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[null,"Legal disclaimer"]
[null,"Please fully read this disclaimer before using this model"]
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[null,"\n\n"]
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[null,null,null,null,"www.lentransolutions.com",null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Level 8, Suite 3, 234 George Street, NSW 2000"]
[null,null,null,null,"contact@lentransolutions.com",null,null,null,null,null,null,null,null,null,null,null,null,null,null,"ABN: 66 615 474 523"]

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[null,null,{"$f":"Model_Name","v":"Cashflow Waterfall"}]
[null,null,"LMS Tutorial"]
[null,null,"Sydney, November 2016"]
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[]
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[null,null,null,null,"www.lentransolutions.com",null,null,null,null,null,null,null,null,null,null,null,null,null,null,"Level 8, Suite 3, 234 George Street, NSW 2000"]
[null,null,null,null,"contact@lentransolutions.com",null,null,null,null,null,null,null,null,null,null,null,null,null,null,"ABN: 66 615 474 523"]

{"sheet":"Inputs","index":2,"n_rows":8,"n_cols":5,"rows_kept":8,"cut":false,"hidden":false,"merged":[]}
[null,null,"Assumptions"]
[null,null,{"$f":"\"Tutorial: \"&Model_Name","v":"Tutorial: Cashflow Waterfall"}]
[]
[]
[]
[null,null,"Technical inputs"]
[null,null,"General"]
[null,null,"Tutorial name","Name","Cashflow Waterfall"]

{"sheet":"Calc","index":3,"n_rows":83,"n_cols":17,"rows_kept":83,"cut":false,"hidden":false,"merged":[]}
[null,null,"Calculations"]
[null,null,{"$f":"\"Tutorial: \"&Model_Name","v":"Tutorial: Cashflow Waterfall"}]
[null,null,"Forecast year","Num#",null,null,null,{"$f":"G3+1","v":1},{"$f":"H3+1","v":2},3,4,5,6,7,{"$f":"N3+1","v":8},{"$f":"O3+1","v":9},{"$f":"P3+1","v":10}]
[]
[null,null,"Timing"]
[null,null,"Flags",null,null,"Start","End"]
[null,null,"Construction","Num#",null,1,2,{"$f":"IF(AND(H$3>=$F7,H$3<=$G7),1,0)","v":1},{"$f":"IF(AND(I$3>=$F7,I$3<=$G7),1,0)","v":1},{"$f":"IF(AND(J$3>=$F7,J$3<=$G7),1,0)","v":0},{"$f":"IF(AND(K$3>=$F7,K$3<=$G7),1,0)","v":0},{"$f":"IF(AND(L$3>=$F7,L$3<=$G7),1,0)","v":0},{"$f":"IF(AND(M$3>=$F7,M$3<=$G7),1,0)","v":0},{"$f":"IF(AND(N$3>=$F7,N$3<=$G7),1,0)","v":0},{"$f":"IF(AND(O$3>=$F7,O$3<=$G7),1,0)","v":0},{"$f":"IF(AND(P$3>=$F7,P$3<=$G7),1,0)","v":0},{"$f":"IF(AND(Q$3>=$F7,Q$3<=$G7),1,0)","v":0}]
[null,null,"Operations","Num#",null,{"$f":"G7+1","v":3},8,{"$f":"IF(AND(H$3>=$F8,H$3<=$G8),1,0)","v":0},{"$f":"IF(AND(I$3>=$F8,I$3<=$G8),1,0)","v":0},{"$f":"IF(AND(J$3>=$F8,J$3<=$G8),1,0)","v":1},{"$f":"IF(AND(K$3>=$F8,K$3<=$G8),1,0)","v":1},{"$f":"IF(AND(L$3>=$F8,L$3<=$G8),1,0)","v":1},{"$f":"IF(AND(M$3>=$F8,M$3<=$G8),1,0)","v":1},{"$f":"IF(AND(N$3>=$F8,N$3<=$G8),1,0)","v":1},{"$f":"IF(AND(O$3>=$F8,O$3<=$G8),1,0)","v":1},{"$f":"IF(AND(P$3>=$F8,P$3<=$G8),1,0)","v":0},{"$f":"IF(AND(Q$3>=$F8,Q$3<=$G8),1,0)","v":0}]
[]
[null,null,"Cashflow waterfall (AUD '000)"]
[null,null,"Operating cashflows"]
[null,null,"Revenue",null,null,null,{"$f":"SUM(H12:Q12)","v":7444.6612500000001},0,0,1077.375,1185.1125,1249.7549999999999,1282.0762500000001,1314.3975,1335.9449999999999,0,0]
[null,null,"Operating expenditures",null,null,null,-2018.8,0,0,-280,-364,-352.8,-333.2,-369.6,-319.2,0,0]
[null,null,"Net working capital adjustments",null,null,null,0,0,0,-73,12,-8,10,7,52]
