2nd Oct 2009 10:28
Punch Taverns plc (the "Company")
Punch Taverns announces that The Royal Bank of Scotland plc, as agent for the Company, will today despatch an Invitation Memorandum to holders of Class A8 notes within its Punch Taverns Finance B securitisation ("Noteholders"). The Invitation Memorandum provides that the Company will purchase, or will nominate another company to purchase, for cash certain of the Notes up to an aggregate cost of purchase of £100 million at or above a price of 80 per cent. of the par value of the Notes, as specified by Noteholders in compliance with the provisions of the Invitation Memorandum.
The purpose of this proposal is to continue the Company's ongoing deleverage programme.
This notice is given by:
Punch Taverns plc2 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