using the information given in the pictures, answer the questions below

Question:

3. Find the following information:

a) Maturity date

b) coupon rate

Calculate:

c) What is the bond Yield (using data from markets insider, what is the bond yield).

d) Using the YTM, coupon rate and Maturity (from Markets Insider), calculate the bond

price (using excel). Include your excel screenshot.

Identify:

e) Is your bond a premium or discount bond?

f) What is the rating of your Companys bond?

g) What type of Interest rate (fixed or floating) is your bond?

Explain:

h) Does this type of bond and features attract you as investor? Why? Why not? Explain.

Transcribed image text: 2019 2018 Change D CI (404) 11,601 4,151 (0.03) 7,865 10,346 4,966 3,408 15,767 9,143 0.24 11,595 13,210 4,899 US$ million Key statement of income and cash flows highlights: Net (loss)/income attributable to equity holders Adjusted EBITDA Adjusted EBIT (Loss)/earnings per share (Basic) (US$) Funds from operations (FFO)2 Cash generated by operating activities before working capital changes Net purchase and sale of property, plant and equipment US$ million Key financial position highlights: Total assets Net funding Net debt Ratios: FFO to Net debt Net debt to Adjusted EBITDA (112) (26) (55) (112) (32) (22) 31.12.2019 3112 2018 Change % 124,076 34,366 17,556 128,672 32,138 14,710 7 19 44.8% 1.51x 78.896 0.93x (43) 62 Adjusted EBITDA/EBIT Adjusted EBITDA by business segment is as follows: 2019 Marketing Industrial Adjusted Marketing US$ million activities activities EBITDA activities Metals and minerals 1,169 5,555 6,724 1,767 Energy products 1,515 3,854 5,369 795 Corporate and other (47) (445) (492) 170) Total 2,637 8,964 11,601 2,492 Adjusted EBIT by business segment is as follows: 2019 Marketing Industrial Adjusted Marketing US$ million activities activities EBIT activities Metals and minerals 1,089 2,105 1,742 Energy products 1,324 1,274 2,598 742 Corporate and other (505) (552) (70) Total 2,366 1,785 4,151 2,414 2018 Industrial Adjusted activities EBITDA 8,478 10,245 5,312 6,107 (515) (585) 13,275 15,767 Change 96 (34) (12) (16) (26) Strategic report Change 1,016 2018 Industrial Adjusted activities EBIT 4,053 5,795 3,209 3,951 (533) (603) 6,729 9,143 (34) (8) (55) Govemance (1 Earnings A summary of the differences between reported Adjusted EBIT and income attributable to equity holders, including significant items, is set out in the following table: 2019 US$ million 4,151 Adjusted EBIT (337) Net finance and income tax expense in relevant material associates and joint ventures! (106) Proportionate adjustment Volcan (1,713) Net finance costs (369) Income tax expense Non-controlling interests Income attributable to equity holders of the Parent pre-significant items 2,442 Earnings per share (Basic) pre-significant items (US$) 2018 9,143 (529) (72) (1,514) (1,761) 498 816 5,765 0.41 0.18 Significant items Share of Associates' significant items Movement in unrealised inter-segment profit elimination (Loss)/gain on disposals of non-current assets Other expense - net Impairments Income tax expense Non-controlling interests' share of significant items Total significant items (Loss)/income attributable to equity holders of the Parent (Loss)/earnings per share (Basic) (US$) 1 Refer to note 2 of the financial statements and to APMs section for reconciliations. 2 Refer to other reconciliations section for the allocation of the total income tax expense between pre-significant and significant items. (292) 468 (43) (173) (2,843) (249) 286 (2,846) (404) (0.03) (40) 237 (139) (764 (1,643) (302) 294 (2,357) 3,408 0.24 31.12.2019 37,043 1778) 31.12.2018 34,994 (810) (2,046) 32,138 (1,899) 34,366 Cash flow and net funding/debt Net funding US$ million Total borrowings as per financial statements Proportionate adjustment-net funding Cash and cash equivalents Net funding Cash and non-cash movements in net funding US$ million Cash generated by operating activities before working capital changes Proportionate adjustment - Adjusted EBITDA Other non-cash adjustments included within EBITDA Net interest paid Tax paid Dividends received from associates Funds from operations 1.522 31.12.2019 31.12.2018 10,346 13,210 1,893 13 (6) (1,368) (1,200) (2,814) (2,406) 166 104 7,865 11,595 2,175 (117) Networking capital changes Acquisition and disposal of subsidiaries-net Exchangeable loan provided for a conditional acquisition of an oil refinery/downstream business Purchase and sale of investments-net Purchase and sale of property, plant and equipment- net Net margin receipts/(calls) in respect of financing related hedging activities Acquisition of non-controlling interests in subsidiaries Distributions paid and transactions of own shares - net Cash movement in net funding Net funding acquired in business combinations Impact of adoption of IFRS 16 Change in lease obligations Foreign currency revaluation of borrowings and other non-cash items Total movement in net funding Net