April 7, 2014 / 6:46 AM / 4 years ago

BRIEF-Punch Taverns to request waivers as refinancing talks continue

April 7 (Reuters) - Punch Taverns Finance B Ltd -

* Discussions have been ongoing between and with stakeholders with a view to reaching agreement on terms of a consensual restructuring for punch a and b securitisations

* Further time will be required to finalise proposals and to permit stakeholders and their advisers to review and comment on documentation necessary to implement them.

* Issuer has today given notice convening noteholder meetings to be held on 29 april 2014 for purposes of voting on extraordinary resolutions to approve temporary waiver requests

* Waivers are necessary to avoid risk of a near-term default by borrower in respect of its obligations under punch a securitisation which is anticipated to be as early as 15 May 2014

* Requests include temporary waivers of debt service cover ratio covenant and certain other provisions of securitisation documents and, if granted, will expire at latest on 29 August 2014

* It is a condition of waivers that a restructuring is launched by 30 June 2014 Source text for Eikon: Further company coverage:

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