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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 High Yield Daily.

ASDA eyes £1.75 billion secured debt to help address 2026 maturities

By Paul A. Harris

Portland, Ore., April 22 – ASDA Group telegraphed £1.75 billion of senior secured debt in a Monday memo to bank loan lenders, according to a market source.

The disclosure came as the company gave details on a €1.05 billion term loan B due 2031 set to kick off on a Tuesday lender call. Barclays, Deutsche Bank, JPMorgan and HSBC are joint physical bookrunners for the loan.

The Leeds, U.K.-based supermarket chain plans to use the proceeds plus balance sheet cash to refinance the majority of its 2026 maturities.


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