Punch bondholders stake claim for equity swap deal

By Tom Porter
29 May 2014

Investors holding more than one-third of Punch Taverns’ whole business securitizations this week proposed a debt-for-equity swap in the latest bid to restructure the debts of the stricken UK pub group.

The company’s shares plummeted 30% to just over 10p on Tuesday after it revealed a group of creditors representing 34% of the notes across Punch A and Punch B, over 50% of junior notes in both securitizations and the equity share capital of Punch have agreed in principle ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial

Want to learn more? View subscription options