NewDay  L+6.5% 01 Feb 2023

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

Business Description

NewDay is a leading UK consumer finance provider, specializing in the near-prime and co-brands sectors of the UK credit card market.

NewDay has two primary businesses, each of which focuses on specialist credit offerings within a different sector of the consumer credit market.

  1. Own-Brands: NewDay provides credit cards designed to meet the needs of customers in the near-prime sector of the UK credit card market. NewDay have issued credit cards in the Own-Brands business since 2002 and currently offer products under our aqua and marbles brands
  2. Co-Brands: In the Co-Brands business, which they acquired from Santander UK in May 2013, NewDay partner with well-known retail and consumer brands including Debenhams, House of Fraser, Laura Ashley and the Arcadia Group (namely, Topshop, Topman, Dorothy Perkins, Miss Selfridges, Wallis, Burton, Outfit and Evans) to provide co-branded credit cards and store cards to their partners’ customers. Based on the observed credit performance of the overall portfolio, they classify the Co-Brands portfolio as a prime portfolio. As of September 30, 2016, the Co-Brands business represented 38.8% of our gross receivables.

NewDay have recently partnered with the travel and tourism company, TUI, to launch the Thomson Credit Card and the online retailer, Amazon, to launch the Amazon Platinum Mastercard.

Bond Information

Coupon

L+6.5%

Maturity Date

01 Feb 2023

Next Interest Payment

03 Feb 2020

Interest Period

3 months

ISIN

XS1554449089

Asset Security

First ranking charge over company assets

Amount

£150,000,000

Ratings

S&P:  B, Moody's:  B1

Call Schedule

01 Feb 2018 at 101
01 Feb 2019 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

Company Legal Name

Nemean Bondco plc

Year of Incorporation

2001

Ownership Status

Private

Country of Origin

UK

Industry

Banks & Financials

Capital Structure

Senior Debt

23%

Equity

77%

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 RCF (£30m) na na na na na na
Senior Secured FRN £150m L+6.5% na na na na na na
Senior Secured Notes £275m 7.375% na na na na na na
Net Senior debt na na na na na na
Estimated Equity value na na na na na na
Net Capitalisation na na na na na na
             
EBITDA 119          
Cash Interest 31.20          

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.

Based on the purchase multiple by CVC in Q1 2017.

Key Financials

Revenues

11,607

Growth %

38.1%

EDITDA

1,681

Margin %

14.5%

Cash balance

3,067

Key Financials (£m) 2014A 2015A 2016A 2017A 2018A 9m 2018 9m 2019
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 n/a n/a n/a n/a n/a n/a

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.

Wisealph circle logo

Invest from just £100 per bond

We've liberated the corporate bond market for the everyday investor.



Capital at risk. No FSCS cover. See Risk Statement and FAQs.

Capital at risk. No FSCS cover.

Please note as a WiseAlpha member you are not lending directly to the corporate borrower. Instead, you are purchasing Fractional Bonds, each one backed by a specific bond. See Risk Statement.