06/18/2021 Punch Finance plc GBP600m 144A/Reg S sr sec notes due 06/30/26 (5y). NC2, then at 103.063, 101.531, 100. B3/--/B+ (stable/--/stable). Via Barc (B&D)/Natwest jt glocos and books. No reg rights. List ISE. NY law. Settles 06/24 (T+4). Reg S ISIN: XS2357307664. Px talk: 6.25% area. Priced: 6.125% at 100. +572.3bp vs UKT 1.50% 07/22/26.
Did investor call at 2pm UKT 06/15, 1x1s 06/16-17. Books closed at 9am UKT 06/18. UOP: along with cash on hand, to repay existing debt. Equity sponsors: Patron Capital/May Capital. Biz: one of the leading UK pub companies. HQ: Burton upon Trent, UK.