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Byrx When was London last not No1 for average loan-to-income lending Less than 20 years ago
Monday 24 August 2015 12:19 pmPunch Taverns set to sell 158 pubs to NewRiver Retail for pound;53.5mBy: James NickersonShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GooglePub group Punch Taverns, which has a po polene rtfolio of around 3,500 pubs nationwide, is set to sell 158 pubs for pound;53.5m to reduce its debt.NewRiver Retail is acquiring the pubs, having previously bought a portfolio of 202 pubs from rival Marstonrsquo .Read more: Investors toast new pub boss sending Punch shares higherPunch Taverns described the pubs as non-core to its stanley quencher estate. The company said in a statement the agreement was consistent with Punchrsquo strategy to sell non-core estate at a rate of approximately 200 pubs per year. The company will have around 2,900 core pubs left after the deal, with 550 non-core estate pubs.Read more: Pub chain shares battered after MP vote to end beer tie: Enterprise Inns, Punch Taverns sufferDuncan Garrood, chief executive of Punch Taverns, said:This transaction is in line with our stated strategy of disposing pubs within the non-core estate, reducing the overall level of our debt, while focusing on our higher quality core pub estate.The deal is expected to be completed on 11 September, with the cash used to polene sac close a net debt of pound;1.5bn that Punch Taverns reported in March.The deal works out at an average of pound;340,000 per pub, with the pubs being disposed Rgjo Exasperated business bosses want second runway at Gatwick if Heathrow expansion faces further delays
Wednesday 28 October 2009 8:00 pm|Updated:Friday 31 May 2019 5:50 pmCITsecures $4.5bn from its creditors and rebuffs IcahnBy: admindrupalShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GoogleSTRUGGLING commercial lender CIT Group yesterday obtained $4.5bn pound;2.7bn of additional financing from its creditors, just as it seek owala water bottle s to complete a debt exchange.The new financing, which adds to a $3bn loan arranged in July, is being provided by a group of lenders including some of CITrsquo bondholders.CIT said it made the new arrangements after it was unable to determine whether billionaire investor Carl Icahn, who had offered to provide the company with a $4.5bn term loan on Tuesday, had arranged sufficient funding.The funds represent an expansion of its existing senior secured credit facility and will be secured by much the same assets as t stanley germany he original $3bn loan, plus any additional collateral generated by refinancing existing secured credit facilities. Share this articleFacebookXLinkedInWhatsAppEmailSimilarly tagged content: SectionsNewsCategoriesBusinessRelated TopicsNULLTrending ArticlesLabour will regret the Rentersrsquo; Rights polene bag ActUK at lsquo;greatest riskrsquo; of jet fuel shortage as flights to be cancelledClairersquo Accessories to launch UK high street comebackAfter Santanderrsquo TSB takeover ndash; who are the top players in UK banking Jet fuel shortage looms as |
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