We collect cookies to analyze our website traffic and performance; we never collect any personal data.Cookies Policy
Accept
Michigan Post
Search
  • Home
  • Trending
  • Michigan
  • World
  • Politics
  • Top Story
  • Business
    • Business
    • Economics
    • Real Estate
    • Startups
    • Autos
    • Crypto & Web 3
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Beauty
    • Art & Books
  • Health
  • Sports
  • Entertainment
  • Education
Reading: Saga units sail with £450m HPS refinancing increase
Share
Font ResizerAa
Michigan PostMichigan Post
Search
  • Home
  • Trending
  • Michigan
  • World
  • Politics
  • Top Story
  • Business
    • Business
    • Economics
    • Real Estate
    • Startups
    • Autos
    • Crypto & Web 3
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Beauty
    • Art & Books
  • Health
  • Sports
  • Entertainment
  • Education
© 2024 | The Michigan Post | All Rights Reserved.
Michigan Post > Blog > Business > Saga units sail with £450m HPS refinancing increase
Business

Saga units sail with £450m HPS refinancing increase

By Editorial Board Published January 29, 2025 2 Min Read
Share
Saga units sail with £450m HPS refinancing increase

Saga, the monetary companies and journey supplier to the over-50s, is tapping one of many world’s greatest funding corporations as a part of a refinancing aimed toward relieving strain on its steadiness sheet.

Financiers mentioned an settlement was prone to be introduced alongside a scheduled buying and selling replace from the corporate on Thursday morning.

Cash newest: Individuals who solely watch Netflix or Disney ‘might must pay BBC licence payment’

The debt concerned within the deal contains a bond, a mortgage from chairman Sir Roger De Haan and Saga’s revolving credit score facility.

A refinancing shall be a lift to Saga, which has been weighed down by a debt pile which is large relative to the worth of its fairness.

It should come months after the corporate struck a partnership cope with the Belgian insurer Ageas, which entails a collection of money funds to the British enterprise.

In February final yr, it additionally held talks with Open, an Australian firm, a few sale of the division however the discussions fell aside.

Saga has beforehand signalled that it could discover an analogous partnership mannequin for its cruises division, though a transaction just isn’t regarded as imminent.

Shares in Saga have fallen by simply over 20% over the past 12 months, leaving it with a market capitalisation of about £165m.

Mr de Haan, the corporate’s former chief government, was parachuted again in to steer a turnaround in the summertime of 2020, investing £100m as a part of a broader capital-raising.

That got here after it spurned a takeover bid for the entire firm from personal fairness buyers.

A Saga spokesperson declined to touch upon Wednesday night.

TAGGED:450mboostHPSrefinancingSagasailsets
Share This Article
Facebook Twitter Email Copy Link Print

HOT NEWS

India hints it is going to preserve shopping for Russian oil – regardless of Trump threats

India hints it is going to preserve shopping for Russian oil – regardless of Trump threats

World
August 2, 2025
It is Miller time at Bellflower Excessive

It is Miller time at Bellflower Excessive

In the event you’re searching for a soccer staff that nearly definitely shall be improved…

August 2, 2025
Disappointment With Trump Elevating Critical Considerations Worldwide | Economics

Disappointment With Trump Elevating Critical Considerations Worldwide | Economics

QUESTION: This may occasionally appear to be a conspiracy concept, however has a double been…

August 2, 2025
Blake Snell is sharp in Dodgers return, however Rays get the win

Blake Snell is sharp in Dodgers return, however Rays get the win

TAMPA, Fla. — Blake Snell practically had a flawless return from the injured listing on Saturday afternoon.If…

August 2, 2025
Movies of emaciated Israeli hostage Evyatar David launched by Hamas

Movies of emaciated Israeli hostage Evyatar David launched by Hamas

Two movies of an emaciated Israeli hostage, Evyatar David, have been launched by Hamas, after…

August 2, 2025

YOU MAY ALSO LIKE

185-year-old Bridgerton costumier Angels screens buyers

One of many world’s main provider of costumes to stars of stage and display screen is in talks to safe…

Business
August 2, 2025

Quick-growing motor insurer Cuvva enlists bankers to discover sale

Cuvva, a fast-growing supplier of short-term motor insurance coverage, has drafted in advisers to discover a sale a decade after…

Business
August 1, 2025

US commerce conflict: The state of play as Trump indicators order imposing new tariffs – however there are extra delays

Donald Trump's commerce conflict has been tough to maintain up with, to place it mildly.For all of the threats and…

Business
August 1, 2025

Supreme Courtroom guidelines in lenders’ favour in automotive finance case – in blow to motorists

British banks and lenders have been spared an enormous invoice because the Supreme Courtroom has overturned a ruling that would…

Business
August 1, 2025

Welcome to Michigan Post, an esteemed publication of the Enspirers News Group. As a beacon of excellence in journalism, Michigan Post is committed to delivering unfiltered and comprehensive news coverage on World News, Politics, Business, Tech, and beyond.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 | The Michigan Post | All Rights Reserved

Welcome Back!

Sign in to your account

Lost your password?