Premium Credit  7.0% 01 May 2021

Business Description

Premium Credit provides loans for individuals and companies, allowing them to spread payments for insurance and other financial products.

The group is the UK’s largest provider of insurance-premium finance with a market share of 60% and more than 2m customers.

Although the group’s main business is insurance, it has expanded into instalment plans for school fees and sports and leisure-club membership in recent years. It sells its products through about 3,000 brokers as well as insurers and Lloyd’s of London syndicates.

Bond Information

Coupon

7.0%

Maturity Date

01 May 2021

Next Interest Payment

01 May 2020

Interest Period

6 months

ISIN

XS1028955687

Asset Security

Unsecured

Amount

£200,000,000

Ratings

Moody's:  B1, Fitch:  B-

Call Schedule

01 May 2017 at 105.25
01 May 2018 at 103.5
01 May 2019 at 101.75
01 May 2020 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

Mizzen Bondco Ltd

Industry

Banks & Financials

Country of Origin

UK

Year of Incorporation

1986

Ownership Status

Private

Capital Structure

Senior Debt 33%

Equity 67%

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. EBITDA 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.

Based off multiple paid by Cinven in Feb 2015

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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