The 'Pension Insurance Corporation' is a UK based specialist insurance company, focused on securing the risks associated with defined benefit pension funds in the UK.
As of 2018, the company had £31.4bn of financial investments and insured 192,100 pension fund members across 180+ pension funds. The Abu Dhabi Investment Authority (“ADIA”), which manages as much as $875 billion, recently took a 21% stake in the company.
8.0%
6.4%*
3.8%*
23 Nov 2026
Next Interest Payment
23 Nov 2020
Interest Period
12 months
XS1523966197
Unsecured
£350,000,000
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 Legal Name
Industry
Banks & Financials
Country of Origin
UK
Year of Incorporation
2006
Ownership Status
Private
Senior Debt 18%
Junior Debt 37%
Equity 45%
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 |
£300m Unsecured Notes 6.5% | na | na | na | na | na | na |
£250m Unsecured Notes 8.0% | na | na | na | na | na | na |
£350m Unsecured Notes 5.625% | na | na | na | na | na | na |
Net Senior Debt | na | na | na | na | na | na |
£450m Perpetual Bond | na | na | na | na | na | na |
Net Debt | na | na | na | na | na | na |
Equity Book Value | na | na | na | na | na | na |
Net Capitalisation | na | na | na | na | na | na |
EBITDA | 454 | |||||
Cash Interest | 91.80 |
Source: Public company information. PBIT used for calculations is last 12 months.
* 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.
Revenues
11,607
Growth %
38.1%
EDITDA
1,681
Margin %
14.5%
Cash balance
3,067
Key Financials (£m) | 2015A | 2016A | 2017A | 2018A |
---|---|---|---|---|
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
£125.0
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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.
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