funding', beginning of the year Net funding', end of year Less: Readily marketable inventories Net debt, end of year 1,526 12,834) (1,044) (3) (4,899) (507) (58) (5,144) (1,368) (138) (6) (4,966) 529 (24) (5,327) 129 (225) (865) (582) (685) (2,228) (32,138) (34,366) 16,810 (17,556) 190) 511 (1,085) (31,053) (32,138) 17,428 (14,710) Transcribed image text: 2019 2018 Change D CI (404) 11,601 4,151 (0.03) 7,865 10,346 4,966 3,408 15,767 9,143 0.24 11,595 13,210 4,899 US$ million Key statement of income and cash flows highlights: Net (loss)/income attributable to equity holders Adjusted EBITDA Adjusted EBIT (Loss)/earnings per share (Basic) (US$) Funds from operations (FFO)2 Cash generated by operating activities before working capital changes Net purchase and sale of property, plant and equipment US$ million Key financial position highlights: Total assets Net funding Net debt Ratios: FFO to Net debt Net debt to Adjusted EBITDA (112) (26) (55) (112) (32) (22) 31.12.2019 3112 2018 Change % 124,076 34,366 17,556 128,672 32,138 14,710 7 19 44.8% 1.51x 78.896 0.93x (43) 62 Adjusted EBITDA/EBIT Adjusted EBITDA by business segment is as follows: 2019 Marketing Industrial Adjusted Marketing US$ million activities activities EBITDA activities Metals and minerals 1,169 5,555 6,724 1,767 Energy products 1,515 3,854 5,369 795 Corporate and other (47) (445) (492) 170) Total 2,637 8,964 11,601 2,492 Adjusted EBIT by business segment is as follows: 2019 Marketing Industrial Adjusted Marketing US$ million activities activities EBIT activities Metals and minerals 1,089 2,105 1,742 Energy products 1,324 1,274 2,598 742 Corporate and other (505) (552) (70) Total 2,366 1,785 4,151 2,414 2018 Industrial Adjusted activities EBITDA 8,478 10,245 5,312 6,107 (515) (585) 13,275 15,767 Change 96 (34) (12) (16) (26) Strategic report Change 1,016 2018 Industrial Adjusted activities EBIT 4,053 5,795 3,209 3,951 (533) (603) 6,729 9,143 (34) (8) (55) Govemance (1 Earnings A summary of the differences between reported Adjusted EBIT and income attributable to equity holders, including significant items, is set out in the following table: 2019 US$ million 4,151 Adjusted EBIT (337) Net finance and income tax expense in relevant material associates and joint ventures! (106) Proportionate adjustment Volcan (1,713) Net finance costs (369) Income tax expense Non-controlling interests Income attributable to equity holders of the Parent pre-significant items 2,442 Earnings per share (Basic) pre-significant items (US$) 2018 9,143 (529) (72) (1,514) (1,761) 498 816 5,765 0.41 0.18 Significant items Share of Associates' significant items Movement in unrealised inter-segment profit elimination (Loss)/gain on disposals of non-current assets Other expense - net Impairments Income tax expense Non-controlling interests' share of significant items Total significant items (Loss)/income attributable to equity holders of the Parent (Loss)/earnings per share (Basic) (US$) 1 Refer to note 2 of the financial statements and to APMs section for reconciliations. 2 Refer to other reconciliations section for the allocation of the total income tax expense between pre-significant and significant items. (292) 468 (43) (173) (2,843) (249) 286 (2,846) (404) (0.03) (40) 237 (139) (764 (1,643) (302) 294 (2,357) 3,408 0.24 31.12.2019 37,043 1778) 31.12.2018 34,994 (810) (2,046) 32,138 (1,899) 34,366 Cash flow and net funding/debt Net funding US$ million Total borrowings as per financial statements Proportionate adjustment-net funding Cash and cash equivalents Net funding Cash and non-cash movements in net funding US$ million Cash generated by operating activities before working capital changes Proportionate adjustment - Adjusted EBITDA Other non-cash adjustments included within EBITDA Net interest paid Tax paid Dividends received from associates Funds from operations 1.522 31.12.2019 31.12.2018 10,346 13,210 1,893 13 (6) (1,368) (1,200) (2,814) (2,406) 166 104 7,865 11,595 2,175 (117) Networking capital changes Acquisition and disposal of subsidiaries-net Exchangeable loan provided for a conditional acquisition of an oil refinery/downstream business Purchase and sale of investments-net Purchase and sale of property, plant and equipment- net Net margin receipts/(calls) in respect of financing related hedging activities Acquisition of non-controlling interests in subsidiaries Distributions paid and transactions of own shares - net Cash movement in net funding Net funding acquired in business combinations Impact of adoption of IFRS 16 Change in lease obligations Foreign currency revaluation of borrowings and other non-cash items Total movement in net funding Net funding', beginning of the year Net funding', end of year Less: Readily marketable inventories Net debt, end of year 1,526 12,834) (1,044) (3) (4,899) (507) (58) (5,144) (1,368) (138) (6) (4,966) 529 (24) (5,327) 129 (225) (865) (582) (685) (2,228) (32,138) (34,366) 16,810 (17,556) 190) 511 (1,085) (31,053) (32,138) 17,428 (14,710)