Premier Foods  L+5.0% 15 Jul 2022

Business Description

Premier Foods is one of the UK's largest food producers, with approximately 95% of UK households buying one or more of their products every year.

The Company's segments include Grocery, Sweet Treats and International. The Grocery segment primarily sells savory ambient food products. The Sweet Treats segment sells sweet ambient food products.

Brands include Ambrosia, Angel Delight, Batchelors Soups, Bisto, Cadbury's cakes, Homepride, Lloyd Grossman, Lyons, Mr. Kipling, Oxo, Paxo and Sharwoods.

The business employs approximately 3,700 people and operates from 14 locations in the UK.

Bond Information

Coupon

L+5.0%

Coupon Type

Floating

Maturity Date

15 Jul 2022

Next Interest Payment

15 Jan 2020

Interest Period

3 months

ISIN

XS1619820324

Asset Security

Senior Secured

Amount

£210,000,000

Ratings

Moody's:  B2, Fitch:  B

Call Schedule

05 Jun 2018 at 101
05 Jun 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

Premier Foods Finance plc

Industry

Consumer & Food

Country of Origin

UK

Year of Incorporation

1800

Ownership Status

Public

Capital Structure

Senior Debt 64%

Equity 36%

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.

Based on the share price as at 17/04/19

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.

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.