FY 2021

sqm GLA

THE COMPANY

We are the Argentina's leading real estate company in terms of size and quality. Engaged, directly and indirectly through subsidiaries and joint ventures, in a range of diversified real estate related activities in Argentina, including: the acquisition, development and operation of shopping malls, office buildings, residential properties, luxury hotels, undeveloped land reserves for future development and sale, and selective investments outside Argentina.

SHOPPING MALLS' UNIQUE PORTFOLIO

OFFICES BUILDINGS

BA CITY ~70%

Market

Share

Dot Building

Philips

Della Paolera 261

Zetta

Suipacha

República

Intercontinental

15 MALLS

High income Area

Expanding Corporate North Area

Mid Income Area

Business Center

336,000

Low Income Area

AAA Location

Back Office Center

7 BUILDINGS

June 30, 2021, we held a 29.91% interest in Banco Hipotecario. Established in 1886 by the113,000argentine government and privatized in 1999, Hipotecario has historically been Argentina's leading mortgage lender, provider of mortgage-related insurance and mortgage loan

sqm GLA

services All of its operations are located in Argentina where it operates a nationwide network of 63 branches in the 23 Argentine provinces and

the City of Buenos Aires, and 12 additional sales offices throughout Argentina.

3 PREMIUM HOTELS ACROSS THE COUNTRY

Intercontinental Libertador

Llao Llao

FINANCIAL INVESTMENTS

29.9%

Banco Hipotecario has historically been Argentina's leading mortgage lender, provider of mortgage-related insurance and mortgage loan services. All of its operations are located in Argentina where it operates a nationwide network of 63 branches in the 23 Argentine provinces and the City of Buenos Aires, and 12 additional sales offices throughout Argentina.

NET ASSET VALUE

JUNE 30, 2021 - USD MILLION

1,460 GAV

1,159 NAV

20.6% LTV

27

56

387

301

1.460

1.159

990

IRCP NAV

Hotels 1

Banco

1 Landbank & 2

Gross Asset

Net Debt

Net Asset

Hipotecario

Others

Value

Value

  1. Book value as of June 30, 2021
  2. Book value as of June 30, 2021. "Others" includes properties for sale and investment in Condor Hospitality
    Trust

DEBT PROFILE

JUNE 30, 2021 - USD MILLION

Description

Amount

Maturity

Short term debt

0.6

<360 days

Series VI

2.5

Jul-21

Series VII

33.7

Jan-22

Series X

7.3

Mar-22

Series V

9.2

May-22

Series IX

80.7

Mar-23

Series I

3.1

Mar-23

Series VIII

31.8

Nov-23

Series XI

15.8

Mar-24

Series XII

45.6

Mar-24

Intercompany Debt

69.9

Mar-22

Other Debt

8.8

Feb-22

GROSS DEBT

309.0

Cash & Eq.

8.0

NET DEBT

301.0

301

Stand Alone Net Debt

From A to AA

AMORTIZATION SCHEDULE

Credit Rating upgrade

DOES NOT INCLUDE INTERCOMPANY DEBT

By FIX (affiliate of Fitch Ratings)

72,6

94,3

58,1

72,2

FY22

FY23

FY24

FY25

*IRSA CP owns IRSA bonds for ~ USD 50 million

On August 26, 2021, we issued USD 58.1 MM in the local capital markets

  • Series XIII (USD linked): at 3.9% fixed due 25% in August 2023, 25% in February 2024 and 50% in August 2024.
  • Proceeds will be used to refinance short term debt

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Disclaimer

IRSA - Inversiones y Representaciones SA published this content on 19 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 October 2021 13:20:06 UTC.