Securitisation
Overview
At the end of July 2005 Marston's PLC (formerly The Wolverhampton & Dudley Breweries PLC) announced the marketing of a £805m securitisation of approximately 70% of its managed and tenanted estate. On 5 August 2005, the Company announced that the terms of the securitisation had been finalised and terms agreed. The proceeds were raised on 9 August and were used to redeem £245m of debentures and also to replace existing bank facilities.
On 19 November 2007, Marston's announced a further issue of £330m of bonds into the market place. Following completion on 22 November 2007 the funds raised were used to repay bank debt.
The pubs within the securitisation are owned by Marston's Pubs Limited (formerly W&DB Pubs Limited), a 100% owned subsidiary of Marston's PLC (formerly The Wolverhampton & Dudley Breweries PLC), which has a financial year end of 30 September in line with the Group. The financial performance of the securitised pubs is published half yearly shortly following the announcement of the Group's results in May and November/December each year. These results are available below and via Bloomberg under the ticker name "MARSLN".
Results
2024
- Interim Accounts of Marston’s Pubs Parent Limited 2024(PDF 132 KB)
- Reconciliation of Interim Investor Report and Interim Accounts 2024(PDF 669 KB)
- Covering Note Q2 2024(PDF 537 KB)
- Investor Report Q2 2024(PDF 832 KB)
- Investor Report Q1 2024(PDF 769 KB)
2023
- Accounts of Marston’s Pubs Parent Limited 2023(PDF 997 KB)
- Reconciliation of Investor Report and Accounts 2023(PDF 363 KB)
- Covering Note Q4 2023(PDF 552 KB)
- Investor Report Q4 2023(PDF 843 KB)
- Investor Report Q3 2023(PDF 843 KB)
- Interim Accounts of Marston’s Pubs Parent Limited 2023(PDF 87 KB)
- Reconciliation of Interim Investor Report and Interim Accounts 2023(PDF 664 KB)
- Covering Note Q2 2023(PDF 533 KB)
- Investor Report Q2 2023(PDF 752 KB)
- Investor Report Q1 2023(PDF 752 KB)
2022
- Accounts of Marston’s Pubs Parent Limited 2022(PDF 526 KB)
- Reconciliation of Investor Report and Accounts 2022(PDF 333 KB)
- Covering Note Q4 2022(PDF 532 KB)
- Investor Report Q4 2022(PDF 751 KB)
- Investor Report Q3 2022(PDF 751 KB)
- Interim Accounts of Marston’s Pubs Parent Limited 2022(PDF 430 KB)
- Reconciliation of Interim Investor Report and Interim Accounts 2022(PDF 695 KB)
- Covering Note Q2 2022(PDF 557 KB)
- Investor Report Q2 2022(PDF 751 KB)
- Investor Report Q1 2022(PDF 757 KB)
2021
- Marston’s Pubs Parent Limited Annual Report 2021(PDF 1.5 MB)
- Reconciliation of Q4 Investor Report and Annual Accounts 2021(PDF 371 KB)
- Covering Note Q4 2021(PDF 553 KB)
- Investor Report Q4 2021(PDF 845 KB)
- Investor Report Q3 2021(PDF 829 KB)
- Interim Accounts of Marston’s Pubs Parent Limited 2021 (PDF 254 KB)
- Reconciliation of Interim Investor Report and Interim Accounts 2021 (PDF 688 KB)
- Covering Note Q2 2021 (PDF 553 KB)
- Investor Report Q2 2021 (PDF 838 KB)
- Investor Report Q1 2021 (PDF 828 KB)
2020
- Marston’s Pubs Parent Limited Annual Report 2020 (PDF 1.7 MB)
- Reconciliation of Q4 Investor Report and Annual Accounts 2020 (PDF 355 KB)
- Covering Note Q4 2020 (PDF 549 KB)
- Investor Report Q4 2020 (PDF 847 KB)
- Investor Report Q3 2020 (PDF 824 KB)
- Interim Accounts of Marston’s Pubs Parent Limited 2020 (PDF 298 KB)
- Reconciliation of Interim Investor Report and Interim Accounts 2020 (PDF 681 KB)
- Covering Note Q2 2020 (PDF 546 KB)
- Investor Report Q2 2020 (PDF 823 KB)
- Investor Report Q1 2020 (PDF 845 KB)
2019
- Marston’s Pubs Parent Limited Annual Report 2019 (PDF 2.6 MB)
