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Business Description

Very Group is a leading UK online retailer, offering diverse products including fashion, electronics, and home goods. They prioritise convenient and accessible e-commerce experiences for customers.

Bond Information

Coupon
7.75%
15 Nov 2022
Repaid On
13 Aug 2021
Previous Payment
15 Nov 2022
Interest Period
6 months
XS1709298969
Senior Secured
£550,000,000
Moody's:  B3
Fitch:  B-
15 Nov 2019 at 103.875
15 Nov 2020 at 101.938
15 Nov 2021 at 100
Status
Repaid

* 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
Shop Direct Funding plc
Industry
Retail
Country of Origin
UK
Year of Incorporation
2005
Ownership Status
Private

Important News

10 Apr 2025

Very group is pleased to be able to share an update on the refinancing of our senior secured notes and revolving credit facility.

20 Mar 2024

Deloitte LLP has resigned as auditor of The Very Group Limited and its subsidiaries, having provided audit facilities for 11 years commencing with the audit of the 2011/12 financial year.

As part of the most recent full year audit, Deloitte requested more information relating to financing arrangements of companies in the wider shareholding group, which are audited by other firms or are unaudited. All the necessary information was provided by those other group companies and The Very Group Limited accounts were filed on time and with an unmodified audit opinion. Over the course of its 11-year tenure, Deloitte has consistently provided clean, unmodified audit opinions and The Very Group continues to perform strongly, reporting 10.1% growth in pre-exceptional EBITDA in H1 FY24. The Very Group will announce a new auditor in due course.

Statement of reasons provided by Deloitte:

‘During the course of our audit of the Company, we encountered difficulties with respect to the availability of and access to appropriate and relevant information in respect of certain financing arrangements between companies in the wider Group, which are either not audited by the same audit firm or are unaudited, to determine whether they impacted the Company. Whilst these difficulties were resolved, we have concluded that we wish to resign as auditors.’

The Very Group is grateful to Deloitte for its partnership and looks forward to sharing news of a new auditor in due course.

11 Jan 2022

Very delivers strong Christmas performance

16 Aug 2021

Response to recent market speculation

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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.