by Stephen Carter
Jun 17, 2021 8:48 AM ET
+++Corrects rating to Fitch (not S&P)+++
Punch Finance plc GBP600m 144A/Reg S sr sec notes due 2026 (5y). NC2. B3/--/B+ (stable/--/stable). Via Barc (B&D)/Natwest jt glocos and books. No reg rights. List ISE. NY law.
Px talk: 6.25% area.
Did investor call at 2pm UKT 06/15, 1x1s 06/16-17. Books close at 9am UKT tomorrow. Pricing tomorrow. 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.