Punch Taverns  7.75% 30 Dec 2025

Business Description

Punch Taverns is a UK pub and bar operator with a diverse range of 1,300 high quality pub businesses. It was listed on the London Stock Exchange as a constituent of the FTSE SmallCap Index until its sale in 2016 to Patron Capital.

December 2016 Punch Taverns accepted a takeover bid of £403m with 1,900 pubs being sold to Heineken International for £305m and the remaining 1,300 pubs, as well as the company's liabilities, being taken over by Patron Capital.

Bond Information

Coupon

7.75%

Maturity Date

30 Dec 2025

Next Interest Payment

30 Dec 2019

Interest Period

3 months

ISIN

XS1114385955

Asset Security

Unsecured

Amount

£72,911,000

Ratings

Unrated

Call Schedule

Callable any time

Status

Payments on time

* Current Yield and Yield to Maturity are on estimated return calculations and not guaranteed. All yields shown are gross of Taxation and our Service Fee.

Company Information

Industry

Property

Country of Origin

UK

Year of Incorporation

1997

Ownership Status

Private

Capital Structure

Senior Debt 58%

Junior Debt 11%

Equity 31%

Cash

-1.2%

Senior Notes (combined)

6.2%

Content Liabilities

12.0%

Net Debt

17.0%

Equity

83.0%

Enterprise Value

100.0%

EDITDA

£883,000,000

Cash interest

£226,400,000

Source: Source: Company Reports

* An asterisk next to an item indicates there is additional information available if you hover over it. You can also find a definition of the terms used on this page in our Glossary.

Implied Equity is Enterprise Value - Net Debt

Enterprise Value is calculated as 10x trailing 12month EBITDA, which is the multiple at which Patron Capital acquired Punch Taverns on December 2016.

Key Financials

Revenues

11,607

Growth %

38.1%

EDITDA

1,681

Margin %

14.5%

Cash balance

3,067

Source: Source: Company Reports

Reports & Information

Throughout our site you will find links to external websites. Although we make every effort to ensure these links are accurate, up to date and relevant, we cannot take responsibility for pages maintained by external providers.

Throughout our site you will find links to external websites. Although we make every effort to ensure these links are accurate, up to date and relevant, we cannot take responsibility for pages maintained by external providers.

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