Status: Performing

All payments are on time

All covenants met

BACK TO MARKET


Amount

£311,700,000

Current Yield

7.8%

*
Estimated Yield to Maturity

7.1%

**
Maturity Date

23 Jul 2020

Interest Payment Frequency

6m

Next interest payment

23 Jan 2018

Asset Security

First ranking charge over company assets

Industry Type

Education

Next Call

23 January 2018 @102, 23 January 2019 @101, 23 January 2020@100

ISIN

XS1263035302


Business Description

Global University Systems (GUS) is an international network of higher-education institutions, brought together by a shared passion for accessible, industry-relevant qualifications. GUS delivers a wide variety of programmes, including bachelor's degree programmes, master's degree programmes, professional training, English Language training, and corporate & executive education. When someone chooses to study at one of their institutions– whether on campus in Europe, North America, or even in their own home – they're joining a network of over 40,000 students worldwide. They are based in some of the world’s biggest cities, with campuses in London, Birmingham and Manchester; across the Atlantic in Toronto, Chicago and Vancouver; and across the globe in places such as Singapore and Hannover.


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 average 12.0x EBITDA industry average

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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