UK pub retailer Greene King has closed an innovative securitisation that allows it unprecedented operational flexibility while reducing its funding costs.
The £600 million ($1.13 billion) deal securitises 904 of Greene King’s managed and tenanted pubs – the only deal on the market to include both assets – but is structured to allow for transfers in and out of that portfolio. This gives the company more operational flexibility than a usual whole business securitisation while still maintaining controls that satisfy rating agencies and investors.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
