26th Jan 2021 17:58
(Alliance News) - Tesco PLC on Tuesday announced the purchase price to be paid in connection with its cash tender offer for its senior notes.
Earlier this month, Tesco announced tender offers for its USD1.15 billion in 6.15% senior notes due 2037, as well as a number of euro and sterling-denominated notes.
The cash offer is for any and all of the outstanding dollar notes and is intended to strengthen the supermarket chain's balance sheet though "addressing upcoming debt maturities and achieving net annual interest savings".
Tesco said it will pay a purchase price of USD1,348.42 per USD1,000 principal amount of securities validly tendered and not withdrawn before the expiration deadline of 1700 New York time on Tuesday.
The stock closed 0.2% lower at 243.40 pence on Tuesday in London.
By Arvind Bhunjun; [email protected]
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