Legal DealFolio - Punch Taverns Securitisation Programme Restructuring

Slaughter and May is advising Punch Taverns PLC (Punch) on its proposed capital restructuring for the Punch A and Punch B securitisation structures. The full terms of the capital restructuring of GBP2.3 billion of Punch's debt, which were announced on 15 January 2014, modify the proposals announced on 9 December 2013, and represent the culmination of 14 months of extensive stakeholder engagement. Slaughter and May has been advising Punch throughout this period. The restructuring is conditional upon the approval of the Punch A and Punch B securitisation noteholders at meetings of the Issuer companies and the approval of certain other securitisation creditors. Noteholders will be asked to vote on the restructuring on 14 February 2014. Goldman Sachs International and The Blackstone Group International Partners LLP are acting as financial advisers to Punch in connection with the capital restructuring. Financing: Guy OKeefe (partner), Ed Fife (partner), Oliver Storey (associate), Harry Bacon (associate), Matthew Podger (associate), Thomas Jemmett (associate), John Hugkulstone (associate), Brandon Ovington (associate), Akshay Kundaiker (associate), Thomas Vickers (associate), Richard Bulmore (associate); Corporate and Commercial: David Johnson (partner), Victoria Scopes (associate), Emma Plaxton (associate), Alexander Dustan (associate); Restructuring and Insolvency: Ian Johnson (partner), Richard de Carle (partner), Sarah Paterson (special adviser); Tax: Sara Luder (partner), Thomas Jarvis (associate), Venetia Jennings (associate), Michael Ringer (associate).

Deal Date:	15-01-2014	Practice Area:	Debt Capital Markets
Deal Title:	Punch Taverns Securitisation Programme Restructuring	Industry:	Travel & Leisure
Description:	Slaughter and May is advising Punch Taverns PLC (Punch) on its proposed capital restructuring for the Punch A and Punch B securitisation structures. The full terms of the capital restructuring of GBP2.3 billion of Punch's debt, which were announced on 15 January 2014, modify the proposals announced on 9 December 2013, and represent the culmination of 14 months of extensive stakeholder engagement. Slaughter and May has been advising Punch throughout this period. The restructuring is conditional upon the approval of the Punch A and Punch B securitisation noteholders at meetings of the Issuer companies and the approval of certain other securitisation creditors. Noteholders will be asked to vote on the restructuring on 14 February 2014. Goldman Sachs International and The Blackstone Group International Partners LLP are acting as financial advisers to Punch in connection with the capital restructuring. Financing: Guy OKeefe (partner), Ed Fife (partner), Oliver Storey (associate), Harry Bacon (associate), Matthew Podger (associate), Thomas Jemmett (associate), John Hugkulstone (associate), Brandon Ovington (associate), Akshay Kundaiker (associate), Thomas Vickers (associate), Richard Bulmore (associate); Corporate and Commercial: David Johnson (partner), Victoria Scopes (associate), Emma Plaxton (associate), Alexander Dustan (associate); Restructuring and Insolvency: Ian Johnson (partner), Richard de Carle (partner), Sarah Paterson (special adviser); Tax: Sara Luder (partner), Thomas Jarvis (associate), Venetia Jennings (associate), Michael Ringer (associate).
Financial Center:	London	Value:	1000.01-5000.00
Advised Party:	Originator	Law Firm	Slaughter and May
Assets Jurisdiction	United Kingdom	Issuer Jurisdiction	United Kingdom
Classification:	Securitisation and Structured Finance Corporate Securitisation	Lawyer	Guy OKeefe

Practice Areas -

Debt Capital Markets Law Firms and Lawyers

Practice Areas - Debt Capital Markets Law Firms and Lawyers