Securitisation and debt information
As at the end of April 2012 our borrowings comprised a £400m bank facility available until 2016, which was only partially drawn down, and a whole business securitisation comprising around £1.4 billion of debt in the form of tradable, listed bonds secured over the assets and cashflow of a majority of the pub-related parts of the business.
Securitisation
In March 2005 we completed a £600m securitisation, which was backed by just under half of our pubs at the time (both managed and tenanted). The funds were used to repay a short term loan facility taken out in August 2004 to help fund the acquisition of the Laurel Neighbourhood Estate.
In May 2006 we added a further £550m of bonds to this securitisation with proceeds used to repay short term banking facilities. As a consequence, approximately 70 per cent of the group's pubs became securitised.
We then undertook a further securitised fund raising in June 2008, issuing another £350m of bonds, the proceeds of which were used to repay existing banking facilities.
The pubs within the securitisation estate are owned by Greene King Retailing Limited, a 100 per cent owned subsidiary of Greene King plc, and which has a financial year end in line with the rest of the group. Financial performance statistics for the securitisation pubs will be released half-yearly in July and December.
Circulars, reports, accounts and announcements
Offering circulars
| Offering circulars March 2005 (PDF 1.3MB) |
| Offering circulars May 2006 (PDF 1MB) |
| Offering circulars June 2008 (PDF 1.8MB) |
Interim Investor Report for the period to 14 October 2012
Final Investor report for the period to 29 April 2012
Interim Investor Report for the Period to 16 October 2011
Final Investor Report for the Period to 1 May 2011
Interim Investor Report for the Period to 17 October 2010
Final Investor Report for the Period to 2 May 2010
Interim Investor Report for the Period to 18 October 2009
Final Investor Report for the Period to 3 May 2009
Interim Investor Report for the Period to 19 October 2008
Final Investor Report for the Period to 4 May 2008
Interim Investor Report for the Period to 14 October 2007
Final Investor Report for the Period to 29 April 2007
Interim Investor Report for the Period to 15 October 2006
Final Investor Report for the Period to 30 April 2006
Interim Investor Report for the period to 16 October 2005
Final Investor Report for the Period to 1 May 2005
Annual report
Visit our online annual report for more on our business and financial performance.
Reports and results
Access our latest reports and results announcements, and browse our archive.
Financial calendar
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