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Pin to quick picksSaga Share News (SAGA)

Share Price Information for Saga (SAGA)

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Share Price: 120.00
Bid: 118.20
Ask: 123.20
Change: 0.00 (0.00%)
Spread: 5.00 (4.23%)
Open: 120.00
High: 120.00
Low: 120.00
Prev. Close: 120.00
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Saga said to be in talks over £170m debt package

Mon, 22nd Feb 2021 07:46

(Sharecast News) - Saga, which specialises in products for the over-50s, is reportedly in talks about a £170m debt package as it looks to weather the coronavirus pandemic.
According to Sky News, the company - which last year rejected a takeover offer- has begun talks with a group of debt funds about refinancing part of its existing borrowings. Sky cited City sources as saying that Saga was considering trying to secure the new debt against its insurance arm, which is the stronger of its two businesses.

The talks with existing prospective lenders are some way from being concluded, according to insiders, and may not result in a deal, Sky said.

In a trading update at the end of last month, Saga said: "Whilst the group has significant liquidity and headroom to the current covenants in short term bank facilities, given the backdrop of continued disruption to the travel business, we are taking actions to further enhance financial flexibility.

"We have commenced constructive discussions with lenders, who remain supportive. We are reviewing the covenants attached to our term loan and revolving credit facility, to increase flexibility ahead of the resumption of travel. As part of a package of measures available for the cruise industry, separate discussions are underway in relation to a further debt deferral and covenant waiver for the two ship facilities."

At 0810 GMT, the shares were down 3.8% at 287.34p.

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TOP NEWS: AG Barr hires former Saga and Superdry chief as new CEO

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30 Jan 2024 11:33

IN BRIEF: Saga says annual revenue and underlying profit up strongly

Saga PLC - London-based provider of insurance and travel services for people aged 50 and over - Expects to report revenue growth of between 10% and 15% for the financial year ending on Wednesday, as well as underlying pretax profit more than doubled from the year before. For financial 2023, Saga had booked GBP581.1 million in revenue and GBP21.5 million in underlying pretax profit. Saga on Tuesday says Ocean Cruise revenue growth is estimated to be 30% with an 87% load factor. Saga repeats that it is considering ways to "optimise" the Ocean Cruise business, including with partnerships.

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Saga says annual profit set to more than double

(Sharecast News) - Saga said on Tuesday that it expects full-year underlying pre-tax profit to more than double on the previous year as it hailed an "outstanding" year for the cruise and travel businesses.

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26 Jan 2024 16:21

London close: Stocks finish higher as US inflation cools

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26 Jan 2024 09:52

SMALL-CAP WINNERS & LOSERS: Saga mulls partnership for Cruise arm

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26 Jan 2024 08:25

Saga confirms partnership deal for Ocean Cruise arm may be on horizon

(Alliance News) - Saga PLC on Friday said it is open to partnering up in order to "optimise" its cruise ship offering as it looks to bolster its balance sheet.

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Saga considering partnership arrangement for cruise business

(Sharecast News) - Saga said on Friday that is considering options for its cruse business, including a partnership arrangement.

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23 Jan 2024 14:32

UK earnings, trading statements calendar - next 7 days

Wednesday 24 January 
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Pets at Home Group PLCTrading Statement
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Saga PLCTrading Statement
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SThree PLCFull Year Results
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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9 Jan 2024 16:35

UK earnings, trading statements calendar

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11Jan24Marks & Spencer Group PLCTrading Statement
11Jan24MJ Gleeson PLCTrading Statement
11Jan24Reach PLCTrading Statement
11Jan24Robert Walters PLCTrading Statement
11Jan24Taylor Wimpey PLCTrading Statement
11Jan24Tesco PLCTrading Statement
11Jan24Trustpilot Group PLCTrading Statement
11Jan24Whitbread PLCTrading Statement
11Jan24XP Power LtdTrading Statement
12Jan24no events scheduled 
15Jan24Ashmore Group PLCTrading Statement
15Jan24Assura PLCTrading Statement
15Jan24Hercules Site Services PLCFull Year Results
15Jan24PageGroup PLCTrading Statement
15Jan24Ramsdens Holdings PLCFull Year Results
15Jan24RS Group PLCTrading Statement
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16Jan24Alliance Pharma PLCTrading Statement
16Jan24CAB Payments Holdings PLCTrading Statement
16Jan24Card Factory PLCTrading Statement
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16Jan24DFS Furniture PLCTrading Statement
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16Jan24Ocado Group PLCTrading Statement
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16Jan24THG PLCTrading Statement
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17Jan24Antofagasta PLCTrading Statement
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Copyright 2024 Alliance News Ltd. All Rights Reserved. 

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28 Nov 2023 09:51

Saga CEO to depart after guiding over-50s firm through pandemic

(Alliance News) - Saga PLC on Tuesday said Chief Executive Officer Euan Sutherland will depart at the end of January, having led the travel and insurance company through the Covid-19 pandemic.

Read more

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