30th Apr 2018 15:26
LONDON (Alliance News) - Tesco PLC on Monday confirmed to has accepted valid tenders for notes worth GBP600.0 million, GBP100.0 million above what it had planned to purchase.
Earlier April, the company said it would tender for a series of notes for up to GBP500.0 million as it looked to reduce debt, and earlier on Monday it said it had received tender for GBP600.0 million, which it has now accepted.
The offer expired on Friday last week, and the company also set pricing on Monday.
For the 2022 notes the purchase price is 115% their face value. For the 2023 notes it is 112%, for 2029 notes 124%, for 2033 notes 119%, for 2042 notes 113%, and for 2057 notes 124%.
Shares were down 0.9% on Monday afternoon at 235.85 pence each.
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