Earlier this week Phoenix Group (LON:PHNX) announced a refinancing of its legacy debt facility to simplify the
debt and legal corporate structure.
The deal helps Phoenix:
- lowering debt cost and mandatory amortization;
- simplify the corporate and debt structure which could open up avenues for M&A.
Attractive Value:
- It's a very sustainable current dividend yield of c.8.0%
- It is trading at a 30% discount to 2014E MCEV/share
Overhanging regulatory concerns, but looks like a good prospect, especially for yield hunters.
