Punch Taverns Bought Bonds
The leading pub and bar operator in the UK—Punch Taverns owns over 8400 pubs leased, tenanted and managed pubs in its management portfolio. In recent weeks, it has been gradually moving higher.
The tenanted pub group has bought back £15 million worth of outstanding bonds as part of its varied efforts to tackle its £4.5 billion debt pile. The company has also been selling off a number of its pubs in order to raise cash. Several hundred of its lessees are said to be interested in buying their pubs back from Punch.
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