16th May 2007 14:00
Punch Taverns PLC16 May 2007 PUNCH TAVERNS PLC("Punch" or "the Group") Punch Taverns announces that following separate meetings held yesterday of theclass A2 & B noteholders within the Avebury securitisation, at which bothclasses of noteholders approved a proposal to modify the amount payable upontheir optional redemption, it has been decided to redeem the A2 and B notes onthe interest payment date on 21 May 2007. A redemption notice for the class A1notes was issued on 20 April 2007. Approximately £104 million in principal amount of Class A1, A2 and B notes iscurrently outstanding which will be redeemed in full on 21 May 2007. Theredemption is being financed out of short term bank borrowings and existing cashresources. 16 May 2007 Issued by:Neil Preston Company Secretary Enquiries Punch TavernsNeil Preston Company Secretary Tel: 01283 501751 College Hill Tel: 020 7457 2020Justine Warren This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Punch Taverns PLC