1 Credit Suisse Leverage Finance Conference Barcelona, October, 205 OVERVIEW OF ALTICE GROUP DEBT Ø Silo debt structure; Separate balance sheets in Europe and US Altice Europe (Consolidated) Altice US Net

More information

WE ARE DEFINED BY OUR VALUES

WE ARE DEFINED BY OUR VALUES Q1 DATA GROUP LTD. Quarter One ended March 31, 2014 WE ARE DEFINED BY OUR VALUES Our success owes much to a set of corporate values which define and drive our culture. We will be innovative, indeed visionary,

More information

Citi Asset Management Conference March 12, 2014

Citi Asset Management Conference March 12, 2014 Citi Asset Management Conference March 12, 2014 Joseph A. Sullivan Chief Executive Officer Batterymarch Brandywine Global ClearBridge Investments Legg Mason Global Asset Allocation Legg Mason Global Equities

More information

Earnings Conference Call Quarter ended March 31, 2016

Earnings Conference Call Quarter ended March 31, 2016 Earnings Conference Call Quarter ended March 31, 2016 Forward Looking Statements This presentation may contain forward looking information within the meaning of applicable securities laws. All information

More information

Annual Borrowing Plan

Annual Borrowing Plan 20154 Bosnia and Herzegovina Federation of Bosnia and Herzegovina Federal Ministry of Finance Annual Borrowing Plan 2016 January 2016 www.fmf.gov.ba INTRODUCTION In order to increase transparency, fiscal

More information

GE Capital. Liquidity and Funding Overview. Global issuer of long and short term debt. 2012 third quarter

GE Capital. Liquidity and Funding Overview. Global issuer of long and short term debt. 2012 third quarter Liquidity and Funding Overview Global issuer of long and short term debt This document contains forward-looking statements - that is, statements related to future, not past, events. In this context, forward-looking

More information

Investor conferences Asia, United Kingdom and United States September and October 2015

Investor conferences Asia, United Kingdom and United States September and October 2015 MARKET ANNOUNCEMENT Computershare Limited ABN 71 005 485 825 Yarra Falls, 452 Johnston Street Abbotsford Victoria 3067 Australia PO Box 103 Abbotsford Victoria 3067 Australia Telephone 61 3 9415 5000 Facsimile

More information

Prosegur 9M 2013 Results

Prosegur 9M 2013 Results Prosegur 9M 2013 Results November 12th, 2013 Compañía de Seguridad S.A. all rights reserved 1 Highlights in the period The transfer to clients of the increase in the labour costs in Brazil (ARV) is being

More information

! "#$ %&!& "& ' - 3+4 &*!&-.,,5///2!(.//+ & $!- )!* & % +, -).//0)& 7+00///2 *&&.4 &*!&- 7.00///2 )!*.//+ 8 -!% %& "#$ ) &!&.

! #$ %&!& & ' - 3+4 &*!&-.,,5///2!(.//+ & $!- )!* & % +, -).//0)& 7+00///2 *&&.4 &*!&- 7.00///2 )!*.//+ 8 -!% %& #$ ) &!&. ! "#!""#$%$#$#$"& $'"()*+,$-).,/ 012! "#$ %&!& "& '!(&)!*&%+,-).//0 -#$#3-4' &,'1$1# $!-!(.//0)& +01+///2 *&& - 3+4 &*!&-.,,5///2!(.//+ &!(!-6%(!(.//.$(!(.//0)& 01,///2 //+2% &*!&- 5,0///2 //32%!(.//+

More information

This act of setting a price today for a transaction in the future, hedging. hedge currency exposure, short long long hedge short hedge Hedgers

This act of setting a price today for a transaction in the future, hedging. hedge currency exposure, short long long hedge short hedge Hedgers Section 7.3 and Section 4.5 Oct. 7, 2002 William Pugh 7.3 Example of a forward contract: In May, a crude oil producer gets together with a refiner to agree on a price for crude oil. This price is for crude

More information

EMERSON AND SUBSIDIARIES CONSOLIDATED OPERATING RESULTS (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED)

EMERSON AND SUBSIDIARIES CONSOLIDATED OPERATING RESULTS (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED) CONSOLIDATED OPERATING RESULTS (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED) TABLE 1 Quarter Ended March 31, Percent Change Net Sales $ 5,854 $ 5,919 1% Costs and expenses: Cost of sales 3,548 3,583

More information

Bond Snapshot with Kathy Jones The Year of the Taper

Bond Snapshot with Kathy Jones The Year of the Taper Bond Snapshot with Kathy Jones The Year of the Taper Kathy Jones, Vice President Fixed Income Strategist Schwab Center for Financial Research February 2014 Overview of Topics Tapering Implications Where

More information

CorpBanca Announces First Quarter 2011 Financial Results and Conference Call on Tuesday, May 17, 2011

CorpBanca Announces First Quarter 2011 Financial Results and Conference Call on Tuesday, May 17, 2011 CorpBanca Announces First Quarter 2011 Financial Results and Conference Call on Tuesday, May 17, 2011 Santiago, Chile, CORPBANCA (NYSE: BCA), a Chilean financial institution offering a wide variety of

More information

State budget borrowing requirements financing plan and its background May 2013

State budget borrowing requirements financing plan and its background May 2013 Public Debt Department State budget borrowing requirements financing plan and its background May 2013 THE MOST IMPORTANT INFORMATION Monthly issuance calendar... 2 Record high level of foreign investors'

