Premier Foods (PFD)

Sector:

Food

Index:

FTSE 250

149.40p
   
  • Change Today:
    -0.60p
  • 52 Week High: 155.80
  • 52 Week Low: 113.20
  • Currency: UK Pounds
  • Shares Issued: 868.80m
  • Volume: 446,910
  • Market Cap: £1,297.98m
  • RiskGrade: 174

Premier Foods planning note redemption to save on interest

By Josh White

Date: Tuesday 26 May 2020

LONDON (ShareCast) - (Sharecast News) - Premier Foods has notified HSBC of its intention to redeem £80m of the £210m outstanding from its senior secured 5.0% plus LIBOR floating rate notes due July 2022, it announced on Tuesday.
The London-listed firm said that was in line with requirements of the indenture of the notes.

It said the partial redemption was further evidence of its "increasing momentum", adding that it was "clear demonstration" of its cash generating characteristics.

Following the completion of the partial redemption, the group said it expected to save more than £4m each year in interest costs.

"The group will continue on its deleveraging path, and as it does so, the options for cash deployment and capital allocation become greater," the Premier Foods board said in its statement.

Further to the certificate, the group confirmed that, under the terms of the indenture, £80m of the notes would be redeemed at par, plus accrued and unpaid interest up to but excluding the redemption date.

The redemption date is 17 June, and the record date is 16 June, the board confirmed.

"There are no other changes to the group's capital structure following this announcement.

"The group's £300m senior secured fixed rate notes due October 2023 and £176.6m committed revolving credit facility with its lending bank group are unchanged."

At 1521 BST, shares in Premier Foods were up 1.77% at 46p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Premier Foods Market Data

Currency UK Pounds
Share Price 149.40p
Change Today -0.60p
% Change -0.40 %
52 Week High 155.80
52 Week Low 113.20
Volume 446,910
Shares Issued 868.80m
Market Cap £1,297.98m
RiskGrade 174

Premier Foods Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
27.12% below the market average27.12% below the market average27.12% below the market average27.12% below the market average27.12% below the market average
28% below the sector average28% below the sector average28% below the sector average28% below the sector average28% below the sector average
Price Trend
85.71% above the market average85.71% above the market average85.71% above the market average85.71% above the market average85.71% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
50.57% below the market average50.57% below the market average50.57% below the market average50.57% below the market average50.57% below the market average
71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average
Growth
28.14% below the market average28.14% below the market average28.14% below the market average28.14% below the market average28.14% below the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Premier Foods Dividends

  Latest Previous
  Final Final
Ex-Div 29-Jun-23 30-Jun-22
Paid 28-Jul-23 29-Jul-22
Amount 1.44p 1.20p

Trades for 28-Mar-2024

Time Volume / Share Price
16:57 140 @ 149.49p
16:35 252,978 @ 149.40p
16:35 1,560 @ 149.40p
16:35 8,383 @ 149.40p
16:35 8,060 @ 149.40p

Premier Foods Key Personnel

CEO Alex Whitehouse
CFO Duncan Leggett

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