Viridian (Ireland)

1999

Private

Status: Performing

All payments are on time

All covenants met

BACK TO MARKET


Amount

£225,000,000

Current Yield

4.75%

*
Estimated Yield to Maturity

4.75%

**
Maturity Date

15 Sep 2024

Interest Payment Frequency

6m

Next interest payment

15 Mar 2018

Asset Security

First ranking charge over company assets

Industry Type

Energy

Next Call

15 Sept 2020 102.375, 15 Sept 2021 101.188, 15 Sept 2022 100.0

ISIN

XS1684812339


Business Description

Viridian is the leading independent energy company in the all-Ireland market. With substantial businesses in both NI and the ROI and an annual turnover of circa €1.5 Billion, the Viridian Group is one of Ireland’s Top 50 Businesses. Viridian Group has always been at the forefront of innovation and was the first independent energy company to enter the deregulated market to offer competitive electricity to Irish businesses in 1999. Viridian, a forward thinking and innovative organisation, was first to market with many major initiatives including: • First independent energy company to build two modern power plants in Ireland with no state guarantees. • First independent energy company to offer competitive gas to Irish businesses and Ireland’s first independent dual fuel offering. • First energy company to trade electricity using the north-south inter-connector. Through Energia and Power NI, Viridian has a circa 20% share of domestic electricity sales and a circa 27% share of business electricity sales on an all-Ireland basis. Viridian employs approximately 630 staff across NI and the ROI.


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 cash post 15th September bond refinancing
Based on EUR1bn purchase price paid by I Squared On 29 April 2016

Information


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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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