Status: Performing

All payments are on time

All covenants met

BACK TO MARKET


Amount

£35,000,000

Current Yield

9.5%

*
Estimated Yield to Maturity

8.7%

**
Maturity Date

01 Nov 2023

Interest Payment Frequency

6m

Next interest payment

01 Nov 2017

Asset Security

Second Ranking

Industry Type

Healthcare

Next Call

01 November 2019 @105.0, 01 November 2020@ 102.5

ISIN

XS1533910847


Business Description

Voyage Care are the leading provider of care services for adults with learning disabilities and other related complex and challenging support needs across the UK, measured in terms of beds. The vast majority of people they support have life-long conditions and high acuity needs, which have been assessed as either ‘‘critical’’ or ‘‘substantial’’ by Local Authorities and PCTs and therefore require ongoing care services to help them look after themselves. The non-discretionary nature of such high acuity, long-term conditions, combined with the long average length of stay, provides them with visibility of expected occupancy levels and provides a degree of resilience to government spending pressures.


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
Pro forma estimate of cash post refinancing
Based on the Equity injected by owners Duke Street and Partners Group in 2013


Throughout our site you will find links to external websites. Although we make every effort to ensure these links are accurate, up to date and relevant, we cannot take responsibility for pages maintained by external providers.

* 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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