Voyage Care  5.875% 01 May 2023

Business Description

Voyage Care are the leading provider of care services for adults with learning disabilities and other related complex and challenging support needs across the UK, measured in terms of beds.

The vast majority of people they support have life-long conditions and high acuity needs, which have been assessed as either ‘‘critical’’ or ‘‘substantial’’ by Local Authorities and PCTs and therefore require ongoing care services to help them look after themselves. The non-discretionary nature of such high acuity, long-term conditions, combined with the long average length of stay, provides them with visibility of expected occupancy levels and provides a degree of resilience to government spending pressures.

Bond Information

Coupon

5.875%

Maturity Date

01 May 2023

Next Interest Payment

01 May 2020

Interest Period

6 months

ISIN

XS1533911142

Asset Security

First ranking charge over company assets

Amount

£215,000,000

Ratings

S&P:  B+, Moody's:  B2

Call Schedule

01 May 2019 at 102.938
01 May 2020 at 101.469
01 May 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

Voyage Care Bondco plc

Industry

Healthcare

Country of Origin

UK

Year of Incorporation

None

Ownership Status

Private

Capital Structure

Senior Debt 58%

Junior Debt 9%

Equity 33%

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 Equity injected by owners Duke Street and Partners Group in 2013

Key Financials

Revenues

11,607

Growth %

38.1%

EDITDA

1,681

Margin %

14.5%

Cash balance

3,067

Source: Public Company 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.

Wisealph circle logo

Invest from just £100 per bond

We've liberated the corporate bond market for the everyday investor.



Capital at risk. No FSCS cover. See Risk Statement and FAQs.

Capital at risk. No FSCS cover.

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.