Miller Homes  5.5% 15 Oct 2024

Business Description

Established in 1934 and the largest privately-owned housebuilder in the UK, Miller Homes has a strong regional footprint through three divisions (Midlands & South, North, and Scotland) and a reputation for delivering quality, family homes in desirable and high demand locations.

The company focuses on sustainable developments on the edge of urban or suburban areas, typically within 45 minutes of the nearest largest town or city and is recognised for providing outstanding levels of customer service. In 2016, the company completed a total of 2,380 homes.

For the six months ended 30 June 2018, the company reported a 11% increase in operating profit to £70.5m (H1 2017: £63.5m).

Bond Information

Coupon

5.5%

Maturity Date

15 Oct 2024

Next Interest Payment

15 Apr 2020

Interest Period

6 months

ISIN

XS1689521125

Asset Security

First ranking charge over company assets

Amount

£250,000,000

Ratings

S&P:  BB-, Fitch:  BB

Call Schedule

15 Oct 2020 at 102.75
15 Oct 2021 at 101.375
15 Oct 2022 at 100

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

Industry

Housebuilders & Construction

Country of Origin

UK

Year of Incorporation

1934

Ownership Status

Private

Capital Structure

Senior Debt 57%

Equity 43%

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

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.

Equity Book Value

Key Financials

Revenues

11,607

Growth %

38.1%

EDITDA

1,681

Margin %

14.5%

Cash balance

3,067

Source: Public Company Information

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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