New Day (UK)

2001

Private

Status: Performing

All payments are on time

All covenants met

BACK TO MARKET


Amount

£275,000,000

Current Yield

7.6%

*
Estimated Yield to Maturity

8.0%

**
Maturity Date

01 Feb 2024

Interest Payment Frequency

6m

Next interest payment

01 Feb 2018

Asset Security

First ranking charge over company assets

Industry Type

Financial

Next Call

1st Feb 2020 @103.688, 1st Feb 2021 @101.844, 1st Feb 2022 @100.0

ISIN

XS1554448271


Business Description

NewDay is a leading UK consumer finance provider, specializing in the near-prime and co-brands sectors of the UK credit card market. As of September 30, 2016, they had approximately 5.6 million customers in the United Kingdom and £1,620.8 million of gross receivables. New Day has two primary businesses, each of which focuses on specialist credit offerings within a different sector of the consumer credit market. i) Own-Brands: New Day provides credit cards designed to meet the needs of customers in the near-prime sector of the UK credit card market. New Day have issued credit cards in the Own-Brands business since 2002 and currently offer products under our aqua and marbles brands ii) Co-Brands: In the Co-Brands business, which they acquired from Santander UK in May 2013, New Day partner with well-known retail and consumer brands including Debenhams, House of Fraser, Laura Ashley and the Arcadia Group (namely, Topshop, Topman, Dorothy Perkins, Miss Selfridges, Wallis, Burton, Outfit and Evans) to provide co-branded credit cards and store cards to their partners’ customers. Based on the observed credit performance of the overall portfolio, they classify the Co-Brands portfolio as a prime portfolio. As of September 30, 2016, the Co-Brands business represented 38.8% of our gross receivables. New Day have recently partnered with the travel and tourism company, TUI, to launch the Thomson Credit Card and the online retailer, Amazon, to launch the Amazon Platinum Mastercard.


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 purchase multiple by CVC in Q1 2017.

Information


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* 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.

 

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