19th Jun 2018 10:56
LONDON (Alliance News) - Wm Morrison Supermarkets PLC on Tuesday launched a tender offer to repurchase up to GBP200 million worth of outstanding notes as part of a plan to reduce debt and interest costs.
The supermarket chain has launched a tender offer for GBP400.0 million 4.6% notes due 2023, GBP400.0 million 3.5% notes due 2026, and GBP300.0 million in 4.8% notes due 2029. It intends to repurchase upto GBP200 million worth of notes.
The tender offer will be priced on Wednesday next week.
Shares in the grocer were trading 0.5% lower on Tuesday at 244.30 pence each.
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