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Marston's bondholders approve waiver request after pubs forced to shut

Fri, 26th Mar 2021 11:37

(Alliance News) - Marston's PLC on Friday said bondholders approved its request for waivers in the second half of this year, as its pubs have been closed since December under lockdown rules.

Holders of 93% of the value of secured class A notes voted in favour of the waivers, Marston's said. Earlier this month, the Wolverhampton-based company announced the request for "a limited number of further technical waivers of its financial covenant" because of the enforced closure of its pubs.

Marston's previously asked for waivers in May and November 2020, which were approved.

Shares were up 2.3% to 98.45 pence in London.

By Ivan Edwards; ivanedwards@alliancenews.com

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