- Reconciliation of Q4 Investor Report and Annual Accounts 2019 (PDF 366 KB)
- Covering Note Q4 2019 (PDF 1.2 MB)
- Investor Report Q4 2019 (PDF 1.3 MB)
- Investor Report Q3 2019 (PDF 1.2 MB)
- Interim Accounts of Marston’s Pubs Parent Limited 2019 (PDF 458 KB)
- Reconciliation of Interim Investor Report and Interim Accounts 2019 (PDF 350 KB)
- Covering Note Q2 2019 (PDF 1.2 MB)
- Investor Report Q2 2019 (PDF 1.3 MB)
- Investor Report Q1 2019 (PDF 1.4 MB)
2018
- Marston’s Pubs Parent Limited Annual Report 2018 (PDF 593 KB)
- Reconciliation of Q4 Investor Report and Annual Accounts 2018 (PDF 1.1 MB)
- Covering Note Q4 2018 (PDF 1.1 MB)
- Investor Report Q4 2018 (PDF 1.3 MB)
- Investor Report Q3 2018 (PDF 1.3 MB)
- Interim Accounts of Marston’s Pubs Parent Limited 2018 (PDF 176 KB)
- Reconciliation of Interim Investor Report and Interim Accounts 2018 (PDF 93 KB)
- Covering Note Q2 2018 (PDF 99 KB)
- Investor Report Q2 2018 (PDF 190 KB)
- Investor Report Q1 2018 (PDF 190 KB)
2017
- Marston’s Pubs Parent Limited Annual Report 2017 (PDF 1.3 MB)
- Reconciliation of Q4 Investor Report and Year End Accounts 2017 (PDF 64 KB)
- Covering Note Q4 2017 (PDF 81 KB)
- Investor Report Q4 2017 (PDF 125 KB)
- Covering Note Q3 2017 (PDF 125 KB)
- Interim Accounts of Marston’s Pubs Parent Limited 2017 (PDF 222 KB)
- Reconciliation of Interim Investor Report and Interim Accounts 2017 (PDF 84 KB)
- Covering Note Q2 2017 (PDF 96 KB)
- Investor Report Q2 2017 (PDF 181 KB)
- Investor Report Q1 2017 (PDF 191 KB)
2016
- Marston’s Pubs Parent Limited Annual Report 2016 (PDF 1.4 MB)
- Reconciliation of Q4 Investor Report and Year End Accounts 2016 (PDF 58 KB)
- Covering Note Q4 2016 (PDF 77 KB)
- Investor Report Q4 2016 (PDF 115 KB)
- Interim Accounts of Marston’s Pubs Parent Limited 2016 (PDF 97 KB)
- Reconciliation of Interim Investor Report and Interim Accounts 2016 (PDF 59 KB)
- Investor Report Q3 2016 (PDF 115 KB)
- Covering Note Q2 2016 (PDF 77 KB)
- Investor Report Q2 2016 (PDF 117 KB)
- Investor Report Q1 2016 (PDF 115 KB)
2015 & older
2015
- Marston's Pubs Parent Limited Annual Report 2015 (PDF 748 KB)
- Reconciliation of Q4 Investor Report and Year End Accounts 2015 (PDF 58 KB)
- Covering Note Q4 2015 (PDF 77 KB)
- Investor Report Q4 2015 (PDF 115 KB)
- Interim Accounts of Marston’s Pubs Parent Limited 2015 (PDF 72 KB)
- Reconciliation of Interim Investor Report and Interim Accounts 2015 (PDF 57 KB)
- Investor Report Q3 2015 (PDF 109 KB)
- Covering Note Q2 2015 (PDF 73 KB)
- Investor Report Q2 2015 (PDF 109 KB)
- Investor Report Q1 2015 (PDF 109 KB)
2014
- Marston's Pubs Parent Limited Annual Report 2014 (PDF 744 KB)
- Reconciliation of Q4 Investor Report and Year End Accounts 2014 (PDF 56 KB)
- Covering Note Q4 2014 (PDF 72 KB)
- Investor Report Q4 2014 (PDF 109 KB)
- Interim Accounts of Marston’s Pubs Parent Limited 2014 (PDF 62 KB)
- Reconciliation of Interim Investor Report and Interim Accounts 2014 (PDF 44 KB)
- Investor Report Q3 2014 (PDF 109 KB)
- Covering Note Q2 2014 (PDF 87 KB)
- Investor Report Q2 2014 (PDF 138 KB)
- Investor Report Q1 2014 (PDF 138 KB)
2013
- Marston's Pubs Parent Limited Annual Report 2013 (PDF 769 KB)
- Reconciliation of Q4 Investor Report and Year End Accounts 2013 (PDF 59 KB)
- Investor Report Q4 2013 (PDF 111 KB)
- Covering Note Q4 2013 (PDF 75 KB)
- Investor Report Q3 2013 (PDF 137 KB)
- Interim Accounts of Marston’s Pubs Parent Limited 2013 (PDF 103 KB)
- Reconciliation of Interim Investor Report and Interim Accounts 2013 (PDF 57 KB)
- Covering Note Q2 2013 (PDF 73 KB)
- Investor Report Q2 2013 (PDF 106 KB)
- Investor Report Q1 2013 (PDF 106 KB)
2012
