Sainsbury’s 2006 CMBS repaid ahead of Asda merger

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By Asad Ali
30 Apr 2018

Eddystone Finance plc, one of Sainsbury’s two pre-crisis sale leaseback securitizations, has been fully repaid according to a quarterly bond report published this month. The news comes as the grocery chain announces plans to merge with domestic competitor Asda.

The decision to fully repay noteholders of the Eddystone deal is understood to be separate from Monday’s announcement of the British grocery chain’s merger agreement with Asda, though the move boosts the supermarket group’s flexibility and ability to sell stores.

Roughly £2bn ($2.72bn) in issued notes were placed ...

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