9th Oct 2009 13:52
Punch Taverns plc (the "Company")
Punch Taverns announces the results of an invitation to tender, made in an Invitation Memorandum sent on 2 October 2009 to holders ("Noteholders") of the Class A8 Secured Floating Rate Notes due June 2033 issued by Punch Taverns Finance B Limited (the "Notes"). This provided that the Company would purchase, or would nominate another company to purchase, for cash certain of the Notes up to an aggregate cost of purchase of £100,000,000 at or above a price of 80 per cent. of the par value of the Notes.
The invitation to tender has been oversubscribed such that £148,937,000 in outstanding principal amount of such Notes were offered for sale. Pursuant to the terms of the Invitation Memorandum, the Company or its nominee has accepted for purchase £102,154,000 in outstanding principal amount of such Notes at an average cost of 97.9 per cent. of the par value of the Notes.
This notice is given by:
Punch Taverns plc9 October 2009
Enquiries:
Punch Taverns plc +44 (0)1283 501600Giles Thorley Chief Executive Officer Phil Dutton Chief Financial Officer Ed Bashforth Head of Corporate Finance
The Royal Bank of Scotland plc +44 (0)20 7085 8056/3781 [email protected] Andrew Burton Gianmarco Deiana
Smithfield Group +44 (0)20 7360 4900 John Kiely Alex Simmons
Related Shares:
Punch Taverns PLC