Securitisation and Debt

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At the end of July 2005 Marston's PLC (formerly The Wolverhampton & Dudley Breweries PLC) announced the marketing of a £805m securitisation of approximately 70% of its managed and tenanted estate. On 5 August 2005, the Company announced that the terms of the securitisation had been finalised and terms agreed. The proceeds were raised on 9 August and were used to redeem £245m of debentures and also to replace existing bank facilities.

On 19 November 2007, Marston's announced a further issue of £330m of bonds into the market place. Following completion on 22 November 2007 the funds raised were used to repay bank debt.

The pubs within the securitisation are owned by Marston's Pubs Limited (formerly W & DB Pubs Limited), a 100% owned subsidiary of Marston's PLC (formerly The Wolverhampton & Dudley Breweries PLC), which has a financial year end of 30 September in line with the Group. The financial performance of the securitised pubs is published half yearly at the same time as the Group's results are announced in May and November each year. These results are available below and via Bloomberg under the ticker name "MARSLN".

Securitisation and Debt

2008

2007

2006