McLaren  (UK)

1963

Private

Status: Performing

All payments are on time

All covenants met

BACK TO MARKET


Amount

£370,000,000

Current Yield

5.0%

*
Estimated Yield to Maturity

5.0%

**
Maturity Date

01 Aug 2022

Interest Payment Frequency

6m

Next interest payment

01 Feb 2018

Asset Security

Senior Secured

Industry Type

Automotive and Technology

Next Call

01 August 2019@102.5, 01 August 2020@101.25, 01 August 2021@100

ISIN

XS1577956516


Business Description

McLaren Technology Group is globally renowned as one of the world’s most illustrious high-technology brands. Since its foundation in 1963, McLaren has been pioneering and innovating in the competitive world of Formula 1, forging a formidable reputation which has seen the racing team win 20 World Championships and over 180 races. The Group has built on its successful racing expertise and diversified to include a global, high-performance sports car business, McLaren Automotive, and a game-changing technology and innovation business, McLaren Applied Technologies.


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 upon reports of equity value following stake sale of Ron Dennis as part of the debt financing (FT June 30 2017).

Information

Recent press release


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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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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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