by Stephen Carter
May 20, 2025 6:11 AM ET
+++Updates UOP with bond tender info+++
Punch Finance plc (Punch Pubs) (PUBLN) GBP640m 144A/Reg S sr sec notes due 2030 (5.5y). NC2 (50%,25%,par). Expect B3/NR/B+ (positive/--/positve). Via Barc (B&D)/Natwest jt glocos and jt active books. No reg rights. List ISE. NY law.
IPT: 8.50% area.
Roadshow (virtual) 05/20-21 (investor call at 11am UKT 05/20). UOP: fund the tender offer for its GBP600m 6.125% sr sec notes due 06/30/26 (purcase price GBP1,000. Barc/NatWest dealer managers. Notes not tendered will be redeemed at par on 06/30/25), pay down in full amounts outstanding on its super sr revolver, which will be upsized by GBP15m to GBP85m. Equity sponsors: Patron Capital/May Capital. Biz: one of the leading UK pub companies. HQ: Burton upon Trent, UK.
Netroadshow: https://www.netroadshow.com/events/login?show=a8cf0977&confId=83147