Premier Foods (UK)

1800

Public

Status: Performing

All payments are on time

All covenants met

BACK TO MARKET


Amount

£325,000,000

Current Yield

6.3%

*
Estimated Yield to Maturity

5.5%

**
Maturity Date

15 Mar 2021

Interest Payment Frequency

6m

Next interest payment

15 Sep 2017

Asset Security

First ranking charge over company assets

Industry Type

Food Manufacturing

Next Call

15 Mar 2017 103.25, 15 Mar 2018 101.625, 15 Mar 2019 100.0

ISIN

XS1043621090


Business Description

Premier Foods is one of the UK's largest food producers, with approximately 95% of UK households buying one or more of their products every year. The Company's segments include Grocery, Sweet Treats and International. The Grocery segment primarily sells savory ambient food products. The Sweet Treats segment sells sweet ambient food products. Brands include Ambrosia, Angel Delight, Batchelors Soups, Bisto, Cadbury's cakes, Homepride, Lloyd Grossman, Lyons, Mr. Kipling, Oxo, Paxo and Sharwoods. The business employs approximately 3,700 people and operates from 14 locations in the UK.


Capital Structure

Source: Public Company information
* An asterisk next to an item indicates there is additional information available if you hover over it. You can also find a definition of the terms used on this page in our Glossary here
Based on the share price as at 21/09/16


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* This is the estimated return an investor can expect to receive over the next 12 months expressed in percentage terms. It is the sum of the expected interest payments over the year and where the coupon is partly dependent on Libor uses market based Libor forecasts at each coupon date and also takes into account the Note's current price. It is gross of taxation and our Service Fee. The current yield is therefore an estimated return only and is not guaranteed and may be revised in the future.
** This is an estimated annualised return gross of taxation and our Service Fee assuming the investment is held to maturity. It equates the present value of expected future interest payments of a Note into an annual yield across its life relative to the Note's current price. Where the interest coupon is partly dependent on Libor it uses market based forecasts of Libor and assumes that all interest is re-invested at a rate equal to the Yield to Maturity. For floating rate coupons because current market based forecasts are for Libor to increase in future years the calculation of Yield to Maturity assumes the interest paid to investors will be higher in future years. However, there is no guarantee that the Bank of England will raise interest rates or that Libor will increase as a result. In addition, any changes to the financial circumstances of the company or changes in the economic terms of the underlying loan could also impact future interest payments. The Yield to Maturity is therefore an estimated return only and is not guaranteed.

Status: Performing


Notes:

The company currently has no outstanding notes.

Capital at risk. No FSCS cover. See Risk Statement.

 

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