15th Oct 2018 09:00
LONDON (Alliance News) - Tesco PLC said Monday its treasury services unit has launched tender offers to repurchase euro, sterling and dollar denominated loan notes as part of the company's plan to strengthen its balance sheet.
The UK's biggest supermarket chain by market share has launched tender offers for its GBP350 million 5.50% notes due 2019, GBP900 million 6.125% notes due 2022, GBP200 million 6% notes due 2029, GBP200 million 5.50% notes due 2033, GBP300 million 4.875% notes due 2042 and GBP500 million 5.20% notes due 2057.
It also intends to buy back EUR1.25 billion 1.375% notes due 2019 and up to USD350 million of outstanding USD1.15 billion 6.15% senior notes due 2037.
The company said the purchase price of the notes will be determined in accordance with market convention. It also added that it will issue undisclosed amount of new series of euro-denominated fixed rate notes under the company's GBP15 billion euro note programme
Shares in Tesco were trading 0.7% higher at 218.30 pence each.
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