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  "documentTitle": "Citi | Investment Banking Pitch Book | 43 slides",
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  "authorName": "Citi",
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  "presentationDate": "2004-11-01 00:00:00",
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  "notes": "Includes a footnote regarding a 12.5 bp increase in margin percentage if drawing >50% of credit facility.",
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      "kind": "diagram",
      "text": "Papa Inc. -> Charlie Holding Inc. -> Charlie Holding Inc.",
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      "text": "Financed mostly at Charlie; Papa invests equity in Charlie; Draw on existing credit facility, subject to 4.5x leverage covenant for investments or; Refinance credit facility; Utilizes Papa's balance sheet and cash flows without requiring public disclosure",
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      "text": "Draws on existing credit facility or refinances credit facility; Invests cash in Charlie Inc.; Must repay existing credit facility / CP; Issuer of new credit facility and senior notes",
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      "text": "Note: Drawing greater 50% of Papa's credit facility would incur a 12.5 bp increase in the Margin Percentage implied based on the credit rating.",
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      "text": "Illustrative Financing: Alternative B",
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