[null,null,"Operating cashflows",null,null,null,5425.8612499999999,{"$f":"SUM(H12:H14)","v":0},{"$f":"SUM(I12:I14)","v":0},724.375,833.11249999999995,888.95499999999993,958.87625000000003,951.79750000000001,1068.7449999999999,0,0]
[]
[null,null,"Construction costs"]
[null,null,"Construction costs (incl. contingency)",null,null,null,{"$f":"SUM(H18:Q18)","v":-1670},-780,-890,0,0,0,0,0,0,0,0]
[null,null,"Senior debt: interest during construction",null,null,null,-116,-38,-78,0,0,0,0,0,0,0,0]
[null,null,"Senior debt: financing fees",null,null,null,-44,-26,-18,0,0,0,0,0,0,0,0]
[null,null,"Senior DSRA/c: initial funding",null,null,null,-20,0,-20,0,0,0,0,0,0,0,0]
[null,null,"Junior debt: interest during construction",null,null,null,-24,0,-24,0,0,0,0,0,0,0,0]
[null,null,"Junior debt: financing fees",null,null,null,-30,-12,-18,0,0,0,0,0,0,0,0]
[null,null,"Total",null,null,null,-1904,{"$f":"SUM(H18:H23)","v":-856},-1048,0,0,0,0,0,0,0,0]
[]
[null,null,"Cashflow before funding",null,null,null,3521.8612499999999,{"$f":"H15+H24","v":-856},-1048,724.375,833.11249999999995,888.95499999999993,958.87625000000003,951.79750000000001,1068.7449999999999,0,0]
[]
[null,null,"Funding"]
[null,null,"Equity",null,null,null,{"$f":"SUM(H29:Q29)","v":500},500,0,0,0,0,0,0,0,0,0]
[null,null,"Senior debt",null,null,null,1200,356,844,0,0,0,0,0,0,0,0]
[null,null,"Junior debt",null,null,null,204,0,204,0,0,0,0,0,0,0,0]
[null,null,"Total",null,null,null,1904,{"$f":"SUM(H29:H31)","v":856},{"$f":"SUM(I29:I31)","v":1048},0,0,0,0,0,0,0,0]
[]
[null,null,"Cashflow after funding",null,null,null,{"$f":"SUM(H34:Q34)","v":5425.8612499999999},{"$f":"H26+H32","v":0},{"$f":"I26+I32","v":0},724.375,833.11249999999995,888.95499999999993,958.87625000000003,951.79750000000001,1068.7449999999999,0,0]
[]
[null,null,"Interest income",null,null,null,328.428,0,0,42.42,55.559999999999995,55.487999999999992,56.292000000000002,59.195999999999998,59.472000000000001,0,0]
[null,null,"Tax paid",null,null,null,-2189.5200000000004,0,0,-282.8,-370.40000000000003,-369.92,-375.28000000000003,-394.64000000000004,-396.48,0,0]
[null,null,"Royalties paid",null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Maintenance capital expenditure",null,null,null,{"$f":"SUM(H39:Q39)","v":-270},0,0,0,0,-135,0,0,-135,0,0]
[]
[null,null,"MMRA/c"]
[null,null,"Additions",null,null,null,{"$f":"SUM(H42:Q42)","v":-270},0,0,-45,-45,-45,-45,-45,-45,0,0]
[null,null,"Releases",null,null,null,270,0,0,0,0,135,0,0,135,0,0]
[null,null,"Net movement",null,null,null,0,{"$f":"SUM(H42:H43)","v":0},{"$f":"SUM(I42:I43)","v":0},{"$f":"SUM(J42:J43)","v":-45},{"$f":"SUM(K42:K43)","v":-45},{"$f":"SUM(L42:L43)","v":90},{"$f":"SUM(M42:M43)","v":-45},{"$f":"SUM(N42:N43)","v":-45},{"$f":"SUM(O42:O43)","v":90},{"$f":"SUM(P42:P43)","v":0},{"$f":"SUM(Q42:Q43)","v":0}]
[]
[null,null,"Cashflow available for debt service (CFADS)",null,null,null,3294.7692499999994,{"$f":"H34+SUM(H36:H39)+H44","v":0},{"$f":"I34+SUM(I36:I39)+I44","v":0},438.995,473.27249999999992,529.52299999999991,594.88824999999997,571.35349999999994,686.73699999999985,0,0]
[]
[null,null,"Senior debt service"]
[null,null,"Interest paid",null,null,null,{"$f":"SUM(H49:Q49)","v":-210.00000000000003},0,0,-84.000000000000014,-63.000000000000007,-42.000000000000007,-21.000000000000004,0,0,0,0]
[null,null,"Principal repayment",null,null,null,-1200,0,0,-300,-300,-300,-300,0,0,0,0]
[null,null,"Total",null,null,null,-1410,{"$f":"SUM(H49:H50)","v":0},{"$f":"SUM(I49:I50)","v":0},-384,-363,-342,-321,0,0,0,0]
[]
