Summary of Proposed Offering - FinanzNachrichten.de

tiger airways holdings limited
announcement of rights issue
and preferential offering of
perpetual convertible capital securities
5 March 2013
Not for release, publication or distribution in the United States
This presentation is not an offer for sale of securities into the United States or elsewhere. The nil-paid rights, rights shares and convertible
securities are not being registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered
or sold in the United States unless registered under the Securities Act or pursuant to an exemption from registration under the Securities Act.
There will be no public offering of securities in the United States.

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Summary of Proposed Offering
Rationale and Use of Proceeds
Appendix
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Summary of Proposed Offering
Offer Structure
Renounceable Rights Issue of Price: SGD 0.47
Ordinary Shares
Size: SGD 77M
Discount: 30% to TERP and 34% to 4 March 2013 close of SGD 0.715
Rights Ratio: 1 rights share for every 5 existing shares
Non-Renounceable Preferential Issue Price: 100% of the principal amount of the PCCS at S$1.07 for each PCCS
Offering of Perpetual Convertible
Capital Securities (“PCCS”)
Size: Up to SGD 220M (the maximum number of PCCS that will be issued is 205,382,555)
Maturity: Perpetual
Distributions: Ordinary Distribution of 2.0% per annum for the first 5 years + Special Distribution (equivalent to cash
dividends on underlying ordinary shares)
Ordinary Distribution Step Down: Nil distributions after 5 years from the Issue Date
Conversion Price: 15% conversion premium to VWAP of the Ordinary Shares over 5 consecutive trading days
ending on and including the Price Fixing Date (2 business days before Pref Offering closes)
Issuer Call: From 7 years after the Issue Date
Status of PCCS: Unsecured and subordinated
Preferential Offering Ratio: 1 PCCS for every 4 existing shares
Major Shareholder Commitments Irrevocable Undertakings from Singapore Airlines and Temasek
– Up to 84% of offering
EGM Friday, 22 March 2013
Use of Proceeds (SGD M)
Repayment of existing loans 80 to 100
Funding / investment in new or existing airlines and/or ventures 70 to 90
Funding for aircraft, spare engines & other aircraft parts, and assoc. pre-delivery payments 60 to 80
Working capital and issuance expense At least 27
Total 297
Lead Manager and Lead Arranger Morgan Stanley Asia (Singapore) Pte.
Joint Underwriters of the Rights
Issue
Morgan Stanley Asia (Singapore) Pte., DBS Bank Ltd., Standard Chartered Securities (Singapore) Pte. Limited
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Offering Structure
Strengthens our financial
position via raising equity
Raises capital at a lower cost of
capital
Allows participation by all
shareholders in both the Rights
Issue and Preferential Offering
Higher Average Issuance Prices
Offer Price of Rights Issue vs. PCCS Conversion Shares
0.470
Rights Offering
Issue Price
0.775
PCCS
Conversion Price*
* Computed based on 15% premium to PCCS reference price, which is assumed for illustrative purposes to be equal to TERP of S$0.674
SGD
0.658
Blended
Issue Price
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Irrevocable Undertakings from Our Major Shareholders
Singapore Airlines
− Pro-rata undertaking of rights offering and PCCS offering
− Vote in favour of the resolution at EGM
− Undertaking to take up excess of PCCS offering of up to 138,254,087 PCCS
and any additional excess right shares up to a total ownership of 49.9%
(assuming the PCCS are fully converted)
Temasek
− Pro-rata of undertaking of rights offering
− Vote in favor of the resolution at EGM
Remainder of rights offering is underwritten by Joint Underwriters
No commission paid for irrevocable undertaking
SIC approval for Whitewash Waiver has been obtained, conditional on
shareholder approval at an EGM
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Summary of Proposed Offering
Rationale and Use of Proceeds
Appendix
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Use of Proceeds
Objectives
Strengthen financial
position by raising
equity
Fund the Group’s
growing operations
Initiatives
Repayment of existing loans
Funding / investment in new or
existing airlines and/or ventures
Funding for aircraft, spare
engines & other aircraft parts,
and assoc. pre-delivery payments
Working capital and issue
expenses
SGD 80M to 100M
SGD 70M to 90M
SGD 60M to 80M
A minimum of SGD 27M,
and any remainder from
such Net Proceeds not
being utilized for the above
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Funding for Tiger’s Expansion Plans
Expand fleet with
25 new aircraft to
be delivered by
September 2015
Expand group
network
Grow Tiger’s
franchise in Asia
Indo-
nesia
Source: Company Website
Singapore
Philip-
pines
Australia
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Funding for Tiger’s Expansion Plans (cont’d)
Our Cub Strategy
Ownership
Current
Fleet
Strategy
Singapore
100%
A320
Extend market
leadership position
Grow network density
Grow tigerconnect
product through Changi
Hub for Tiger Singapore
and in collaboration with
other cubs and Scoot
Broaden range of
ancillary product
offerings
Australia* Philippines Indonesia
40% of Tiger Airways
Australia
A320
Collaborate with
Virgin Australia
to build a
stronger Tiger
Australia,
capitalizing on
synergies
Increase fleet
strength to 35
within 5 years
Expand network
and coverage
40% of SEAir
* Assuming the Australian Competition and Consumer Commission (the “ACCC”) grants its approval for the Company’s proposed joint venture with
Virgin Australia Holdings Limited in respect of Tiger Airways Australia Pty Ltd
A320
A319
33% of Mandala
Airlines
A320
Leverage Tiger brand to grow in their
respective markets
Capitalize on increasing propensity to
travel in these fast-growing markets
Grow network with new aircraft
deliveries
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Strengthen Balance Sheet by Reducing Leverage
1.80x
Net Gearing
0.19x
31-Dec-12 (Actual) 31-Dec-12 (Pro Forma)
(1)
Liquidity
(Cash & Cash Equivalent / Preceding 12-Months Revenue)
As of December 2012
44.8%
Tiger
Airways
(1)
Pro Forma
43.5%
38.3%
AirAsia Thai
AirAsia
28.3%
Cebu
(2)
Pacific
Source: Company Q3 2013 Results Announcement Source: Company Q3 2013 Results Announcement, Peer Public Filings
19.2%
7.1%
(3)
Qantas Tiger
Airways
Actual
(1) After taking into account the net proceeds from the transaction and assuming all other factors unchanged
(2) As of September 2012; Cebu Pacific has not yet announced Q4 2012 results
(3) 100% shareholder of Jetstar 9

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Summary of Proposed Offering
Rationale and Use of Proceeds
Appendix
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Plan for Continued Growth
Strong Available-Seat-Kilometres Growth Strong Revenue Growth
M
5,047
6,459
7,847
9,583
10,447
12,096
2008 2009 2010 2011 2012 LTM
Dec-12
Attractive Growth
Since Inception
SGD M
304
378
486
622 618
Australia
Grounding
787
2008 2009 2010 2011 2012 LTM
Dec-12
Source: Annual Report (2008-2012), Company Q3 2013 Results Announcement Source: Annual Report (2008-2012), Company Q3 2013 Results Announcement
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thank you
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