Punch Taverns May Start Debt Talks After Olympics, FT Reports

Punch Taverns Plc (PUB) may start talks with creditors to restructure debt after the Summer Olympics, the Financial Times said, citing an unidentified person familiar with the situation.

Beer sales will probably rise in the U.K., where the company has about 5,000 pubs, during the London Olympics and the European football championships, the FT said. Punch’s revenue during the period will probably determine how much of a discount creditors will have to accept on about 2.5 billion pounds ($4.04 billion) of bonds, the newspaper said.

A spokeswoman for Punch Taverns, Sophie Brand, declined to comment on the FT report.

To contact the reporters on this story: Ambereen Choudhury in London at achoudhury@bloomberg.net

To contact the editors responsible for this story: Edward Evans in London at at eevans3@bloomberg.net

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