(Bloomberg) -- Bondholders betting U.K. pub companies Marston's Plc, Greene King Plc and Punch Taverns Plc will repay debt early to take advantage of new tax rules may be disappointed, according to Royal Bank of Scotland Group Plc.
Bonds secured by pub real estate have gained in the past six months on speculation the companies will buy back the securities as they convert to more tax-efficient real estate investment trusts. Pub companies reporting results during the next month are unlikely to announce plans to convert to REITs because of concerns the structure would restrict their business, said Michael Cox, a securitization analyst at RBS in London.
Read more at Bloomberg Bonds News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment