RESTRUCTURING

摘要

Punch reiterated last Friday morning that a failure to agree a consensual restructuring will have serious negative implications for its securitisation programme. It had cancelled a February 14 investor meeting, extending the time for discussion, but warned that either one or both WBS deals will fail their DSCR financial covenant test on March 1, the results of which were to be reported on April 15. The UK pub group's trading figures are in line with management expectations, it said today, with core estate like-for-like net income for the first half of the year expected to be in line with the 1.5% growth reported for the first 20 weeks to January 14 2014.