Punch Taverns on Monday moved to address long-standing concerns about the condition of its balance sheet by launching a £375m share placing. The heavily indebted pub group said proceeds from the placing – which was done at a price of 100p, against a closing price of 148p last Friday – will be used to meet a critical £215m bond repayment due next year.

This entry was posted by Gwen Robinson on Tuesday, June 16th, 2009 at 5:19 and is filed under Capital markets. Tagged with Punch Taverns. Edit this entry.