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Tesco tenders for any outstanding $525 million 6.15% notes due 2037
By Wendy Van Sickle
Columbus, Ohio, Jan. 19 – Tesco plc announced a cash tender offer for any and all of its outstanding $525 million of 6.15% senior notes due 2037 (Cusips: 881575AC8 and G87621AL5), according to a news release on Tuesday.
Pricing will be based on the 1.375% Treasury note due in August 2050 plus 160 basis points.
Holders will also receive accrued interest.
The offer is not conditioned any minimum amount of notes being tendered.
Concurrently with the tender offer for the dollar notes, the issuer also launched tender offers for eight series of notes denominated in euros and pounds sterling.
The dollar offer will expire at 5 p.m. ET on Jan. 26.
Pricing will be determined at 11 a.m. ET on Jan. 26.
Settlement is expected on Jan. 28.
BNP Paribas (888 210-4358, 212 841-3059, +33 1 55 777 78 9 or liability.management@bnpparibas.com), Citigroup Global Markets Ltd. (800 558-3745, 212 723-6106, +44 20 7029 7063 or liabilitymanagement.europe@citi.com), MUFG Securities EMEA plc (877 744-4532, +44 20 7577 4218 or liability.management@mufgsecurities.com) and RBC Capital Markets, LLC (877 381-2099, 212 618-7843, +44 20 7029 7063 or liabilitymanagement@rbccm.com) are the dealer managers.
Lucid Issuer Services Ltd. (+44 20 7704 0880 or tesco@lucid-is.com) is acting as information and tender agent.
Tesco is a Cheshunt, England-based grocery and retail chain.
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