Tesco launches new leaseback CMBS
Tesco has launched its fifth sale and leaseback CMBS, a £680m deal through Tesco Property Finance 4, arranged by Goldman Sachs, HSBC, and JP Morgan.
The collateral for the loan backing the CMBS notes will be 20 UK supermarkets and one mixed use development, with 96% of the properties occupied by Tesco. Many of the supermarkets are fairly few, with some not yet complete. This could negatively affect the vacant possession value upon ...
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