Chicago, Jan. 25 – Tesco Corporate Treasury Services plc priced €750 million 0.375% ESG notes due July 27, 2029 (Baa3/BBB-/BBB-) at 99.335 to yield 0.455%, according to an offering document.
The notes have a make-whole redemption until April 27, 2029 of Bunds plus 20 basis points and then a par call option.
BNP Paribas, Citigroup Global Markets Ltd., MUFG Securities EMEA plc and RBC Europe Ltd. were the joint lead managers for the Regulation S notes.
The notes are guaranteed by Tesco plc.
Tesco is a Cheshunt, England-based grocery and retail chain.
| Issuer: | Tesco Corporate Treasury Services plc
|
| Guarantor: | Tesco plc
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| Amount: | €750 million
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| Maturity: | July 27, 2029
|
| Securities: | ESG notes
|
| Bookrunners: | BNP Paribas, Citigroup Global Markets Ltd., MUFG Securities EMEA plc and RBC Europe Ltd.
|
| Coupon: | 0.375%
|
| Price: | 99.335
|
| Yield: | 0.455%
|
| Call option: | Make-whole at Bunds plus 20 bps; after April 27, 2029 at par
|
| Settlement date: | Jan. 27
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | Regulation S
|
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