Stonegate  4.875% 15 Mar 2022

Description Bond Information Company Information Capital Structure Key Financials Reports News & Stories

Business Description

Stonegate operate over 690 pubs and bars across the UK, within a wide variety of formats: from community and high-street pubs, through branded bars, to country inns and late-night venues. Stonegate is the second largest managed pub operator on the high street, with 76% of its pubs being located in town centres.

Brands operated by Stonegate include:

  • Walkabout, Australian themed bars with the best seats for watching sport to the ultimate party venues, chilled places to meet up and get stuck into our Aussie food.
  • Classic Inns, Classis Inns are destination suburban pubs, combining a traditional pub environment with a premium food and drink experience
  • Proper Pubs, Traditional pubs at the centre of every community. A warm and welcoming place to socialise for a quiet pint, family lunch or a weekend night out.
  • Town Pub & Kitchen, Modern, independent-feel high-street pubs- open for breakfast and trading late, these sites provide a premium food and drink experience.
  • Slug and Lettuce, Stylish, branded high street bars. Slug and Lettuce prides itself on fantastic cocktails, premium food and a wonderful atmosphere throughout the day and night.
  • Venues, From lively Latino to classic pop anthems, our eclectic group of stunning late-night ventures offers a unique experience for those looking to party into the early hours.
  • Common Room, The perfect ‘hang-out’ any time of day. A collection of distinctive pubs, famed for great coffees, craft ales, street food and sport.

Bond Information

Coupon

4.875%

Maturity Date

15 Mar 2022

Next Interest Payment

15 Mar 2020

Interest Period

6 months

ISIN

XS1575503146

Asset Security

First ranking charge over company assets

Amount

£405,000,000

Ratings

S&P:  B-, Moody's:  B2

Call Schedule

15 Mar 2019 at 102.438
15 Mar 2020 at 101.219
15 Mar 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

Stonegate Pub Company Financing plc

Year of Incorporation

2014

Ownership Status

Private

Country of Origin

UK

Industry

Property

Capital Structure

Senior Debt

81%

Equity

19%

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
RCF na na na na na na
Senior Secured £190m FRN due 2022 na na na na na na
Senior Secured £405m Notes due 2022 na na na na na na
Senior Secured £150m FRN due 2022 na na na na na na
Net Senior Secured Debt na na na na na na
Equity na na na na na na
Net Capitalisation na na na na na na
             
EBITDA 127.90          
Cash Interest 40.30          

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 7.1x EBITDA multiple TDR paid for Stonegate

Key Financials

Revenues

11,607

Growth %

38.1%

EDITDA

1,681

Margin %

14.5%

Cash balance

3,067

Key Financials (£m) 2014A 2015A 2016A 2017A 2018A 6m 2018 6m 2019
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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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