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Bondholder News / Updates

A strategy for sustainable growth

Punch is a leading pub company in the UK with around 1,300 pubs. We have established a nationwide commercial property estate through selective acquisition and disposal, focusing primarily on freehold premises with sustainable cash generative potential, financed using listed debt.

Alongside the rental revenue from our estate, we have a strong income stream from wholesale product sales to the individual pub businesses run by our Publicans, in our premises.

Our business strategy is based on People (governance, industry standards, transparency), Pubs (locations, pub types and agreements) and Punch Support (business support, expertise, procurement, process efficiency, retail offer).

We are constantly working to improve the quality of each of our pubs and their consumer offer in a number of defined segments of the pub market.

This is achieved through the recruitment of high quality pub operators, their training and support, capital investment to develop the full potential of each outlet and the development of preferential supply agreements to maximise income.

Please address investor relations enquiries to investors@punchtaverns.com

Debt Information

Each quarter, information is provided on a confidential basis to the Rating Agencies (Moody’s, Fitch and Standard & Poors), Security Trustee and parties to our securitisation transaction.

This information includes confirmation of compliance with the covenants established under the securitisation structure. We recognise the importance of keeping our bondholders informed about the underlying performance of the businesses covered by the securitisation structure and therefore we make available these quarterly reports on this website.

Included on this site is a copy of the Offering Circular when the bonds were issued (such documents are directed at persons having professional experience in matters relating to investments), the quarterly reports and spreadsheets showing the financial history over the past three years. In line with information provided to Rating agencies etc. this information is unaudited and is extracted from our management information.

A pdf file showing the debt and interest profile for all our securitisations is available below.

Please address investor relations enquiries to investors@punchtaverns.com

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