Issue of up to £20 million sterling denominated secured 7.2% bonds.
Bruce Pubs Plc (Bruce or the Company) has announced its successful issue of up to £20 million sterling denominated secured 7.2% bonds due 2022.
Bruce owns and/or operates 19 bars in Scotland on a tenanted or managed basis. The majority of the bars are located in Edinburgh, with the remainder located in Bathgate, Falkland, Stirling and Glenrothes. The bars vary from traditional Scottish pubs to late night clubs. The proceeds from the bonds will be utilised to acquire new properties, develop existing properties as well as provide excess working capital.
Crowe's role and team
Crowe acted as reporting accountant to the transaction, with our capital markets team led by Paul Blythe and assisted by Will Smith.
Client quote
"The issue of up to £20 million sterling bonds will provide Bruce with a tremendous opportunity to make strategic property acquisitions as well as develop already successful bars. Crowe provided support throughout the transaction to ensure it reached a successful conclusion and we would not hesitate to recommend them to other companies requiring reporting accountant services".
Kevan Fullerton, Director, Bruce Pubs