More information

STATUTORY BOARD SB-FRS 32 FINANCIAL REPORTING STANDARD. Financial Instruments: Presentation Illustrative Examples

STATUTORY BOARD SB-FRS 32 FINANCIAL REPORTING STANDARD. Financial Instruments: Presentation Illustrative Examples STATUTORY BOARD SB-FRS 32 FINANCIAL REPORTING STANDARD Financial Instruments: Presentation Illustrative Examples CONTENTS Paragraphs ACCOUNTING FOR CONTRACTS ON EQUITY INSTRUMENTS OF AN ENTITY Example

More information

STATUTORY BOARD FINANCIAL REPORTING STANDARD SB-FRS 32. Financial Instruments: Presentation Illustrative Examples

STATUTORY BOARD FINANCIAL REPORTING STANDARD SB-FRS 32. Financial Instruments: Presentation Illustrative Examples STATUTORY BOARD FINANCIAL REPORTING STANDARD SB-FRS 32 Financial Instruments: Presentation Illustrative Examples CONTENTS Paragraphs ACCOUNTING FOR CONTRACTS ON EQUITY INSTRUMENTS OF AN ENTITY Example

More information

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report. Appendix 5B

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report. Appendix 5B Appendix 5B Rule 5.5 Mining exploration entity and oil and gas exploration entity ly report Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/2013 Name

More information

Alphabet Announces Fourth Quarter and Fiscal Year 2015 Results

Alphabet Announces Fourth Quarter and Fiscal Year 2015 Results Exhibit 99.1 Alphabet Announces Fourth Quarter and Fiscal Year 2015 Results MOUNTAIN VIEW, Calif. February 1, 2016 Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter

More information

CONSOLIDATED STATEMENTS OF OPERATIONS

CONSOLIDATED STATEMENTS OF OPERATIONS CONSOLIDATED STATEMENTS OF OPERATIONS For the years ended December 31, (in millions of Canadian dollars except for per share amounts) 2015 2014 Revenue Premiums Gross $ 16,824 $ 15,499 Less: Ceded 6,429

More information

Appendix 5B. Mining exploration entity quarterly report. Quarter ended ( current quarter ) 65 094 206 292 30 June 2013

Appendix 5B. Mining exploration entity quarterly report. Quarter ended ( current quarter ) 65 094 206 292 30 June 2013 Mining exploration entity ly report Appendix 5B Rule 5.3 Mining exploration entity ly report Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10 Name of entity

More information

Appendix 5B. Mining exploration entity quarterly report. Quarter ended ( current quarter ) 38 119 047 693 30 September 2011

Appendix 5B. Mining exploration entity quarterly report. Quarter ended ( current quarter ) 38 119 047 693 30 September 2011 Appendix 5B Rule 5.3 Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10. Name of entity COPPER RANGE LIMITED ABN Quarter ended ( current quarter ) 38 119 047 693 30 September

More information

Appendix 5B. RNI NL and its controlled entities. Quarter ended ( current quarter ) 77 085 806 284 30 Jun 2016

Appendix 5B. RNI NL and its controlled entities. Quarter ended ( current quarter ) 77 085 806 284 30 Jun 2016 Appendix 5B Rule 5.3 Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10. Name of entity RNI NL and its controlled entities ABN Quarter ended ( current quarter ) 77 085 806

More information

Consolidated Financial Summary under IFRS for the fiscal year ending March 31, 2015 (April 1, 2014 - March 31, 2015)

Consolidated Financial Summary under IFRS for the fiscal year ending March 31, 2015 (April 1, 2014 - March 31, 2015) Monex Group, Inc. Consolidated Financial Summary under IFRS for the fiscal year 2015 (April 1, 2014 - March 31, 2015) This is an English translation of Japanese report of the consolidated financial summary

More information

Department of Public Welfare (DPW)

Department of Public Welfare (DPW) Department of Public Welfare (DPW) Office of Income Maintenance Electronic Benefits Transfer Card Risk Management Report Out-of-State Residency Review FISCAL YEAR 2012-2013 June 2013 (March, April and

More information

Innovative Technology Solutions for Sustainability ABENGOA. Market Update

Innovative Technology Solutions for Sustainability ABENGOA. Market Update Innovative Technology Solutions for Sustainability ABENGOA Market Update November, 2014 Forward-looking Statement This presentation contains forward-looking statements (within the meaning of the U.S. Private

More information

Appendix 5B. Quarter ended ( current quarter ) 51 153 918 257 31 December 2013

Appendix 5B. Quarter ended ( current quarter ) 51 153 918 257 31 December 2013 Appendix 5B Rule 5.3 Introduced 1/7/96. Origin: Appendix 8. Amended 1/7/97, 1/7/98, 30/9/2001, 01/06/10. Name of entity HIGHFIELD RESOURCES LIMITED ABN Quarter ended ( current quarter ) 51 153 918 257

More information

Agri Credit Clinic. New Entrants Work-Shop. Moorepark 25 th April 2013. Bank of Ireland is regulated by the Central Bank of Ireland

Agri Credit Clinic. New Entrants Work-Shop. Moorepark 25 th April 2013. Bank of Ireland is regulated by the Central Bank of Ireland Agri Credit Clinic New Entrants Work-Shop Moorepark 25 th April 2013 Bank of Ireland is regulated by the Central Bank of Ireland Pillars of the credit application process Pillar 1 The Foundation Business

More information