X

Supercharge your investing

Investor Guide Icon

RAC  (UK)

1897

Privately owned

Status: Performing

All payments are on time

BACK TO MARKET


Coupon

5%

Current Yield

5.2%

*
Estimated Yield to Maturity

6.1%

**
Maturity Date

06 Nov 2022

Next Interest Payment

06 Nov 2018

Interest Payment Frequency

6 months

Asset Security

Whole Business Securitisation

Industry

Services

Amount

£275,000,000

ISIN

XS1645523579

Ratings

S&P:  BBB-

Next Call

14 Jul 2019 at 102.5
14 Jul 2020 at 101.25
14 Jul 2021 at 100


Business Description

The RAC is headquartered in Birmingham with approximately 4,000 dedicated staff operating from four bases throughout the UK and provides motor-related services to both consumers and corporate clients. They have over 8.6 million members. The RAC offers vehicle and breakdown services through a nationwide, branded patrol force, focusing primarily on vehicle repair and recovery. They boast the world's most advanced computer systems to deal with roadside assistance calls.

In 2016, the RAC's patrol force attended to 2.4 million rescue breakdowns. In addition, the RAC provides motor insurance broking services and offers a suite of legal and motor claims services, which provide both consumers and corporate customers with legal cover and advice as well as a range of claims management services.

RAC additional image
* 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.

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).
© wisealpha.com. All rights reserved