Tesco Corporate Treasury Services PLC

Tender Offer Announced on 16th October 2017

On 16th October 2017 Tesco announced Tender Offers for the below:

  • €1,250 million 1.375 per cent. Notes due 2019
  • £350 million 5.50 per cent. Notes due 2019
  • £515 million 5 per cent. Notes due 2023
  • £200 million 6 per cent. Notes due 2029
  • £200 million 5.50 per cent. Notes due 2033
  • £300 million 4.875 per cent. Notes due 2042
  • £500 million 5.20 per cent. Notes due 2057

 Rationale for the Offers: The Offers are being made in the context of Tesco's continuing efforts to strengthen the balance sheet and are aimed at efficiently using surplus liquidity to reduce gross debt.

 GBP and EUR Tender Press Release 

 

Information about Tesco Corporate Treasury Services PLC (“TCTS”)

The legal and commercial name of TCTS is Tesco Corporate Treasury Services PLC.

TCTS is a public limited company registered in England and Wales with registered number 8629715 and was incorporated on 30 July, 2013. The Issuer operates under the Companies Act 2006.

The registered office of TCTS is Tesco House, Shire Park, Kestrel Way, Welwyn Garden City, United Kingdom, AL7 1GA.

 Business Overview

TCTS is a finance vehicle for members of the Tesco Group ("The Group"), its joint ventures and associates. TCTS was incorporated on 30 July, 2013 with a certificate under Section 761 of the Companies Act 2006 entitling it to do business and exercise any borrowing powers.

TCTS does not have any substantial liabilities other than general financing activities for members of the Group, its joint ventures and associates.

TCTS is dependent on the Group, its joint ventures and associates to meet its cashflow requirements. The sole function of TCTS’s business is to raise funds for the purpose of on-lending those funds to other members of the Group, its joint ventures and associates. TCTS is reliant on payments made to it by other relevant members of the Group and its relevant joint ventures and associates in respect of loans made to them by TCTS, inter alia, to service the interest and principal repayments on the finance it raises.

 Financial Statements listed below: 

Year  Published on File Type
2017 20 Jun 2017 PDF 0.15MB
2016 06 Sep 2016 PDF 0.15MB
2015 04 Sep 2015 PDF 0.15MB
2014 07 Jul 2014 PDF 0.15MB