1st Oct 2008 09:15
Punch Taverns plc
(the 'Company')
Punch Taverns announces that it is today issuing an invitation memorandum to holders of Class A3(N) notes within its Punch Taverns Finance securitisation. The memorandum sets out that the Company will purchase, or will procure another group company to purchase, bonds at 95% of the par value of the bonds if invited to by existing bondholders. The par value of the outstanding bonds is £93.5m.
The purpose of this proposal is to more efficiently manage existing cash resources.
1 October 2008
Enquiries:
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Punch Taverns plc |
01283 501728 |
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Giles Thorley, Chief Executive |
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Phil Dutton, Finance Director |
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Ed Bashforth, Head of Corporate Finance |
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College Hill |
020 7457 2020 |
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Justine Warren |
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Matthew Smallwood |
Related Shares:
Punch Taverns PLC