1st May 2019 11:24
LONDON (Alliance News) - Tesco PLC has completed a tender offer announced just over a week ago for a series of debt notes, it said Wednesday.
For its 2019 and 2020 notes, no acceptances have been received. Tesco has received indicative acceptances for GBP113.6 million of 2022 notes - with a 50% scaling factor applied - GBP78.1 million of 2023 notes, GBP49.8 million of 2029 notes, GBP41.2 million of 2033 notes, GBP11.3 million of GBP2042 notes, and GBP42.7 million of 2057 notes.
Pricing will take place around 1300 BST Wednesday, Tesco said, and will be announced soon after. Shares were up 0.3% Wednesday morning at 250.54 pence each.
On Wednesday, peer J Sainsbury PLC reported a 42% drop in pretax profit for its year ended March 9, though underlying pretax profit beat expectations by GBP9 million, reaching GBP635 million. This came following its failed merger with Walmart Inc-owned Asda last week.
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