Punch Taverns plans to redeem all of its outstanding notes on Oct. 4

By Sarah Lizee

Olympia, Wash., Sept. 27 – Punch Taverns Finance plc plans to redeem all of its outstanding notes on Oct. 4, according to three notices from the issuer.

The following notes will be redeemed with accrued interest up to and including the redemption date:

• £123,374,000 of super senior hedge notes due 2021;

• £299,991,000 of class M3 floating-rate secured notes due Oct. 15, 2027;

• £202.5 million of class A1(F) fixed-rate secured notes due 2026;

• £67,482,000 of class A1(V) fixed-rate secured notes due 2026;

• £137,366,280 of class A2(F) fixed-rate secured notes due 2025; and

• £45,781,000 of class A2(V) fixed-rate secured notes due 2025.

The hedge notes and the class M3 notes will be redeemed at par, while the class A1(F), A1(V), A2(F) and A2(V) notes will be redeemed at 129.021%, 141.148%, 124.426% and 138.446% of par, respectively.

Punch Taverns is a pub company based in Burton on Trent, England.

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