PROPERTY SALE AND LEASEBACK TRANSACTION

RNS Number : 8250X

Tesco PLC

13 February 2013

 

13 February 2013

TESCO ANNOUNCES NEW PROPERTY SALE AND LEASEBACK TRANSACTION

Tesco has completed a new sale & leaseback transaction involving UK property assets.

Four trading stores and three mixed-use sites under development have been sold for a total consideration in excess of £490m for an average net initial yield of 4.7%.

The deal is structured as a 50-50 joint venture with the Cambridge University Endowment Fund.

The transaction is being primarily funded by fixed rate notes issued by Tesco Property Finance 6 PLC.

Enquiries:

Tesco, Investor Relations:           Chris Griffith                  [phone]

Tesco, Press & Media:               Tom Hoskin                   [phone]

 

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