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Iceland (UK)

1970

Private

Status: Performing

All payments are on time

All covenants met

BACK TO MARKET


Amount

£200,000,000

Current Yield

6.3%

*
Estimated Yield to Maturity

5.3%

**
Maturity Date

15 Jul 2024

Interest Payment Frequency

6m

Next interest payment

15 Oct 2018

Asset Security

First ranking charge over company assets

Industry Type

Food Retail

Next Call

15 July 2019 103.375, 15 July 2020 102.25, 15 July 2021 101.25, 15 July 2022 100.0

ISIN

XS1087780166


Business Description

Iceland is a national UK food retailer specialising in frozen food with over 900 stores in the UK. They offer their customers a range of over 2,500 food SKUs including frozen, chilled and grocery products. Their products range from everyday items such as milk, eggs and bread to an extensive range of approximately 900 frozen food SKUs covering a broad spectrum from ready meals, pizzas and party food to frozen meat, fish, poultry and vegetables. Iceland are focused on the value-end of the retail market and trade from conveniently located stores throughout the UK. They have recently started selling a number of luxury food products through their online platform

* The coupon divided by the price. Where the coupon is partly dependent on Libor it uses market based Libor forecasts at each coupon date over the next 12 months.
** The estimated yield from holding a bond to maturity including interest and capital repayment and assuming interest is re-invested at the same yield. Please note this calculation may be adversely affected by features in bond such as calls or prepayments. Where the coupon is partly dependent on Libor it uses market based forecasts of Libor until the maturity date.
Please note that the current yield and yield to maturity are an estimated return calculation and not guaranteed. All yields shown are gross of taxation and our Service Fee.

Status: Performing


Notes:

The company currently has no outstanding notes.

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

 

Please note as a WiseAlpha member you are not lending directly to the corporate borrower. Instead, you are investing in a Participation Note, or “Note”, which corresponds and is backed by a specific loan or bond investment made through the WiseAlpha platform reflecting the key economic terms of the investment.

WiseAlpha Technologies Limited (FRN: 751087) is authorised and regulated by the Financial Conduct Authority in the UK.
WiseAlpha Technologies Limited is a company registered in England, with its registered office at Level 39, One Canada Square, Canary Wharf, London E14 5AB (Company No. 08967521).
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