Worldwide Flight Services  6.75% 15 Aug 2023

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

Business Description

Worldwide Flight Services, INC. (WFS) offers aircraft ground support services. The Company provides services such as cargo handling, global cargo logistics, cargo facilities management, training and safety, cargo documentation and handling, aircraft capacity management, security processing and live animal management. WFS serves customers worldwide.

Bond Information

Coupon

6.75%

Maturity Date

15 Aug 2023

Next Interest Payment

15 Feb 2020

Interest Period

6 months

ISIN

XS1860216909

Asset Security

Senior Secured

Amount

€400,000,000

Ratings

S&P:  B, Moody's:  B2

Call Schedule

15 Aug 2020 at 103.375
15 Aug 2021 at 101.688
15 Aug 2022 at 100

Status

Payments on time

Company Information

Company Legal Name

Promontoria Holding 264 B.V.

Year of Incorporation

1971

Ownership Status

Private Limited Company

Registered Location

UK

Industry

Business Services, Shipping & Logistics

* 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.

Capital Structure

Senior Debt

58%

Equity

42%

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
Other Debt na na na na na na
RCF na na na na na na
Finance Leases na na na na na na
€400m Senior Secured Notes na na na na na na
€220m Senior Secured FRN na na na na na na
Net Debt na na na na na na
Equity Value na na na na na na
Net Capitalisation na na na na na na
             
EBITDA na          
Cash interest na          

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 here

Capital structure EBITDA is proforma, including adjustments for discontinued operations, earnings from the acquisition of joint ventures with WFS Ireland and savings from group initiatives.

Based on €1.2bn paid by Cerberus Capital in 2018. SOURCE: Bloomberg

Key Financials

Revenues

11,607

Growth %

38.1%

EDITDA

1,681

Margin %

14.5%

Cash balance

3,067

Key Financials (€m) 2016A 2017A 2018A 3m 2018 3m 2019
n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a
n/a n/a n/a n/a n/a n/a

Source: Public Company information

€94.25

Market Price

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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