Morningstar

Tesco Issues $587 Million in New Eight-Year Bonds

Provided by Dow Jones Oct 6, 2025, 12:47:00 PM

By Miriam Mukuru

U.K. retail company Tesco on Monday issued 500 million euros ($587.2 million) in a new eight-year bond, LSEG data showed.

The price guidance on the bond is in the midswaps plus 100 basis-point area, and the maturity date is Oct. 13, 2033.

Proceeds will go toward general corporate purposes.

CreditSights has an outperform recommendation on Tesco's credit, though it favors sterling-denominated over euro-denominated bonds, analyst Amarveer Singh said in a note.

The retailer's margins have remained resilient, the fiscal year has started off strongly, and the company has "resilient credit metrics," he said.

Write to Miriam Mukuru at miriam.mukuru@wsj.com

(END) Dow Jones Newswires

October 06, 2025 08:47 ET (12:47 GMT)

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