Together  6.125% 15 Jan 2024

Business Description

Established in 1974 Together is a specialist lender to niche markets offering short-term finance, auction finance, residential, buy-to-let and commercial mortgages, and secured loans.

Together has grown every year for 45 years to become one of the most profitable and financially stable businesses in the North West.The company has more than 500 employees and a loan book topping £3.2 billion.

Bond Information

Coupon

6.125%

Maturity Date

15 Jan 2024

Next Interest Payment

15 Jan 2020

Interest Period

6 months

ISIN

XS1568913559

Asset Security

First ranking charge over company assets

Amount

£350,000,000

Ratings

S&P:  BB-, Fitch:  BB

Call Schedule

15 Jan 2020 at 103.062
15 Jan 2021 at 101.531
15 Jan 2022 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

Jerrold Finco plc

Industry

Banks & Financials

Country of Origin

UK

Year of Incorporation

1974

Ownership Status

Private

Capital Structure

Senior Debt 25%

Junior Debt 12%

Equity 63%

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 £12.6x purchase multiple paid by the founders to buy out the 30% stake previously held by Standard Life and Equistone.

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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