CP Group mulls bond/loan combo for Tesco Asia debt takeout

AdobeStock_Tesco_575x375_Oct2020
By Pan Yue
11 Jan 2021

Thai conglomerate Charoen Pokphand Group will likely tap both the bond and loan markets to take out a bridge facility raised last year for the acquisition of retail giant Tesco’s Asia business.

In September, CP Group raised a total of $7.2bn-equivalent from a bridge loan to support the acquisition of Tesco’s Thailand and Malaysia operations. The loan was split into a $3bn-equivalent facility raised by CP All, and a $4.2bn-equivalent portion borrowed by CP Retail Development. Both facilities were ...

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