News

UK: W&DB switches debt structure

Most popular

How will Diageo change Cuban rum?

How DNA testing will shape the future of drinking

Why rye whisky is set to go global - Comment

Constellation Brands Performance Trends 2015-2019

Blockchain in drinks traceability and beyond

MORE

Wolverhampton & Dudley Breweries is looking to change the structure of its outstanding debt. The UK company said yesterday (11 July) that it will switch its debt to a mostly securitised set-up of up to GBP805m (US$1.4bn).

The deal, allowing W&DB to borrow money against future income from its pubs, will allow the company to cut interest costs and gain more financial flexibility.

Late last week, the brewer and pub owner proposed selling securitised bonds of between GBP530m and GBP805m. The bonds would be repaid with income from 70% of W&DB's 1,592 managed and tenanted pubs.

Speaking to Reuters, finance director Paul Inglett said: "This proposed refinancing of our existing debt will reduce interest costs and is consistent with our strategy of retaining the high quality freehold asset base of business, whilst providing greater flexibility for further development."

Inglett would not disclose to Reuter what W&DB's existing outstanding debt currently stands at.


Related Content

UK: Fuller's bid for Capital Pub Co turns ugly

UK: Fuller's bid for Capital Pub Co turns ugly...

Lucozade Ribena Suntory's edible packaging Ooho secures government funds

Lucozade Ribena Suntory's edible packaging Ooho secures government funds...

Whisky Illuminati’s Solaria Series - Product Launch

Whisky Illuminati’s Solaria Series - Product Launch...

"TWE could be an acquirer of other people's wine businesses" - just-drinks speaks to Treasury Wine ...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?