[null,null,"Cashflow available for senior DSRA/c",null,null,null,{"$f":"SUM(H53:Q53)","v":1884.7692499999996},{"$f":"H46+H51","v":0},{"$f":"I46+I51","v":0},54.995000000000005,110.27249999999992,187.52299999999991,273.88824999999997,571.35349999999994,686.73699999999985,0,0]
[]
[null,null,"Senior DSRA/c"]
[null,null,"Additions: cashflows",null,null,null,{"$f":"SUM(H56:Q56)","v":17},0,0,0,17,0,0,0,0,0,0]
[null,null,"Release: debt service",null,null,null,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Release: excess cash",null,null,null,-37,0,0,0,0,-7,-30,0,0,0,0]
[null,null,"Total",null,null,null,-20,{"$f":"SUM(H56:H58)","v":0},{"$f":"SUM(I56:I58)","v":0},0,17,-7,-30,0,0,0,0]
[]
[null,null,"Cashflow available for cash sweep",null,null,null,{"$f":"SUM(H61:Q61)","v":1864.7692499999996},{"$f":"H53+H59","v":0},{"$f":"I53+I59","v":0},54.995000000000005,127.27249999999992,180.52299999999991,243.88824999999997,571.35349999999994,686.73699999999985,0,0]
[]
[null,null,"Cash sweep",null,null,null,{"$f":"SUM(H63:Q63)","v":0},0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Cashflow available for junior debt",null,null,null,1864.7692499999996,{"$f":"H61+H63","v":0},{"$f":"I61+I63","v":0},54.995000000000005,127.27249999999992,180.52299999999991,243.88824999999997,571.35349999999994,686.73699999999985,0,0]
[]
[null,null,"Junior debt service"]
[null,null,"Interest paid",null,null,null,{"$f":"SUM(H68:Q68)","v":-49.64},0,0,-26.32,-16.32,-7,0,0,0,0,0]
[null,null,"Principal repayment",null,null,null,-204,0,0,-28.675000000000001,-110.9525,-64.372500000000002,0,0,0,0,0]
[null,null,"Total",null,null,null,-253.64000000000001,{"$f":"SUM(H68:H69)","v":0},{"$f":"SUM(I68:I69)","v":0},{"$f":"SUM(J68:J69)","v":-54.995000000000005},{"$f":"SUM(K68:K69)","v":-127.27250000000001},{"$f":"SUM(L68:L69)","v":-71.372500000000002},{"$f":"SUM(M68:M69)","v":0},{"$f":"SUM(N68:N69)","v":0},{"$f":"SUM(O68:O69)","v":0},{"$f":"SUM(P68:P69)","v":0},{"$f":"SUM(Q68:Q69)","v":0}]
[]
[null,null,"Cashflow available for equity",null,null,null,{"$f":"SUM(H72:Q72)","v":1611.1292499999997},{"$f":"H65+H70","v":0},{"$f":"I65+I70","v":0},0,0,109.15049999999991,243.88824999999997,571.35349999999994,686.73699999999985,0,0]
[]
[null,null,"Distributions",null,null,null,{"$f":"SUM(H74:Q74)","v":-1450.0163249999996},0,0,0,0,-98.235449999999915,-219.49942499999997,-514.21814999999992,-618.06329999999991,0,0]
[]
[null,null,"Cash balance b/f",null,null,null,null,{"$f":"G78*SUM(H$7:H$8)","v":0},{"$f":"H78*SUM(I$7:I$8)","v":0},0,0,0,10.915049999999994,35.303874999999991,92.439225000000008,0,0]
[null,null,"Net cashflow",null,null,null,{"$f":"SUM(H77:Q77)","v":161.11292499999996},{"$f":"H72+H74","v":0},{"$f":"I72+I74","v":0},0,0,10.915049999999994,24.388824999999997,57.135350000000017,68.67369999999994,0,0]
[null,null,"Cash balance c/f",null,null,null,null,{"$f":"SUM(H76:H77)","v":0},{"$f":"SUM(I76:I77)","v":0},0,0,10.915049999999994,35.303874999999991,92.439225000000008,161.11292499999996,0,0]
[]
[null,null,"Profit and Loss - partial until EBITDA (AUD '000)"]
[null,null,"Revenues",null,null,null,{"$f":"SUM(H81:Q81)","v":7444.6612500000001},{"$f":"H12","v":0},{"$f":"I12","v":0},1077.375,1185.1125,1249.7549999999999,1282.0762500000001,1314.3975,1335.9449999999999,0,0]
[null,null,"Operating expenditures",null,null,null,-2018.8,{"$f":"H13","v":0},{"$f":"I13","v":0},-280,-364,-352.8,-333.2,-369.6,-319.2,0,0]
[null,null,"EBITDA",null,null,null,5425.8612499999999,{"$f":"SUM(H81:H82)","v":0},{"$f":"SUM(I81:I82)","v":0},797.375,821.11249999999995,896.95499999999993,948.87625000000003,944.79750000000001,1016.7449999999999,0,0]