- Marston's Pubs Parent Limited Annual Report 2012 (PDF 749 KB)
- Reconciliation of Q4 Investor Report and Year End Accounts 2012 (PDF 85 KB)
- Investor Report Q4 2012 (PDF 106 KB)
- Covering Note Q4 2012 (PDF 73 KB)
- Investor Report Q3 2012 (PDF 98 KB)
- Interim Accounts of Marston's Pubs Parent Limited 2012 (PDF 195 KB)
- Reconciliation of Interim Investor Report and Interim Accounts 2012 (PDF 134 KB)
- Investor Report Q2 2012 (PDF 141 KB)
- Covering Note Q2 2012 (PDF 43 KB)
- Investor Report Q1 2012 (PDF 138 KB)
2011
- Marston's Pubs Parent Limited Annual Report 2011 (PDF 769 KB)
- Reconciliation of Q4 Investor Report and Year End Accounts 2011 (PDF 149 KB)
- Investor Report Q3 2011 (PDF 791 KB)
- Covering Note Q4 2011 (PDF 238 KB)
- Investor Report Q4 2011 (PDF 803 KB)
- Interim accounts of Marston's Pubs Parent Limited 2011 (PDF 116 KB)
- Reconciliation of Interim Investor Report and Interim Accounts Q2 2011 (PDF 54 KB)
- Investor Report Q1 2011 (PDF 786 KB)
- Investor Report Q2 2011 (PDF 969 KB)
- Covering Note Q2 2011 (PDF 72 KB)
2010
- Marston's Pubs Parent Limited Annual Report 2010 (PDF 5 MB)
- Reconciliation of Investor Report and Year End Accounts Q4 2010.pdf (PDF 150 KB)
- Investor Report Q4 2010 (PDF 794 KB)
- Covering Note Q4 2010 (PDF 242 KB)
- Investor Report Q3 2010 (PDF 789 KB)
- Interim accounts of Marston's Pubs Parent Limited 2010 (PDF 171 KB)
- Reconciliation of Interim Investor Report and Interim Accounts Q2 2010 (PDF 69 KB)
- Investor Report Q1 2010 (PDF 164 KB)
- Investor Report Q2 2010 (PDF 794 KB)
- Covering Note Q2 2010 (PDF 91 KB)
2009
- Marston's Pubs Parent Limited Annual Report 2009 (PDF 4 MB)
- Reconciliation of Q4 Investor Report and Year End Accounts 2009 (PDF 70 KB)
- Covering Note Q4 2009 (PDF 83 KB)
- Investor Report Q3 2009 (PDF 119 KB)
- Investor Report Q4 2009 (PDF 102 KB)
- Interim accounts of Marston's Pubs Parent Limited 2009 (PDF 107 KB)
- Reconciliation of interim investor report and interim accounts 2009 (PDF 68 KB)
- Investor Report Interim 2009 (PDF 119 KB)
- Covering note Interim 2009 (PDF 83 KB)
- Investor report - Q1 2009 (PDF 101 KB)
2008
- Marston's Pubs Parent Limited Annual Report 2008 (PDF 4.6 MB)
- Reconciliation Of Final Investor Report And Final Accounts 2008 (PDF 75 KB)
- Cover Note 2008 (PDF 75 KB)
- Q4 investor report (PDF 35 KB)
- Q3 Investor Report 2008 (PDF 35 KB)
- Interim Investor Report 2008 (PDF 797 KB)
- Interim Cover Note 2008 (PDF 270 KB)
- Interim Accounts Of Marston's Pubs Parent Limited 2008 (PDF 724 KB)
- Q1 Investor Report 2008 (PDF 864 KB)
2007
- Marston's Pubs Parent Limited Annual Report Accounts 2007 (PDF 4.9 MB)
- Reconciliation Of Final Investor Report And Final Accounts 2007 (PDF 137 KB)
- Cover Note 2007 (PDF 323 KB)
- Final Investor Report 2007 (PDF 810 KB)
- Qtr 3 2007 Investor Report (PDF 816 KB)
- Important Securitisation News (PDF 5 MB)
- Bondholder Presentation.pdf (PDF 20 KB)
- Annual Bondholder Presentation (PDF 4.8 MB)
- Interim Investor Report 2007
- Interim Accounts Of Marston's Pubs Parent Limited 2007 (PDF 627 KB)
- Q1 Investor Report 2007 (PDF 817 KB)
2006
- W&DB Pubs Parent Limited Annual Report 2006 (PDF 3.5 MB)
- Reconciliation Of Final Investor Report And Final Accounts 2006 (PDF 120 KB)
- Press Release 01/12/2006 (PDF 322 KB)
- Final Investor Report (PDF 834 KB)
- Q3 Investor Report2006 (PDF 808 KB)
- press release 26/05/2006 (PDF 269 KB)
- Interim Investor Report 2006 (PDF 703 KB)
- Interim Accounts Of W&Db Pubs Parent Limited (PDF 360 KB)
- Q1 Investor Report 2006 (PDF 683 KB)
Offering Circulars
- Original Issue Aug 2005 (PDF 4.3 MB)
- Tap Issue Nov 2007 (PDF 1.64 MB)