Domestic & General  9.25% 31 Jul 2027

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

Business Description

Domestic & General is the leading specialist provider of warranties and warranty services for domestic appliances and consumer electronic products in its home UK market and a leading specialist provider in several of its international markets, with strong and growing international operations in Germany, Spain, Portugal, France, Italy and Australia.

Domestic & General was founded in 1912, initially trading as ‘The Western Australian Insurance Company’ which insured livestock during transportation. Over the 20th century, the company shifted its focus to insuring household appliances with continued growth supported by expansion into Europe.

From the early 1980s, it steadily built its position as a leading provider of insurance on domestic and electrical appliances and heating systems, gradually withdrawing from other areas of general insurance. By 1988 Domestic & General had listed on the LSE & by 1989 it had 1 million customers. Success begets success and the company expanded rapidly into Germany and Spain.

Fast forward to the 21st century and Domestic & General Group Limited is a private company, acquired by CVC Capital Partners on the 19th December 2013.

Bond Information

Coupon

9.25%

Maturity Date

31 Jul 2027

Next Interest Payment

28 Feb 2020

Interest Period

6 months

ISIN

XS2028892987

Asset Security

Unsecured

Amount

£150,000,000

Ratings

S&P:  CCC+, Moody's:  Caa1

Call Schedule

17 Jul 2022 at 104.625
17 Jul 2023 at 102.313
17 Jul 2024 at 100

Status

Payments on time

Company Information

Company Legal Name

Galaxy Finco Ltd

Year of Incorporation

1912

Ownership Status

Private

Registered Location

UK

Industry

Consumer & Food

* 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.

Capital Structure

Senior Debt

44%

Junior Debt

14%

Equity

42%

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
Revolver £100m na na na na na na
£305m 6.50% Senior Secured Notes na na na na na na
€200m E+ 5.00% Senior Secured Notes FRN na na na na na na
Net Senior Debt na na na na na na
£150m 9.25% Senior Notes na na na na na na
Net Debt na na na na na na
Equity na na na na na na
Net 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 here

Key Financials

Revenues

11,607

Growth %

38.1%

EDITDA

1,681

Margin %

14.5%

Cash balance

3,067

Key Financials (£m) 2017A 2018A 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

Source: Public Company Information

£99.0

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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