Punch Taverns PLC (PUB.L)
|Market Cap (Mil.):||£59.92|
|Shares Outstanding (Mil.):||665.73|
May 27 - British pub operator Punch Taverns Plc said on Tuesday that certain debtholders had proposed a restructuring that would likely reduce its 2.3 billion pound ($3.9 billion) debt pile by about 26 percent.
May 27 - Debt-laden British pub company Punch Taverns Plc said on Tuesday that certain stakeholders had proposed a restructuring of its securitisations that would likely reduce the company's debt by about 26 percent.
* Restructuring of securitisations is required in order to avoid a default in both Punch A and Punch B securitisations, which would be likely to have a material negative impact for all stakeholders
* Reached agreement to sell 4 pubs to Morgana Limited for a total consideration of £6.7 million
* At meetings held today, noteholders voted in favour of waiver requests.
April 15 - Troubled British pub company Punch Taverns Plc said it breached a debt covenant related to Punch A, one of its two securitisation vehicles, in the quarter ended March 1.
Feb 28 - Punch Taverns PLC : * Trading has continued in line with management expectations * Board remains of the view that a consensual restructuring is in the best
Feb 21 - (The following statement was released by the rating agency)
(Corrects to clarify there are three junior investors plus ABI Noteholder Committee)
LONDON, Jan 27 - Punch Taverns' creditors urged the British pub company on Monday to reopen negotiations over a restructuring of its debt, saying they would not support an earlier proposal to avoid a default.