June 12, 2020 / 6:45 AM / 2 months ago

Mitchells & Butlers secures debt waivers to ride out pandemic

(Reuters) - Pub owner Mitchells & Butlers Plc (MAB.L) said on Friday it had obtained debt waivers from its creditors in exchange for an agreement to not return money to shareholders or repay bond debt until at least September 2021.

The owner of All Bar One, Toby Carvery, Harvester and Browns also said it had agreed to an extension of existing credit facilities as well as an extra 100 million pounds in liquidity, giving it access to 250 million pounds in financing till the end of 2021.

Reporting by Yadarisa Shabong in Bengaluru; Editing by Rashmi Aich

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