RAC  5.0% 06 Nov 2022

Business Description

The RAC is headquartered in Birmingham with approximately 4,000 dedicated staff operating from four bases throughout the UK and provides motor-related services to both consumers and corporate clients. They have over 8.6 million members. The RAC offers vehicle and breakdown services through a nationwide, branded patrol force, focusing primarily on vehicle repair and recovery. They boast the world's most advanced computer systems to deal with roadside assistance calls.

In 2016, the RAC's patrol force attended to 2.4 million rescue breakdowns. In addition, the RAC provides motor insurance broking services and offers a suite of legal and motor claims services, which provide both consumers and corporate customers with legal cover and advice as well as a range of claims management services.

Bond Information

Coupon

5.0%

Maturity Date

06 Nov 2022

Next Interest Payment

06 May 2020

Interest Period

6 months

ISIN

XS1645523579

Asset Security

Second Lien, Whole Business Securitisation

Amount

£275,000,000

Ratings

S&P:  B

Call Schedule

14 Jul 2019 at 102.5
14 Jul 2020 at 101.25
14 Jul 2021 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

RAC Bond Co plc

Industry

Services

Country of Origin

UK

Year of Incorporation

1897

Ownership Status

Private

Capital Structure

Senior Debt 50%

Equity 50%

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, Press, Market supplements

* 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 equity purchase price paid in November 2014 by GIC for 50% stake.

Key Financials

Revenues

11,607

Growth %

38.1%

EDITDA

1,681

Margin %

14.5%

Cash balance

3,067

Source: Public information, Press reports, market reports. Financials updated for recent acquisitions and shown on a comparable basis for prior years

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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