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Prospect News home > News index > List of issuers A > Headlines for ASDA Group Ltd. > News item
Published on 4/22/2024 in the Prospect News Bank Loan Daily.

ASDA sets Tuesday lender call for €1.05 billion term loan

By Paul A. Harris

Portland, Ore., April 22 – ASDA Group plans to kick off a €1.05 billion term loan B due 2031 on a lender call set to begin at 5 a.m. ET on Tuesday, according to a market source.

The seven-year loan comes with six months of soft call protection at 101.

Credit ratings remain to be announced.

Barclays, Deutsche Bank, JPMorgan and HSBC are joint global coordinators and joint physical bookrunners. BoC, BofA, Intesa, Lloyds, Morgan Stanley, NatWest, Rabo, SMBC and RBC are joint global coordinators and joint bookrunners. Citigroup is a joint bookrunner.

The Leeds, U.K.-based supermarket chain plans to use the proceeds plus £1.75 billion of other senior secured debt and balance sheet cash to refinance the majority of its 2026 maturities.


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