Alpha Plus Group  5.0% 31 Mar 2024

Description Bond Information Company Information Capital Structure Key Financials Reports News & Stories

Business Description

Alpha Plus Group is Britain’s second largest Independent school operator. The group operates 19 schools, colleges and nurseries across the UK and 1 in New York. The group's portfolio includes Wetherby Preparatory which educated Prince William and Harry.

The group's bonds are secured by way of first legal mortgage over a real estate portfolio comprised of it's schoolhouses.

Alpha Plus is a portfolio company of Delancey, a real estate investment house managed by Ritblat family scion Jamie Ritblat (Son of Sir John Ribat, the founder of British Land). Investors in Delancey include George Soros and the Qatari Royal Family.

Bond Information

Coupon

5.0%

Maturity Date

31 Mar 2024

Next Interest Payment

30 Mar 2020

Interest Period

6 months

ISIN

XS1379593566

Asset Security

Senior Secured

Amount

£130,000,000

Status

Payments on time

* Current Yield and Yield to Maturity are on estimated return calculations and not guaranteed. All yields shown are gross of Taxation and our Service Fee.

Company Information

Company Legal Name

Alpha Plus Holdings

Year of Incorporation

1931

Ownership Status

Public Limited Company

Country of Origin

United Kingdom

Industry

Education

Capital Structure

Senior Debt

91%

Equity

9%

Cash

-1.2%

Senior Notes (combined)

6.2%

Content Liabilities

12.0%

Net Debt

17.0%

Equity

83.0%

Enterprise Value

100.0%

EDITDA

£883,000,000

Cash interest

£226,400,000

Type £m x EBITDA* % of capitalisation* Maturity* Coupon* EBITDA/Interest*
Cash na na na na na na
Undrawn Credit Lines (£5m) na na na na na na
Finance Leases na na na na na na
£48m Senior Secured Bonds na na na na na na
£80m Senior Secured Bonds na na na na na na
Net Debt na na na na na na
Equity at book na na na na na na
Total Capitalisation na na na na na na
             
EBITDA na          
Cash interest na          

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.

Key Financials

Revenues

11,607

Growth %

38.1%

EDITDA

1,681

Margin %

14.5%

Cash balance

3,067

Key Financials (£m) 2015A 2016A 2017A 2018A 6m 2018A 6m 2019A
n/a n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a n/a

Source: Public Company information

£96.75

Market Price

Reports & Information

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.

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.

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